South Korean stocks closed 0.98 percent higher Tuesday as investor sentiment buoyed on improved trade data from China, analysts said. The local currency closed higher against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 19.39 points, or 0.98 percent, to finish at 1,994.06. Trading volume was low at 252.6 million shares worth 5 trillion won (US$4.65 billion) with gainers outpacing losers 481 to 326.Analysts said Seoul shares gathered ground as China's export adva

Sept. 10, 2013

South Korean stocks traded 0.54 percent higher late Tuesday morning as improved Chinese data helped boost investors' sentiment here, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 10.61 points to 1,985.28 as of 11:20 a.m.Tech shares traded higher, with top player Samsung Electronics rising 0.95 percent and leading chipmaker SK hyunix advancing 1.58 percent. Flat panel maker LG Display gained 0.17 percent.In contrast, mobile carriers traded bearish, with No. 1 SK Tel

Sept. 10, 2013

South Korean stocks opened higher Tuesday on better-than-expected data from China, analyst said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 7.03 points, or 0.36 percent, to 1,981.70 in the first 15 minutes of trading.Shares gathered ground across the board, with No. 1 carmaker Hyundai Motor rising 0.81 percent and leading steelmaker POSCO adding 1.66 percent. Top chipmaker SK hyinx climbed 0.35 percent.Logistics shares also traded bullish, with Hyundai Glovis rising 0.25 per

Sept. 10, 2013

The Financial Supervisory Service said Monday that it had launched an inquiry into suspicions of irregular business practices involving several foreign investment banks operating in Korea.The foreign banks include the local units of New York-based Goldman Sachs, Zurich-based Credit Suisse and Edinburgh-based Royal Bank of Scotland, according to the financial regulator.While the main investigation target of the FSS involves the three banks’ sales of financial derivatives in Korea, market insiders

Sept. 9, 2013

Foreign investors are showing signs of moving out of South Korean bonds and into stocks as a strong won makes local equities more attractive, analysts said Sunday.Offshore investors posted net buying for 11 consecutive days from Aug. 23 to Friday, with their net purchases reaching 3.18 trillion won ($2.91 billion) in the last 14 trading sessions, according to the Korea Exchange. In contrast, foreigners sold a net 3.08 trillion won in local bonds over the last 14 trading sessions, according to da

Sept. 9, 2013

South Korean stocks closed 0.99 percent higher as investors' sentiment was boosted by signs of an economic recovery in the eurozone and China, analysts said. The local currency closed higher against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 19.36 points, or 0.99 percent, to finish at 1,974.67. Trading volume was low at 265.1 million shares worth 4.44 trillion won (US$4.08 billion) with gainers outpacing losers 456 to 338.Analysts said Seoul shares gathered gr

Sept. 9, 2013

South Korean stocks traded 0.78 percent higher late Monday morning as foreign investors continued to scoop up local shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 15.25 points to 1,970.56 as of 11:20 a.m.Tech shares traded higher, with top chipmaker SK hynix rising 4.24 percent and handset maker LG Electronics adding 0.67 percent. Top player Samsung Electronics edged up 0.15 percent.Shipbuilders also gathered ground, with Hyundai Heavy Industries adding 3.25

Sept. 9, 2013

South Korean stocks opened higher Monday on gains in construction firms and mobile carriers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 12.01 points, or 0.61 percent, to 1,967.32 in the first 15 minutes of trading.Builders traded bullish, with Hyundai Engineering & Construction rising 0.49 percent and Daelim Industrial moving up 1.9 percent. Daewoo Engineering & Construction added 1.54 percent.Mobile carriers also gathered ground, with No. 1 SK Telecom adding

Sept. 9, 2013

Although G20 economies were divided over Syria, leaders remained united over issues concerning the world economy, showing commitment to a “durable exit” from one of the longest crises in financial history.G20 leaders said that the world economy’s top priorities are job creation, particularly for the young, and economic recovery through the implementation of sound macroeconomic policy, structural reforms and framework.Given that the world has not yet fully recovered from the ongoing financial dow

Sept. 8, 2013

South Korean stocks are expected to trade in a tight range this week as investors are anticipated to sit on the sidelines on a possible tapering of the U.S. quantitative easing measures and the crisis in Syria, analysts said.The benchmark Korea Composite Stock Price Index advanced 1.5 percent as of Friday from a week earlier.Seoul shares lost ground as the rising woes in the Middle East following the prospect of a U.S.-led military attack on Syria dented investors’ sentiment.The U.S. claimed it

Sept. 8, 2013

The Fair Trade Commission said Friday that it issued a warning against SK E&C for unfair deals with eight subcontractors.The conglomerate-based builder was found to have paid the small and mid-sized enterprises parts-supply costs far later than the legal due dates, according to the antitrust regulator.An FTC official said some of the eight suppliers were paid 437 days past the deadline.“As a government agency ― for its construction order ― raised its total payment to SK E&C in reflection of the

Sept. 6, 2013

Korean companies and individuals were found to have continued to increase their money remittance to overseas tax havens over the past few years.According to the Bank of Korea and data from the financial investment industry, their money transfers to tax havens including countries in the Caribbean have nearly doubled since the 2008 financial crisis.The annual figure, which stood at $212.2 billion (254.3 trillion won) in 2009, climbed to $324.2 billion in 2010, $385.7 billion in 2011 and $413.9 in

Sept. 6, 2013

South Korean stocks closed nearly flat Friday as investors sat on their hands due to uncertainties over U.S. jobs data and the Fed's move to taper its monthly debt purchases, analysts said. The local currency closed higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.66 points, or 0.19 percent, to finish at 1,955.31. Trading volume was moderate at 318.8 million shares worth 4.23 trillion won ($3.87 billion) with losers outpacing gainers 446 to 344.Ana

Sept. 6, 2013

South Korean stocks opened higher Friday due to gains on Wall Street in the previous trading session amid improved industry data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.75 points, or 0.14 percent, to 1,954.40 in the first 15 minutes of trading.Shares gathered ground across the board, with No. 1 carmaker Hyundai Motor rising 1.64 percent and top steelmaker POSCO rising 0.46 percent. Leading auto parts maker Hyundai Mobis advanced 0.18 percent.U.S. stocks

Sept. 6, 2013

Debates on whether to raise incomes taxes on the wealthy will likely be heated between ruling and opposition lawmakers during the September plenary session of the National Assembly.While the governing Saenuri Party had taken a skeptical stance over demands to increase the tax burden on the high-income bracket, opposition lawmakers have revived the issue.Along with the opening of the plenary session, 10 lawmakers of the main opposition Democratic Party proposed a motion to raise the upper ceiling

Sept. 5, 2013