Seoul shares up for 3rd day to exceed 2,800 on tech gains

Seoul shares ended higher for the third consecutive session to exceed 2,800 points for the first time in about 2 1/2 years Thursday on tech gains despite concerns over the possible delay of long-awaited US interest rate cuts. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.3 points, or 0.37 percent, to close at 2,807.63. The closing index exceeded the 2,800 level for the first time since Jan. 24, 2022, when the comparable reading was 2,828.11. T

June 20, 2024

S. Korea's auto exports hit record high in May

South Korea's car exports rose 4.8 percent on-year last month to reach a record high for any May, driven by solid demand for eco-friendly vehicles, data showed Thursday. The combined value of car shipments came to $6.5 billion in May, beating the previous record for any May set in 2023, when the value stood at $6.23 billion, according to the Ministry of Trade, Industry and Energy. In terms of volume, car exports advanced 2.9 percent on-year to come to 254,496 units last month. The increase

June 20, 2024

Seoul shares open higher on tech gains

Seoul shares opened higher Thursday, after a holiday in the US, helped by tech gains amid concerns over the possible delay of a long-awaited interest rate cut by the US Federal Reserve. The benchmark Korea Composite Stock Price Index rose 7.46 points, or 0.27 percent, to 2,804.79 in the first 15 minutes of trading. US stock markets were closed on Juneteenth on Wednesday to commemorate the end of slavery in the US The Fed recently pared back projections for rate cuts this year. In Seoul, tech sto

June 20, 2024

Seoul shares up for 2nd day on tech stocks

Seoul shares advanced by more than 1 percent Wednesday as investors scooped up tech stocks following a rally on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index added 33.41 points, or 1.21 percent, to close at 2,797.33. The closing index marks the highest since Jan. 21, 2022, when the comparable reading was 2,834.29. Trade volume was heavy at 635.72 million shares worth 13.86 trillion won ($10.03 billion), with losers outnumbering winners 53

June 19, 2024

Seoul shares open higher on tech gains

Seoul shares opened higher Wednesday as investors scooped up tech stocks following a surge in US chipmakers. The benchmark Korea Composite Stock Price Index rose 28.31 points, or 1.02 percent, to 2,792.23 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.2 percent to 38,834.86, and the tech-heavy Nasdaq Composite gained 0.03 percent to 17,862.23. Nvidia Corp. surpassed Microsoft Corp. to become the world's most-valuable company for the first time. In Seo

June 19, 2024

Seoul shares hit over 2-yr high on strong foreign buying

South Korean stocks closed higher to end at an over two-year high Tuesday as foreign investors scooped up blue chips after a tech-led rally on Wall Street. The local currency advanced slightly against the US dollar. The benchmark Korea Composite Stock Price Index increased 19.82 points, or 0.72 percent, to close at 2,763.92, rebounding from a 0.52 percent drop the previous day. The closing index marks the highest since Feb. 20, 2022, when the comparable reading was 2,771.93. Trade volume was mod

June 18, 2024

Seoul shares open higher on US gains

South Korean stocks opened sharply higher Tuesday following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 25.01 points, or 0.91 percent, to 2,769.11 in the first 15 minutes of trading. In the United States, Wall Street's main indices finished bullish, led by tech shares. The Dow Jones Industrial Average gained 0.49 percent, and the tech-heavy Nasdaq Composite advanced 0.95 percent. In Seoul, large caps led the strong opening. Samsung Electronics added

June 18, 2024

Seoul shares snap 4-day rise amid rate-cut delay prospects

Seoul shares ended lower Monday to snap a four-session winning streak, amid speculations over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 14.32 points, or 0.52 percent, to close at 2,744.10. Trade volume was moderate at 545 million shares worth 12.2 trillion won ($8.8 billion), with losers outnumbering gainers 522 to 359. Individuals bought a net 313 billion won wort

June 17, 2024

Seoul shares open lower amid rate-cut delay prospects

Seoul shares opened lower Monday, after a mixed close on Wall Street, as investors remain concerned over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The benchmark Korea Composite Stock Price Index fell 6.15 points, or 0.22 percent, to 2,752.27 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average fell 0.2 percent to 38,589.16 and the Nasdaq Composite rose 0.1 percent to 17,688.88. The Fed has recently pared back projections for rate cu

June 17, 2024

Seoul shares up for 4th day on revived hopes for Fed's rate cut

South Korean shares closed up for the fourth consecutive session Friday amid hopes for a US rate cut that helped push US stock indexes to record highs. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index gained 3.53 points, or 0.13 percent, to close at 2,758.42. Trade volume was heavy at 633.1 million shares worth 15.7 trillion won ($11.38 billion), with losers outnumbering gainers 481 to 399. Foreign investors remained net buyers for a third con

June 14, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened slightly higher Friday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 4.72 points, or 0.17 percent, to 2,759.61 in the first 15 minutes of trading. The Kospi has finished higher for three consecutive sessions, tracking US stock indexes that climbed to record highs amid a slowdown in inflation. The Nasdaq and S&P 500 again reached new highs Thursday, helped by renewed hopes for the start of US rate cuts within the year

June 14, 2024

Seoul shares gain nearly 1% on tech gains

South Korean stocks finished nearly 1 percent higher Thursday, extending their winning streak to a third session on tech gains. The local currency slightly rose against the US greenback. The benchmark Korea Composite Stock Price Index surged 26.72 points, or 0.98 percent, to 2,754.89. Trade volume was heavy at 690 million shares worth 18.9 trillion won ($13.72 billion), with losers outnumbering gainers 461 to 398. The index had opened sharply higher, tracking overnight gains on Wall Street led b

June 13, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened over 1 percent higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index surged 37.26 points, or 1.37 percent, to 2,765.43 in the first 15 minutes of trading. The bullish start follows overnight gains on Wall Street where the advances of tech shares, led by Apple, pushed the Nasdaq to a new high for the third consecutive session. The Dow Jones Industrial Average slipped 0.09 percent to 37,712.21, but the Nasdaq jumped 1.5

June 13, 2024

Seoul shares up for 2nd day ahead of Fed's rate decision

South Korean shares closed higher Wednesday led by gains in tech shares tracking advances on Wall Street, ahead of the Federal Reserve's rate decision. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 22.85 points, or 0.84 percent, to close at 2,728.17. Trade volume was moderate at 499.4 million shares worth 11.5 trillion won ($8.35 billion), with gainers outnumbering losers 502 to 372. Foreign investors net purchased 234.4 billio

June 12, 2024

Seoul shares open higher on US tech gains

South Korean stocks opened higher Wednesday, tracking overnight gains by US big tech shares. The benchmark Korea Composite Stock Price Index added 9.05 points, or 0.33 percent, to 2,714.37 in the first 15 minutes of trading. The US stock market closed mixed overnight as investors remained cautious about the conclusion of the Federal Open Market Committee meeting, set to end Wednesday. The Dow Jones Industrial Average retreated 0.31 percent to close at 38,747.42, but the tech-heavy Nasdaq advance

June 12, 2024

Seoul shares close tad higher ahead of US Fed meeting

South Korean shares closed slightly higher Tuesday ahead of the Federal Reserve's rate-setting meeting this week. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 4.15 points, or 0.15 percent, to close at 2,705.32. Trade volume was moderate at 550 million shares worth 11.6 trillion won ($8.4 billion), with losers outnumbering gainers 510 to 349. The index had opened higher, tracking overnight gains on Wall Street. After choppy tra

June 11, 2024

KB Kookmin Card's Indonesia unit marks 30th anniversary

KB Kookmin Card on Monday celebrated the 30th anniversary of its Indonesian subsidiary, KB Finansia Multi Finance, in the capital city Jakarta. Established in 1994, KB FMF is a credit finance corporation that primarily offers mortgages for used cars and motorcycles, as well as installment financing for durable goods. KB Kookmin Card acquired shares of KB FMF in July 2020, integrating it as a subsidiary. KB Kookmin Card CEO Lee Chang-kwon attended the event and encouraged local employees, present

June 11, 2024

Seoul shares open higher on Wall Street gains

South Korean stocks opened slightly higher Tuesday, tracking overnight gains on Wall Street ahead of a US Fed meeting. The benchmark Korea Composite Stock Price Index added 9.99 points, or 0.37 percent, to 2,711.16 in the first 15 minutes of trading. The positive start follows overnight gains on Wall Street, with investors taking caution ahead of the US Federal Open Market Committee meeting slated for Tuesday and Wednesday. The Dow Jones Industrial Average added 0.18 percent to close at 38,868.0

June 11, 2024

Seoul shares close lower ahead of US Fed meeting; won sharply down

South Korean shares closed lower Monday as investors took to the sidelines ahead of the US Federal Reserve's rate-setting meeting later this week. The local currency sharply lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 21.5 points, or 0.79 percent, to close at 2,701.17. Trade volume was moderate at 499.3 million shares worth 11.16 trillion won ($8.1 billion), with losers outnumbering gainers 499 to 381. Retail investors scooped up a net 553.8 billi

June 10, 2024

400,000 minors own Samsung Electronics shares worth W1.54tr

The number of underage stakeholders in Samsung Electronics, the country's largest company by market capitalization, has surged nearly 21 times in four years, reaching almost 400,000. According to the Korea Securities Depository's securities data portal, as of the end of last year, there were 391,869 Samsung Electronics shareholders under the age of 20, making up 8.38 percent of the total 4,672,130 shareholders. The total value of Samsung Electronics shares owned by these underage inves

June 10, 2024