Seoul shares open higher on tech, bio gains

Seoul shares opened higher Monday as institutions and foreign investors scooped up tech, bio and other blue chips. The benchmark Korea Composite Stock Price Index climbed 0.49 percent, or 12.11 points, to 2,490.67 in the first 15 minutes of trading. Market bellwether Samsung Electronics gained 0.41 percent, and its consumer electronics rival LG Electronics rose 1.07 percent. Bio shares also traded higher, with Samsung Biologics soaring 5.30 percent and Celltrion advancing 2.41 percent. Auto and

Jan. 29, 2024

Seoul shares end higher on battery gains

Seoul shares closed higher Friday on battery gains amid a report that the US economy remains resilient. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.33 percent, or 8.22 points, to 2,478.56. The Kospi has risen 0.2 percent this week. Trading volume was slim at 285.54 million shares worth 7 trillion won ($5.2 billion), with gainers outpacing losers 549 to 312. Institutions and foreigners bought a combined 380 billion won worth of stocks, offsett

Jan. 26, 2024

Seoul shares open lower on tech losses despite US gains

Seoul shares opened lower Friday on tech losses, despite overnight gains on Wall Street following a report indicating the US economy remains stronger than expected. The benchmark Korea Composite Stock Price Index fell 0.06 percent, or 1.44 points, to 2,468.90 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.6 percent to 38,049.13, and the tech-heavy Nasdaq climbed 0.2 percent to 15,510.50. The US economy grew at an estimated 3.3 percent in the fourth quarter

Jan. 26, 2024

Seoul shares close tad higher on auto gains

Seoul shares ended slightly higher on Thursday, helped by gains in auto stocks as their 2023 earnings fared well on the back of robust demand. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.03 percent, or 0.65 points, to 2,470.34. Trading volume was moderate at 337.26 million shares worth 7.5 trillion won ($5.6 billion), with losers outpacing gainers 443 to 424. Institutions and foreigners bought a combined 236 billion won worth of stocks, offse

Jan. 25, 2024

Seoul shares open lower on Tesla's weak earnings

Seoul shares opened lower Thursday, tracking an overnight fall on Wall Street. The benchmark Korea Composite Stock Price Index fell 0.58 percent, or 14.42 points, to 2,455.27 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.3 percent to 37,806.39, while the tech-heavy Nasdaq rose 0.4 percent to 15,481.92. Tesla reported weaker-than-expected earnings for the fourth quarter, which dragged down EV battery makers here. In Seoul, large-cap stocks were mixed. Mark

Jan. 25, 2024

Seoul shares close lower on profit taking ahead of earnings season

South Korean stocks closed lower Wednesday ahead of the release of earnings reports by major firms. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 8.92 points, or 0.36 percent, to 2,469.69. Trading volume was low at 381.6 million shares worth 7.17 trillion won ($5.36 billion), with losers far outpacing gainers 608 to 271. Foreigners sold shares worth 24.1 billion won, while retail investors bought a net 103.8 billion won. Institutions sold a net 8

Jan. 24, 2024

Seoul shares open lower on profit-taking

South Korean stocks opened lower Wednesday as investors sought profits. The benchmark Korea Composite Stock Price Index fell 12.29 points, or 0.5 percent, to 2,466.32 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.25 percent lower as investors cashed in profits, while the tech-heavy Nasdaq added 0.43 percent. In Seoul, top tech giant Samsung Electronics moved down 1.2 percent, and No. 2 chipmaker SK hynix shed 1.21 percent. Leading carmaker Hyundai Motor

Jan. 24, 2024

Seoul shares close higher following stellar performance of US stocks

South Korean stocks closed higher Tuesday as investors scooped up undervalued shares after US stock indexes closed at an all-time high overnight. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 14.26 points, or 0.58 percent, to 2,464.35. Trading volume was moderate at 461 million shares worth 7.87 trillion won ($5.89 billion), with gainers outpacing losers 482 to 379. Foreigners bought shares worth 137.9 billion won, while retail investors offload

Jan. 23, 2024

Seoul shares open higher on record Wall Street performance

South Korean stocks opened higher Tuesday as US shares reached an all-time high overnight on growing optimism over the US economy. The benchmark Korea Composite Stock Price Index rose 9.84 points, or 0.4 percent, to 2,474.19 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.36 percent higher to set an all-time high level. The S&P 500 advanced 0.22 percent, also reaching a fresh high. The tech-heavy Nasdaq added 0.32 percent as well. In Seoul, top tech g

Jan. 23, 2024

Seoul shares close lower ahead of earnings season

South Korean stocks lost ground on Monday as investors sat on the sidelines ahead of the release of fourth-quarter earnings reports. The Korean won edged up against the US dollar. The benchmark Korea Composite Stock Price Index fell 8.39 points, or 0.34 percent, to 2,464.35. Trading volume was low at 376 million shares worth 8.25 trillion won ($6.1 billion), with losers outpacing gainers 575 to 295. Foreigners bought shares worth 295.3 billion won, while retail investors offloaded a net 244 bill

Jan. 22, 2024

Korea's global bond index inclusion likely this year: Standard Chartered

South Korea’s sovereign bond market is likely to be included among the top grade of global market indices, as abating inflation revives investors’ appetite for government bonds, according to economists from Standard Chartered Group on Friday. At the 2024 Global Research Briefing conference hosted by the Korean unit in Seoul, Arup Ghosh, Standard Chartered Bank's co-head of Asia rates research, predicted that Korean treasury bonds will take a positive turn this year due to the tr

Jan. 22, 2024

Seoul shares open slightly higher on tech gains

South Korean stocks opened slightly higher Monday on the back of gains from technology shares. The benchmark Korea Composite Stock Price Index rose 4.81 points, or 0.19 percent, to 2,477.55 in the first 15 minutes of trading. South Korea's top tech giant Samsung Electronics moved up 0.67 percent, and No. 2 chipmaker SK hynix gained 2.41 percent. Naver, which operates the country's top online portal, shot up 2.32 percent, with Kakao also advancing 1.74 percent. Pharmaceutical shares wer

Jan. 22, 2024

Seoul shares soar over 1.3% on chip rally

South Korean stocks soared more than 1.3 percent Friday as big-cap chip shares rallied following an overnight tech boost on Wall Street. The local currency edged up against the US dollar. The benchmark Korea Composite Stock Price Index jumped 32.70 points, or 1.34 percent, to 2,472.74. Trading volume was slim at 499.2 million shares worth 9 trillion won ($6.7 billion), with winners outpacing losers 518 to 345. Foreigners turned to net buyers with a net purchase of 683.2 billion won worth of shar

Jan. 19, 2024

Seoul shares open sharply higher on tech gains

South Korean stocks got off to a strong start Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index jumped 31.68 points, or 1.3 percent, to 2,471.72 in the first 15 minutes of trading. Overnight, all three major US indexes gained ground, led by the strong performance of tech giants, such as Apple and TSMC. In Seoul, most big-cap shares started in positive territory. Market bellwether Samsung Electronics soared 2.65 percent, and No. 2 chipmaker SK hynix

Jan. 19, 2024

Foreign investors dump Seoul shares amid geopolitical risks

Foreign investors continued the selling spree on the local stock market amid heightened geopolitical tensions both within and outside the Korean Peninsula, while the Korean won weakened against the dollar. The benchmark Kospi closed at 2,440.04 points Thursday. Though it dipped to the 2,430 range on the previous trading day, it managed to make a slight recovery backed by the 119.6 billion won ($82 million) net buying of retail investors. Yet foreigners continued the selling streak for five conse

Jan. 18, 2024

Seoul shares rebound from trough on bargain hunting

South Korean stocks closed slightly higher Thursday as investors hunted bargains following a recent market decline triggered by diminished hope for the US Federal Reserve's rate cut. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index climbed 4.14 points, or 0.17 percent, to 2,440.04. Trading volume was moderate at 555 million shares worth 8.12 trillion won ($6 billion), with losers outpacing gainers 444 to 421. Foreigners dumped shares worth 130.5 b

Jan. 18, 2024

[Contribution] Three strategies for your China equity exposure

By Steve Brice How to invest in China is the question I am asked the most. China is facing a lot of headwinds. The economy has slowed dramatically from the post-COVID reopening boost at the turn of last year and geopolitical tensions are everywhere for people to see. Against this backdrop, I see a three-pronged approach to China investments. First, focus your China equity investments in areas that are less likely to face headwinds. Second, diversify to other parts of Asia. And third, conside

Jan. 18, 2024

Seoul shares open slightly higher on bargain hunting

South Korean stocks opened slightly higher Thursday as investors hunted for bargains following the recent extended losses amid dimmed prospects for the US Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index gained 5.91 points, or 0.24 percent, to 2,441.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.25 percent lower, with the S&P 500 slipping 0.56 percent. The tech-heavy Nasdaq had decreased 0.59 percent. The stronger-

Jan. 18, 2024

KB Kookmin Bank vows W372b support for SMEs

KB Kookmin Bank said Wednesday it will provide 372.1 billion won ($276.4 million) in financial support measures for the self-employed, small business owners and vulnerable groups facing difficulties due to high borrowing costs and prices. The sum represents the largest among such other plans put forward by its local peers responding to the government’s call to share profits yielded from high rates with those still struggling to recover from the fallout of COVID-19. KB’s dual-track

Jan. 17, 2024

Seoul shares sink 2.5% on dimmed hope for Fed's rate cuts, China risk; won sharply down

South Korean stocks plunged nearly 2.5 percent Wednesday on dampened hopes that the Federal Reserve will start cutting its rates soon and uncertainties over the Chinese economy. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 61.69 points, or 2.47 percent, to 2,435.90. Trading volume was heavy at 950.6 million shares worth 11.01 trillion won ($8.2 billion), with losers far outpacing winners 850 to 70. Foreigners and institutions dump

Jan. 17, 2024