Seoul stocks dip on profit-taking

South Korean stocks finished lower Thursday, as investors opted to cash in recent gains amid a bullish run, market analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index fell 9.85 points, or 0.40 percent, to close at 2,473.06.Trade volume was moderate at 232 million shares worth 6.75 trillion won ($5.96 billion), with gainers outnumbering losers 467 to 326.The local stock market opened higher on overnight gains in Wall Street, but went south on p

Oct. 19, 2017

KDB partners to prop up venture firms

The state-run Korea Development Bank unveiled Thursday plans to partner with Korea Venture Business Association to enhance investments in venture firms. KDB will finance venture firms recommended by the association, according to the plan. In addition, the nation’s largest state-run bank will seek ways to stimulate the emergence of local unicorns, or startups valued at over $1 billion, and ramp up investor relations programs for local startups. KDB called the partnership an acceleration of

Oct. 19, 2017

Korean stocks edge up late Thursday morning

South Korean stocks traded slightly higher Thursday morning, recouping earlier losses, on the back of foreign buying.The benchmark Korea Composite Stock Price Index rose 2.98 points, or 0.12 percent, to 2,485.89 as of 11:15 a.m. Market kingpin Samsung Electronics was 1.35 percent down, and SK hynix, a major chipmaker, dipped 0.49 percent.In contrast, Naver, the country's top Internet portal operator, advanced 0.98 percent, and Hyundai Motor, the No. 1 automaker, surged 1.33 percent.No.1 steelmak

Oct. 19, 2017

Stocks open slightly higher on overnight US gains

South Korean stocks opened slightly higher Thursday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index climbed 2.70 points, or 0.11 percent, to 2,485.61 in the first 15 minutes of trading. Market kingpin Samsung Electronics shed 1.35 percent , and SK hynix, a major chipmaker, fell 0.99 percent.In contrast, Hyundai Motor, the No. 1 automaker, moved up 1.66 percent, and top chemical firm LG Chem rose 0.91 percent.POSCO, the steelmaker, advanced 3.44 p

Oct. 19, 2017

Seoul stocks almost flat amid profit-taking

South Korean stocks finished almost flat Wednesday, after paring earlier gains, as investors opted to cash in recent gains amid a bullish run, market analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index edged down 1.46 points, or 0.06 percent, to close at 2,482.91.Trade volume was moderate at 241 million shares worth 5.72 trillion won ($5.1 billion), with losers outnumbering gainers 510 to 289.The local stock market opened higher as top market

Oct. 18, 2017

Foreigners sell S. Korean stocks and bonds for second straight month over N. Korea risks

Foreign investors offloaded South Korean stocks and bonds worth $4.3 billion in September due to profit-taking amid North Korea risks, the central bank said Wednesday.Foreign investors sold local stocks and bonds worth $830 million and $3.47 billion, respectively, the Bank of Korea said.It marked the second straight month of sell-offs by foreign investors. In August, they sold South Korean stocks and bonds worth $3.25 billion, marking the first month of sell-offs since November 2016, when foreig

Oct. 18, 2017

Korean stocks down late Wednesday morning

South Korean stocks traded lower Wednesday morning, paring back earlier increases, as investors attempted to cash in recent gains.The benchmark Korea Composite Stock Price Index shed 4.22 points, or 0.17 percent, to 2,480.15 as of 11:15 a.m. Market kingpin Samsung Electronics was 0.88 percent down, and SK hynix, a major chipmaker, dipped 3.35 percent.In contrast, Naver, the country's top Internet portal operator, advanced 5.60 percent, and Hyundai Motor, the No. 1 automaker, surged 2.34 percent.

Oct. 18, 2017

Signs of easing Korea-China tension lift entertainment stocks

Entertainment stocks in South Korea, long trapped under China‘s alleged ban on Korean artists performing in the country, rallied on anticipation of an easing of the Korea-China relationship after a renewed won-yuan currency swap deal last week. Shares of firms devoted to the Korean popular culture industry, ranging from K-pop music to TV series and films, have largely contributed to gains of the second-tier Kosdaq index Tuesday by 1.68 percent. Many entertainment stocks in Korea are listed

Oct. 17, 2017

Seoul stocks hit another new high on Samsung gains

South Korean stocks rose to a fresh all-time high Tuesday as market cap Samsung Electronics shot up on earnings hopes, market analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index gained 4.32 points, or 0.17 percent, to close at 2,484.37, after rising to as much as 2,487.88 at one point.Trade volume was moderate at 193 million shares worth 5.24 trillion won ($4.62 billion), with gainers outnumbering losers 403 to 384.The local stock market opene

Oct. 17, 2017

Korean stocks slightly up late Tuesday morning

South Korean stocks traded slightly higher Tuesday morning on tech gains, with top market cap Samsung Electronics rising sharply.The benchmark Korea Composite Stock Price Index rose 2.61 points, or 0.11 percent, to 2,482.66 as of 11:15 a.m. Market kingpin Samsung Electronics was 1.71 percent up after forecasting upbeat third-quarter earnings, aided by robust chip sales.SK hynix, a major chipmaker, advanced 0.59 percent, and Naver, the country's top Internet portal operator, gained 1.05 percent.H

Oct. 17, 2017

Stocks open higher on overnight US gains

South Korean stocks opened higher Tuesday, taking a cue from overnight gains on Wall Street, with market leader Samsung Electronics Co. continuing to increase.The benchmark Korea Composite Stock Price Index climbed 4.64 points, or 0.19 percent, to 2,484.69 in the first 15 minutes of trading. Market kingpin Samsung Electronics was 0.93 percent up after it released upbeat earnings guidance for the third quarter.SK hynix, a major chipmaker, also soared 1.54 percent.In contrast, Hyundai Motor, the N

Oct. 17, 2017

Regulator to check financial health of securities firms aspiring

     The head of South Korea's financial regulator said Monday that financial health is one of key requirements in allowing five leading securities firms to start investment banking businesses.   Choi Jong-ku, chairman of the Financial Services Commission, made the comments during a parliamentary session after being asked about concerns that a massive amount of funds could flow into large investment banks that sell investment management accounts (IMAs).  

Oct. 16, 2017

Seoul stocks rise to new all-time high

South Korean stocks rose to a new all-time high Monday on gains in steelmakers and telecoms, market analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 6.43 points, or 0.26 percent, to close at 2,480.05, after rising to as much as 2,487.71 at one point.Trade volume was moderate at 223 million shares worth 6.1 trillion won ($5.41 billion), with losers outnumbering gainers 411 to 394.The local stock market opened higher as top market cap

Oct. 16, 2017

Over 1 in 10 Korean stocks hit records: KRX

More than 1 in 10 stocks in South Korea’s markets hit an all-time high in closing price this year, while losers outnumbered gainers on both the Kospi and Kosdaq, amid unprecedented rallies mainly led by giants, according to data from market operator Korea Exchange on Monday.  Of 2,023 active common and preferred shares listed through 2016 on both the broad-based Kospi and tech-heavy Kosdaq, 237 had hit record-highs as of Wednesday.Among the 237 shares, about two-thirds, or 157, were o

Oct. 16, 2017

Korean stocks up late Monday morning

South Korean stocks traded slightly higher at all-time high levels Monday morning, with top market cap Samsung Electronics marginally down.The benchmark Korea Composite Stock Price Index rose 2.91 points, or 0.12 percent, to 2,476.53 as of 11:15 a.m.Market kingpin Samsung Electronics was 0.07 percent down after forecasting upbeat third-quarter earnings, aided by robust chip sales. SK hynix, a major chipmaker, plunged 2.76 percent, and Naver, the country's top Internet portal operator, gained 0.1

Oct. 16, 2017

Stocks open higher on US gains

South Korean stocks opened higher Monday, taking a cue from a rise in US stocks last week, with market leader Samsung Electronics Co. continuing to increase.The benchmark Korea Composite Stock Price Index climbed 6.43 points, or 0.26 percent, to 2,480.05 in the first 15 minutes of trading. Market kingpin Samsung Electronics was 0.41 percent up after it released an upbeat earnings guidance for the third quarter.SK hynix, a major chipmaker, also improved 0.35 percent.In contrast, Hyundai Motor, th

Oct. 16, 2017

Korean, US financial chiefs discuss North Korea, FTA

The top financial policymakers of South Korea and the United States met Saturday on the sidelines of the Group of 20 Finance Ministers Meeting in Washington D.C. Finance Minister Kim Dong-yeon and Treasury Secretary Steven Mnuchin discussed pending issues including North Korea, the bilateral free trade agreement and the US report on currency manipulation, according to Seoul officials.They expressed concerns over Pyongyang's nuclear and missile provocations and agreed to enhance policy coordinati

Oct. 15, 2017

Hyundai, Kia's US market share drops to 8-yr low

Hyundai Motor Co. and Kia Motors Corp. saw their combined market share in the United States drop to an eight-year low, as their sales fell more than 10 percent in the first nine months of the year, industry data showed Sunday.The two leading automakers in South Korea sold 969,670 cars in the United States over the January-September period, down 10.2 percent from a year earlier.Their market share fell 0.7 percentage point on-year to 7.5 percent, marking its lowest level since 2009, when it hit 7

Oct. 15, 2017

Nearly 190 firms delisted over 5 years

Nearly 190 companies have been delisted from the South Korean stock market over the past five years due to poor financial health or other reasons, data showed Sunday.A total of 189 firms, including the country's top shipping line Hanjin Shipping Co., were delisted from the country's main KOSPI and secondary KOSDAQ markets between 2012 and July this year, according to the data by the Korea Corporate Governance Service.Hanjin Shipping was delisted in March after being declared bankrupt the previou

Oct. 15, 2017

Moody's Analytics expects BOK to hold policy rate steady in October

South Korea's central bank is likely to hold its key rate steady this month as soft domestic demand could keep monetary policy accommodative in the near term, a leading provider of economic analysis said Saturday.The Bank of Korea is set to hold its rate review session Thursday to decide whether to keep or adjust the all-time low rate of 1.25 percent. Still, Moody's Analytics said in a report that the South Korean government's stimulus measures such as the proposed 7.1 percent on-year spending i

Oct. 14, 2017