Stocks open slightly higher on chemicals, banks

South Korean stocks opened slightly high Monday, as investors scooped up chemicals amid a rebound in oil prices.The benchmark Korea Composite Stock Price Index rose 3.17 points, or 0.13 percent, to 2,394.96 in the first 15 minutes of trading. Market kingpin Samsung Electronics remained unchanged, and SK hynix was 1.93 percent down.Hyundai Motor, the No. 1 automaker, surrendered 0.31 percent, while AmorePacific, the country's top cosmetics maker, rose 1.32 percent.LG Chem, the country's top

July 3, 2017

Foreign investors' net purchase tops W10tr in 1st half

Foreign investors’ net purchase of South Korean stocks are estimated to go beyond 10 trillion won ($8.7 billion) in the first half of 2017, the highest since 2009, data showed Sunday. Their combined net purchase in the first-tier and second-tier stock markets reached 10.3 trillion won from January until Friday, according to data by Koscom, a market watcher launched by the Finance Ministry and the Korea Exchange.Of the total 10.3 trillion won, offshore net purchase in the main bourse amount

July 2, 2017

Seoul stocks fall on foreign, institutional sell-off

South Korea's main stock index declined on Friday, driven by the sell-offs by foreign and institutional investors with risk aversion on the rise. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index fell 3.87 points, or 0.16 percent, to close at 2,391.79. Trade volume was moderate at 332 million shares worth 5 trillion won ($4.4 billion). The local stock market opened lower, tracking declines on the Wall Street overnight. However, the main stock index, w

June 30, 2017

Korea's finance minister has no immediate plan to raise growth forecast from 2.6%

South Korea's finance minister said Friday that he has no immediate plan to raise the current economic growth forecast of 2.6 percent despite an uptick in exports and world trade."If the supplementary budget is approved and implemented in a timely manner and we see its effect, the growth rate can probably go up," Finance Minister Kim Dong-yeon told reporters after an event held in Goyang on the northern outskirts of Seoul. The government submitted an 11.2 trillion won ($9.8 billion) ex

June 30, 2017

Korea’s Eximbank helps develop Uganda’s agriculture

The Export-Import Bank of Korea said Friday it held a joint workshop with World Bank to come up with details on how to support agriculture development in Uganda.The four-day workshop in the capital city of Kampala aimed to further the discussion for the $300 million joint program between the Eximbank’s Economic Development Cooperation Fund and the World Bank to develop the African country’s agriculture, energy, and information, communications and technology sectors during 2015-2019.T

June 30, 2017

Korean shares down in late morning trading

South Korean shares traded lower late Friday morning, as investors opted to cash in part of their recent gains.The benchmark Korea Composite Stock Price Index shed 10.34 points, or 0.43 percent, to 2,385.32 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 1.34 percent, and global chipmaker SK hynix down 1.75 percent.Top automaker Hyundai Motor fell 0.93 percent, and its smaller affiliate Kia Motors traded 0.66 percent lower.POSCO, the No. 1 steelmaker, adva

June 30, 2017

Seoul stocks open lower on Wall Street drop

South Korea's main stock index retreated from an all-time high Friday, tracking declines on Wall Street overnight. The benchmark Korea Composite Stock Price Index fell 12.5 points, or 0.52 percent, to 2,383.16 in the first 15 minutes of trading. Most large caps traded mixed with market kingpin Samsung Electronics falling 1.67 percent.Top automaker Hyundai Motor remained flat, and top steelmaker POSCO slipped 0.53 percent.The local currency was trading at 1,146.75 won against the U.S. 

June 30, 2017

Kospi touches historic 2,400 mark

South Korea’s main bourse index touched 2,400 for the first time in its history in early morning trade Thursday, before closing at record-high.Opening at 2,396.81, up 0.6 percent from Wednesday’s close, the benchmark Korea Composite Stock Price Index surpassed 2,400 at around 9:50 a.m. Thursday.Following the historic touch, the Kospi closed at 2,395.66, up 0.55 percent from the day before. It marked the third this week that the Kospi hit an all-time high. Foreign and institutional in

June 29, 2017

Korea to impose higher taxes on wealthy: advisory panel

South Korea’s presidential policy advisory panel made it official Thursday that the liberal Moon Jae-in government will impose higher taxes on high-income earners and conglomerates in the long term, while continuing tax incentives for low-income households.The State Affairs Planning Advisory Committee, in charge of setting up long-term five-year policy plans, said it will seek to establish a tentatively-named “Special Committee on Taxation and Fiscal Reform” in the second half.

June 29, 2017

Seoul stocks finish at new record high on large-cap gains

South Korea's main stock index finished at a fresh record high Thursday, helped by gains in large-cap stocks amid optimism on global economic growth. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 13.1 points, or 0.55 percent, to close at 2,395.66. Trade volume was moderate at 433 million shares worth 5.38 trillion won ($4.71 billion). The local stock market opened higher, tracking overnight gains on Wall Street. On the back of a buying spree

June 29, 2017

Korean shares extend gains, KOSPI breaks 2,400 points for 1st time

South Korean shares extended their rally late Thursday morning, with the main stock index breaking through the 2,400-point level for the first time. The benchmark Korea Composite Stock Price Index rose 17.01 points, or 0.71 percent, to 2,399.57 as of 11:20 a.m. The index touched 2,402.80 at one point earlier in the day, marking its all-time intra-day high, on the back of net purchases by foreign and institutional investors. Large caps traded mixed with market kingpin Samsung Electronics adding 0

June 29, 2017

Samsung Electronics, SK hynix lead stock price hikes: data

Electronics and semiconductors have led the latest stock market boom in Asia's fourth-biggest economy, data showed Thursday, amid expectations of solid corporate earnings helped by the global economic recovery.Stock prices of Samsung Electronics, SK hynix, and other electronics and semiconductor manufacturers rose 37.32 percent as of Tuesday from the beginning of this year, more than double the increase rate of 18.05 percent for the benchmark Korea Composite Stock Price Index, according to data

June 29, 2017

Seoul stocks start higher tracking Wall Street

South Korean shares opened higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 12.14 points, or 0.51 percent, to 2,394.70 in the first 15 minutes of trading. The index hit a fresh intra-day record high of 2,397.95 at one point. Most large caps traded mixed with market kingpin Samsung Electronics gaining 1.26 percent.Top automaker Hyundai Motor fell 0.62 percent, while top steelmaker POSCO rose 0.53 percent.The local currency was tra

June 29, 2017

Seoul stocks retreat from all-time high on foreign sell-offs

South Korean stocks slumped on Wednesday, retreating from the previous session's all-time high, as foreign investors remained net sellers. The Korean won declined against the US dollar. The benchmark Korea Composite Stock Price Index declined 9.39 points, or 0.39 percent, to close at 2,382.56. Trade volume was moderate at 340 million shares worth 5.79 trillion won ($5.06 billion). The local stock market opened lower with subdued sentiment after a key vote on US President Donald Trump's heal

June 28, 2017

30% of senior citizens received pensions in 2016: report

The percentage of elderly South Koreans receiving public or private pensions stood at 30 percent in 2016, a government report showed Wednesday.The report by the Board of Audit and Inspection, which analyzed data by the NPS and private insurance companies, showed many people remaining unprotected by the country's social security net, although measures are being taken to correct the situation. The government expects the coverage will likely rise to 37 percent in 2020, 42.3 percent in 2030 and 55.5

June 28, 2017

Korean shares down in late morning trading

South Korean shares traded lower late Wednesday morning as sentiment subdued after a key vote on US President Donald Trump's healthcare reform was delayed. The benchmark Korea Composite Stock Price Index fell 6.17 points, or 0.26 percent, to 2,385.78 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 1.37 percent and global chipmaker SK hynix down 1.59 percent.Top automaker Hyundai Motor rose 0.31 percent, and its smaller affiliate Kia Motors traded

June 28, 2017

Chipmaking, petrochemical sectors to benefit from bullish market: report

South Korea's chipmaking and petrochemical sectors are positioned to benefit the most from the ongoing global economic recovery, with the sectors' exports expected to remain bullish moving forward, a report showed on Wednesday.IBK Economic Research Institute, a research arm of Industrial Bank of Korea, said in the report that small and mid-sized firms in the sectors are poised to gain from the upward business cycle.The country's exports of computer chips reached $20.2 billion in the first quarte

June 28, 2017