Seoul shares at over 3-month high amid Fed rate cut hopes

South Korean stocks closed higher for the fifth-straight session Wednesday and at the highest in over three months amid expectations that the US Federal Reserve will start its rate-cutting cycle next year. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 45.75 points, or 1.78 percent, to close at 2,614.30, the highest since September 15 when the comparable figure was 2,601.28. Trade volume was moderate at 559.4 million shares worth 11.02 trill

Dec. 20, 2023

Seoul shares open higher on US gains

South Korean stocks got off to a bullish start Wednesday in line with overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed 18.84 points, or 0.73 percent, to 2,587.39 in the first 15 minutes of trading. US stock indexes gained ground overnight, with the Dow Jones Industrial Average rising 0.68 percent and the tech-heavy Nasdaq Composite edging up 0.66 percent, as last week's dovish policy pivot by the Federal Reserve continued to stoke upward market momentu

Dec. 20, 2023

Seoul shares up for 4th day amid US rate cut hopes

South Korean stocks closed slightly higher Tuesday tracking overnight Wall Street gains and on expectations the US Federal Reserve will start its rate-cutting cycle. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 1.69 points, or 0.07 percent, to close at 2,568.55. Trade volume was light at 364.2 million shares worth 8.06 trillion won ($6.16 billion). Losers, however, outpaced winners 523 to 361. Overnight, the S&P 500 gained 0.5 percent

Dec. 19, 2023

Seoul shares open lower on foreign sell-offs

South Korean stocks opened lower Tuesday despite overnight gains on Wall Street due to foreign and institutional sell-offs. The benchmark Korea Composite Stock Price Index fell 9.17 points, or 0.36 percent, to 2,557.69 in the first 15 minutes of trading. Overnight, the S&P 500 gained 0.5 percent to continue its weekslong rally and the Nasdaq 100 climbed 0.6 percent to hit a record high for the second consecutive session. The Dow Jones Industrial Average closed flat. In Seoul, most of the big

Dec. 19, 2023

Seoul shares open lower on profit-taking

South Korean stocks opened lower Monday as investors opted to cash in recent gains amid hopes for the Federal Reserve's rate cuts next year. The benchmark Korea Composite Stock Price Index fell 0.60 point, or 0.02 percent, to 2,562.96 in the first 15 minutes of trading. Last week, the Fed kept its rates unchanged and hinted at possible cuts for 2024. Leading tech giant Samsung Electronics fell 0.41 percent, and No. 2 chipmaker SK hynix also lost 0.50 percent. Top carmaker Hyundai Motor also

Dec. 18, 2023

Seoul shares close higher on hope for US rate cuts

South Korean stocks closed higher Friday amid expectations the U.S. Federal Reserve will start its rate-cutting cycle in 2024. The local currency inched down against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 19.38 points, or 0.76 percent, to close at 2,563.56. Trade volume was moderate at 458.2 million shares worth 12.7 trillion won ($9.8 billion), with winners outpacing losers 498 to 378. Foreigners bought a net 849.5 billion won, while individuals dumped a net 1.1

Dec. 15, 2023

Seoul shares open higher amid Fed rate cut hope

South Korean stocks opened higher Friday, tracking overnight gains from Wall Street, as investors remained buoyed by the Federal Reserve's possible rate cuts next year. The benchmark Korea Composite Stock Price Index rose 20.26 points, or 0.8 percent, to 2,564.44 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.43 percent higher, and the tech-heavy Nasdaq Composite added 0.19 percent. In Seoul, leading tech giant Samsung Electronics rose 0.96 percent,

Dec. 15, 2023

Seoul shares spike 1.3% on US rate cut hope

South Korean stocks rose sharply Thursday as investors scooped up major tech shares while cheering the US Federal Reserve's hint over rate cuts in 2024. The benchmark Korea Composite Stock Price Index shot up 33.52 points, or 1.34 percent, to close at 2,544.18. Trade volume was high at 522.5 million shares worth 12.78 trillion won ($9.8 billion), with winners outpacing losers 463 to 418. Foreigners bought a net 624.2 billion won, while individuals dumped a net 1.33 trillion won. Institution

Dec. 14, 2023

Seoul shares open sharply higher as Fed hints at rate cuts

South Korean stocks opened sharply higher Thursday as investors cheered the US Federal Reserve's hint at possible rate cuts next year. The benchmark Korea Composite Stock Price Index rose 36.26 points, or 1.44 percent, to 2,546.92 in the first 15 minutes of trading. Overnight, the Federal Reserve announced its decision to keep its rate between 5.25 and 5.50 percent, and hinted that its hiking campaign may be near or at an end. In Seoul, top tech giant Samsung Electronics gained 1.65 percent

Dec. 14, 2023

Seoul shares snap 3-day rise ahead of FOMC meeting results

South Korean stocks closed lower Wednesday as investors sat on the sidelines ahead of the release of the US Federal Reserve's meeting results, analysts said. The benchmark Korea Composite Stock Price Index fell 24.61 points, or 0.97 percent, to close at 2,510.66 ending its three-day advance. Trade volume was low at 367 million shares worth 7.32 trillion won ($5.45 billion), with losers outpacing winners 596 to 270. Foreigners sold a net 130 billion won, while institutions bought a net 94.3

Dec. 13, 2023

Seoul shares open lower as US inflation data meets expectations

South Korean stocks opened lower Wednesday as investors digested the latest US inflation data that met market expectations while waiting for this week's Federal Reserve meeting. The benchmark Korea Composite Stock Price Index fell 7.67 points, or 0.3 percent, to 2,527.6 in the first 15 minutes of trading. The United States announced its on-year inflation came to 3.1 percent in November, falling in line with the market estimate. Investors, meanwhile, also waited for hints over the future dir

Dec. 13, 2023

Seoul shares up for 3rd day ahead of US inflation data, Fed meeting

South Korean stocks closed higher for the third straight trading day on Tuesday amid the growing hope over a possible slowdown in US inflation and the Federal Reserve's potential signal for rate cuts next year. After choppy trading, the benchmark Korea Composite Stock Price Index added 9.91 points, or 0.39 percent, to close at 2,535.27, extending its winning streak to a third day. Trade volume was low at 365 million shares worth 7.49 trillion won ($5.7 billion), with losers outpacing winner

Dec. 12, 2023

Seoul shares open higher ahead of US inflation data, Fed meeting

South Korean stocks opened higher Tuesday as investors awaited this week's US inflation data, as well as the Federal Reserve's rate-setting meeting. The benchmark Korea Composite Stock Price Index added 12.57 points, or 0.5 percent, to 2,537.93 in the first 15 minutes of trading. The United States is set to release its consumer price index Tuesday, with investors also closely eyeing the future monetary policy direction from the Federal Open Market Committee meeting. In Seoul, tech shar

Dec. 12, 2023

Seoul shares close tad higher ahead of US Fed meeting

South Korean stocks closed slightly higher on Monday as investors awaited clues over future US monetary policy directions ahead of this week's Federal Reserve meeting. The benchmark Korea Composite Stock Price Index added 7.51 points, or 0.3 percent, to close at 2,525.36 Trade volume was moderate at 424 million shares worth 7.97 trillion won ($6 billion), with winners outnumbering losers 479 to 375. Foreigners bought a net 4.46 billion won worth of shares, while individuals offloaded a net

Dec. 11, 2023

Seoul shares open higher ahead of Fed meeting

South Korean stocks opened higher Monday ahead of the Federal Reserve's rate-setting meeting slated for this week. The benchmark Korea Composite Stock Price Index added 8.58 points, or 0.34 percent, to 2,526.43 in the first 15 minutes of trading. Investors are awaiting this week's Federal Open Market Committee meeting, with its key rate anticipated to remain steady between 5.25 and 5.50 percent. In Seoul, tech shares traded higher, with LG Energy Solution adding 0.23 percent and SK hyn

Dec. 11, 2023

Seoul shares up over 1% on strong techs; won sharply up

South Korean stocks gained more than 1 percent Friday, led by the strong performance of big-cap tech shares that tracked overnight gains on Wall Street. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index added 25.78 points, or 1.03 percent, to finish at 2,517.85. The secondary KOSDAQ jumped 2.11 percent to end at 830.37. The Kospi's trade volume was moderate at 421.4 million shares worth 7.69 trillion won (US$5.88 billion), with winners ou

Dec. 8, 2023

Seoul shares open higher on US gains

South Korean stocks got off to a strong start Friday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 20.03 points, or 0.8 percent, to 2,512.10 in the first 15 minutes of trading. Overnight, all three major US indexes gained ground, with the tech-heavy Nasdaq composite up 1.37 percent, as communication and IT shares rallied on favorable news in the artificial intelligence sector. Alphabet, the parent company of Google, jumped more than 5 percent on t

Dec. 8, 2023

Seoul shares edge down amid US slowdown woes; won sharply down

South Korean stocks ended lower Thursday as investors were concerned the US economy may be losing steam. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 3.31 points, or 0.13 percent, to close at 2,492.07. Trade volume was moderate at 440.6 million shares worth 8.03 trillion won ($6.06 billion), with losers outnumbering gainers 525 to 354. Institutions dumped a combined 204.8 billion won worth of shares, while individual and foreign inve

Dec. 7, 2023

Seoul shares open lower on US tech slide

South Korean stocks got off to a weak start Thursday as tech shares took a cue from overnight losses in US heavyweights, like Nvidia and Microsoft. The benchmark Korea Composite Stock Price Index retreated 8.91 points, or 0.36 percent, to 2,486.47 in the first 15 minutes of trading. Overnight, all three major US indexes lost ground despite jobs data that reinforced expectations the Federal Reserve may start cutting its rates early next year. AI chip leader Nvidia sank 2.3 percent, while Microsof

Dec. 7, 2023

Mirae Asset Securities names new CEOs

Mirae Asset Securities, Korea’s largest investment bank and securities firm, said Wednesday that it has appointed Vice Chairman Heo Sun-ho as CEO. He will lead the company’s sprawling business together with Vice Chairman Kim Mi-seob, whose appointment was confirmed earlier in October. With Heo’s appointment, which was approved at a board of directors meeting earlier on the day, the company has completed a generational shift in its long-held dual leadership system. Heo will co

Dec. 6, 2023