Seoul shares down for 4th day ahead of key US economic data releases

Seoul shares ended lower for a fourth straight day Monday as investors sat on the sidelines ahead of the release of major US economic data, which will give clues on the Federal Reserve's monetary policy direction. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.26 points, or 0.4 percent, to close at 2,567.82. Trade volume was slim at 313.6 million shares worth 6.7 trillion won ($5.1 billion), with losers outpacing winners 500 to 358. Instit

Jan. 8, 2024

Seoul shares open higher on tech gains

South Korean stocks opened higher Monday as big-cap technology shares gained ground. The benchmark Korea Composite Stock Price Index gained 9.90 points, or 0.38 percent, to 2,587.98 in the first 15 minutes of trading. Market bellwether Samsung Electronics climbed 0.91 percent, while No. 2 chipmaker SK hynix fell 0.51 percent. Leading battery maker LG Energy Solution added 0.48 percent, while its smaller rival Samsung SDI shed 0.56 percent. IT stocks were bullish, with internet portal operator Na

Jan. 8, 2024

Seoul shares down for 3rd day on dampened hopes for Fed's early rate cuts

Seoul shares ended lower for a third straight day Friday, after robust employment data weighed on expectations for an early rate cut by the Federal Reserve this year. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 8.94 points, or 0.35 percent, to close at 2,578.08. The Kospi has fallen 2.9 percent this week. Trade volume was moderate at 514.78 million shares worth 8.27 trillion won ($6.28 billion), with losers outpacing winners 515 to 343. Overnig

Jan. 5, 2024

Seoul shares down for 2nd day on overdone hope for Fed rate cuts

Seoul shares ended lower for a second straight day Thursday, after the latest Fed minutes indicated interest rates will remain at a high level for some time. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 20.29 points, or 0.78 percent, to close at 2,587.02. Trade volume was moderate at 761.45 million shares worth 8.84 trillion won ($6.8 billion), with losers outpacing winners 614 to 277. Institutions sold a net 800 billion won worth of stocks, out

Jan. 4, 2024

Seoul shares open lower after Fed minutes

Seoul shares opened lower Thursday, following an overnight slump in US stocks, after the latest Fed minutes indicated interest rates will remain at high levels for some time. The benchmark Korea Composite Stock Price Index fell 10.97 points, or 0.42 percent, to 2,596.34 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.8 percent to 37,430.19, and the tech-heavy Nasdaq declined 1.2 percent to 14,592.21. Fed minutes from its December meeting indicated rates cou

Jan. 4, 2024

Seoul shares dip over 2% on profit taking ahead of Fed minutes

South Korean stocks dropped by more than 2 percent Wednesday as investors sought to cash in recent gains ahead of the release of the Federal Reserve's latest minutes. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 62.50 points, or 2.34 percent, to close at 2,607.31, ending its four-day winning streak. Trade volume was moderate at 455.9 million shares worth 9.99 trillion won ($7.65 billion), with losers outpacing winners 610 to 279. Foreigners

Jan. 3, 2024

Seoul shares open lower ahead of Fed minutes

Seoul shares opened lower Wednesday after a mixed close on Wall Street as investors await the release of the Federal Reserve's minutes for clues on the US central bank's future rate plans. The benchmark Korea Composite Stock Price Index fell 31.05 points, or 1.2 percent, to 2,638.76 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average inched up 0.07 percent to 37,715.04, but the tech-heavy Nasdaq fell 1.6 percent to 14,765.94. The Fed's latest minutes ar

Jan. 3, 2024

Seoul shares end higher on tech gains on 1st day of 2024

Seoul shares closed higher Tuesday, the first trading day of the year, helped by tech gains and an improving global appetite for risky assets. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 14.53 points, or 0.55 percent, to close at 2,669.8, extending its winning streak to a fourth day. Trade volume was moderate at 404.2 million shares worth 9.5 trillion won ($7.3 billion), with decliners outpacing gainers 449 to 436. Institutions and foreigners b

Jan. 2, 2024

[Photo News] First trading day of 2024

President Yoon Suk Yeol (center) attends the opening ceremony of the nation’s first stock trading day of the year at the Korean Stock Exchange in Seoul on Tuesday, becoming the first Korean president to do so. From left are Seo Yoo-seok, chairman of the Korea Financial Investment Association; Rep. Yu Eui-dong from the ruling People Power Party; Sohn Byung-doo, chairman of the Korea Exchange; Finance Minister Choi Sang-mok; Financial Services Commission Chairman Kim Joo-hyun; and Lee Bok-

Jan. 2, 2024

Foreigners’ net buying of Samsung hits new high in 2023

Foreign investors snapped up investments in Samsung Electronics last year, net buying more than 16 trillion won ($12.31 billion) worth of shares, buoyed by the expectations of a recovery of the global chip industry. In 2023, foreign investors scooped up a net 16.73 trillion won of shares in Samsung Electronics, the largest amount since related data was compiled from 1999, according to the nation’s sole bourse operator Korea Exchange. It also marked a turnaround from their net selling stanc

Jan. 1, 2024

[Herald Interview] Palliser CIO skeptical of Samsung C&T stock cancellation plan

British activist investor Palliser Capital founder said Samsung C&T’s five-year treasury stock retirement plan won’t be helpful to shore up its stock price, urging swift action to resolve investors’ concerns over its governance structure. “Cancellation of treasury shares has been mischaracterized as a shareholder return by the company,” Palliser Capital founder and Chief Investment Officer James Smith told The Korea Herald in an email interview. “Managemen

Dec. 28, 2023

Seoul shares close slightly higher despite ex-dividend

South Korean stocks finished moderately higher Wednesday on foreign and individual purchases. The local currency rose slightly against the US dollar. Swinging between gains and losses, the benchmark Korea Composite Stock Price Index gained 10.91 points, or 0.42 percent, to close at 2,613.5. Trade volume was higher at 345.9 million shares worth 10.3 trillion won ($7.6 billion), but decliners outnumbered gainers 591 to 300. Foreigners scooped up a net 231.1 billion won worth of local shares and in

Dec. 27, 2023

Seoul shares open tad higher on US gains

South Korean stocks started a tad higher Wednesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed 1.09 points, or 0.04 percent, to 2,603.68 in the first 15 minutes of trading. US stock indices gained ground, with the Dow Jones Industrial Average rising 0.43 percent and the tech-heavy Nasdaq Composite gaining 0.54 percent. In Seoul, tech and battery shares led the positive start. Samsung Electronics, the world's largest memory chipmaker, inc

Dec. 27, 2023

Seoul shares end tad higher on cautious mode

South Korean stocks closed slightly higher Tuesday as investors remained cautious after a recent rally stemming from the US central bank's dovish stance. The local currency rose against the greenback. After choppy trading, the benchmark Korea Composite Stock Price Index gained 3.08 points, or 0.12 percent, to close at 2,602.59, ending the two-day losing streak. Trade volume was moderate at 429.4 million shares worth 9.4 trillion won ($7.26 billion), but decliners outnumbered gainers 491 to

Dec. 26, 2023

Seoul shares start nearly flat

South Korean stocks opened nearly unchanged on Tuesday as major shares traded in mixed territory. The benchmark Korea Composite Stock Price Index edged down 0.48 point, or 0.02 percent, to 2,599.03 in the first 15 minutes of trading. Market heavyweights were mixed, with tech giant Samsung Electronics remaining flat and its chipmaking rival SK hynix gaining 0.36 percent. Leading battery maker LG Energy Solution dropped 0.24 percent, but its chemicals-making unit LG Chem rose 1.22 percent. Top aut

Dec. 26, 2023

Seoul shares open higher on US gains

South Korean stocks got off to a bullish start Friday in line with overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed 8.68 points, or 0.33 percent, to 2,608.70 in the first 15 minutes of trading. US stock indexes gained ground overnight, with the Dow Jones Industrial Average rising 0.87 percent and the tech-heavy Nasdaq Composite adding 1.26 percent amid continued hopes that the Federal Reserve would ease its monetary policy. In Seoul, blue chips traded highe

Dec. 22, 2023

Capital gains tax rules eased for stock investors

The South Korean government will raise the threshold for major shareholders' capital gains tax to those holding 5 billion won ($3.83 million) worth of stocks from the current 1 billion won, the Finance Ministry announced Thursday. The Ministry of Finance will revise the capital gains tax regulation in the Enforcement Decree of the Income Tax Act. As it falls under an enforcement ordinance, the government does not have to earn approval from the National Assembly. Korea currently levies capit

Dec. 21, 2023

Seoul shares end 5-day winning streak on profit taking, US losses

South Korean stocks finished lower Thursday as investors took profit following a five-session winning streak and overnight US losses. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 14.28 points, or 0.55 percent, to close at 2,600.02. Trade volume was moderate at 569.4 million shares worth 9.31 trillion won ($7.14 billion), with losers outpacing winners 616 to 257. On Wednesday, the Kospi rose 1.78 percent to close at 2,614.30, its highest p

Dec. 21, 2023

S. Korea to ease rules on capital gains tax for stock investors

South Korea will loosen rules on the capital gains tax for stock investors in an effort to prevent a possible year-end selling spree and the subsequent market chaos, the finance ministry said Thursday. The country currently levies the tax on shareholders who own stocks worth more than 1 billion won ($766,812), but the government decided to raise the threshold to 5 billion won, according to the Ministry of Economy and Finance. "The measure was in consideration of the recent capital market si

Dec. 21, 2023

Seoul shares open lower on profit-taking, US losses

South Korean stocks opened lower Thursday as investors unloaded shares following the five-session winning streak and overnight Wall Street losses. The benchmark Korea Composite Stock Price Index fell 8.02 points, or 0.31 percent, to 2,606.28 in the first 15 minutes of trading. On Wednesday, the Kospi soared 1.78 percent to close at 2,614.30, its highest point since Sept. 15. US stocks fell overnight, with the Dow Jones Industrial Average slipping 1.27 percent and the tech-heavy Nasdaq Composite

Dec. 21, 2023