'Bedbug' stocks soar amid investors' race to make quick cash

Recent reports of bedbug infestations in various public spaces, including a university dormitory, low-cost apartments, and saunas, have raised alarms of an impending nationwide outbreak across South Korea, prompting the government to launch a multi-agency task force on Tuesday. But, it turns out bedbugs are causing more than just itchy bites -- they're now making waves in the South Korean stock market, as savvy investors are bullish on pesticide manufacturers. On Tuesday, agrochemical compa

Nov. 8, 2023

Seoul shares fall amid lingering woes over short selling ban

South Korean stocks ended lower Wednesday amid lingering woes over the country's ban on short selling. The local currency gained ground against the greenback. After choppy trading, the benchmark Korea Composite Stock Price Index fell 22.34 points, or 0.91 percent, to close at 2,421.62. Trading volume was moderate at 461.3 million shares worth 7.54 trillion won ($5.75 billion), with losers outnumbering gainers 498 to 378. After opening higher, the Kospi climbed as high as nearly 1 percent in

Nov. 8, 2023

Seoul shares open higher on Wall Street gains

South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street over a slide in Treasury yields there. The benchmark Korea Composite Stock Price Index rose 10.84 points, or 0.44 percent, to 2,454.80 in the first 15 minutes of trading. US stocks closed higher overnight, with the Dow Jones Industrial Average edging up 0.2 percent and the Nasdaq Composite rising 0.9 percent amid an easing of Treasury yields there. In Seoul, battery and bio-related shares opened stronger, with l

Nov. 8, 2023

Seoul shares slide 2.3% after record gains over short selling ban

South Korean stocks ended more than 2.3 percent lower Tuesday as investors took profit following the previous session's sharpest-ever daily gains prompted by the country's reimposing of a ban on stock short selling. The local currency sharply fell against the greenback. The benchmark Korea Composite Stock Price Index sank 58.41 points, or 2.33 percent, to close at 2,433.96, bringing its four-session winning streak to a close. Trading volume was moderate at 447.6 million shares worth 11

Nov. 7, 2023

Seoul shares open lower after record daily gain

South Korean stocks opened lower Tuesday as investors took profit following the previous session's sharpest-ever daily gains prompted by the country's reimposing of a ban on stock short selling. The benchmark Korea Composite Stock Price Index fell 42.25 points, or 1.69 percent, to 2,460.12 in the first 15 minutes of trading. On Monday, the Kospi logged its largest daily gain of 134.03 points, or 5.66 percent, buoyed by the short selling ban that will be in place by the end of June 2024

Nov. 7, 2023

Foreign investors remain net sellers of S. Korean stocks in October

Foreign investors sold a net 3.1 trillion won ($2.39 billion) worth of South Korean stocks last month, extending their selling spree to a third consecutive month, data showed Tuesday. Foreigners owned 624.8 trillion won worth of local stocks, accounting for 27.2 percent of total market capitalization after the sell-off, according to the data from the Financial Supervisory Service. By country, Norway was the top net buyer of local stocks last month, net purchasing 600 billion won worth of shares,

Nov. 7, 2023

Seoul shares surge to over 11-month high after short selling ban

South Korean stocks surged over 5.6 percent Monday as the country reimposed a ban on stock short selling to crack down on illegal market practices by global investment banks. The local currency sharply rose against the greenback. The benchmark Korea Composite Stock Price Index soared 134.03 points, or 5.66 percent, to close at 2,502.37, extending its winning streak to a fourth day. Tech and battery-related stocks led the overall market advance. Trading volume was high at 518.4 million shares wor

Nov. 6, 2023

Seoul shares open higher on stock short selling ban

South Korean stocks opened higher Monday as the country launched a temporary ban on stock short selling to crack down on illegal market practices by global investment banks. The benchmark Korea Composite Stock Price Index climbed 48.16 points, or 2.03 percent, to 2,416.50 in the first 15 minutes of trading. On Sunday, the Financial Services Commission announced the ban on stock short selling, effective starting Monday through the end of June 2024, citing concerns about growing market volatility

Nov. 6, 2023

Seoul shares up for 3rd session on Fed's rate freeze

South Korean stocks advanced for the third consecutive session Friday amid hope that the US rate-hike cycle has come to an end. The local currency sharply rose against the greenback. The benchmark Korea Composite Stock Price Index shot up 25.22 points, or 1.08 percent, to close at 2,368.34. Trading volume was moderate at 567 million shares worth 7.86 trillion won ($5.94 billion), with gainers outnumbering losers 717 to 159. Foreigners dumped a net 134.8 billion won worth of local shares, and ind

Nov. 3, 2023

Seoul shares open higher on US advance

South Korean stocks opened higher Friday tracking overnight gains on Wall Street amid expectations that the Federal Reserve's monetary tightening mode has passed. The benchmark Korea Composite Stock Price Index shot up 20.62 points, or 0.88 percent, to 2,363.74 in the first 15 minutes of trading. US stocks closed higher overnight, with the Dow Jones Industrial Average advancing 1.7 percent and the Nasdaq Composite rising 1.78 percent. The Fed has kept its benchmark lending rate steady at a

Nov. 3, 2023

Seoul shares shoot up nearly 2% on Fed's back-to-back rate freeze

South Korean stocks soared nearly 2 percent Thursday after the US Federal Reserve held its key rate steady as widely expected overnight. The local currency sharply rose against the greenback. The benchmark Korea Composite Stock Price Index shot up 41.56 points, or 1.81 percent, to close at 2,343.12 Trading volume was moderate at 370 million shares worth 7.57 trillion won ($5.63 billion), with gainers outnumbering losers 693 to 207. Foreigners dumped a net 141.3 billion won worth of local shares,

Nov. 2, 2023

Seoul shares open higher on Fed's rate freeze

South Korean stocks kicked off higher on Thursday after the US Federal Reserve held its key rate steady as widely expected. The benchmark Korea Composite Stock Price Index shot up 37.01 points, or 1.61 percent, to 2,338.57 in the first 15 minutes of trading. Overnight, the Fed held its benchmark lending rate steady at a 22-year high for a second consecutive time as it keeps striving to bring down inflation to its 2 percent target. US stocks closed higher, with the Dow Jones Industrial Average ad

Nov. 2, 2023

Seoul shares open higher ahead of Fed's rate decision

South Korean stocks got off to a strong start Wednesday, tracking overnight gains on Wall Street, as investors picked up tech bargains following a recent sharp fall awaiting the Federal Reserve's rate-setting decision. The benchmark Korea Composite Stock Price Index added 31.57 points, or 1.39 percent, to 2,309.56 in the first 15 minutes of trading. Overnight, US shares finished higher, with the Dow Jones Industrial Average rising 0.38 percent and the tech-heavy Nasdaq Composite going up 0.

Nov. 1, 2023

Seoul shares drop to 10-month low ahead of Fed meeting

South Korean stocks slid to the lowest point since early January on Tuesday as investors await the Federal Reserve's policy meeting this week. The local currency rose against the greenback. The benchmark Korea Composite Stock Price Index fell 32.56 points, or 1.41 percent, to close at 2,277.99, marking the lowest point since Jan. 5, when the comparable figure was 2,264.65. Trading volume was moderate at 387.6 million shares worth 8 trillion won ($5.95 billion), with losers outnumbering gain

Oct. 31, 2023

Seoul shares open higher on US gains

South Korea stocks got off to a strong start Tuesday, tracking overnight gains on Wall Street, analysts said. The benchmark Korea Composite Stock Price Index rose 7.09 points, or 0.31 percent, to 2,317.64 in the first 15 minutes of trading. US stocks closed higher overnight, with the Dow Jones Industrial Average advancing 1.58 percent and the Nasdaq Composite rising 1.16 percent. The rebound came after investors scooped up bargain shares ahead of the US Federal Reserve's monetary policy mee

Oct. 31, 2023

Korea's national pension fund logs over 10% return through October

South Korea's state pension fund registered some 10 percent yield through October on the back of good performance in its investments in local and overseas stocks, its operator said Monday. The National Pension Service (NPS) said the national pension fund logged a 10.27 percent return in the January-October period, with the value of its assets under management reaching 997.38 trillion won($739 billion) as of end-October. Last year, the pension fund logged its worst return at minus 8.28 perce

Oct. 30, 2023

Seoul shares inch up on bargain hunting ahead of Fed meeting

South Korean stocks closed slightly higher Monday as investors scooped up bargains ahead of the US Federal Reserve's policy meeting this week, analysts said. The local currency closed higher against the greenback. The benchmark Korea Composite Stock Price Index gained 7.74 points, or 0.34 percent, to close at 2,310.55. Trading volume was moderate at 437 million shares worth 6.82 trillion won ($5 billion), with gainers outnumbering losers 593 to 281. After opening lower, shares rebounded lat

Oct. 30, 2023

Mirae Asset ETF to make Chinese debut

Mirae Asset Global Investments is making its foray into China’s exchange-traded fund market, becoming the first Korean asset management firm to do so. The Global X Hang Seng Tech ETF, operated by the asset manager’s ETF arm in Hong Kong, will be set up for trading on China’s Shanghai Stock Exchange and Shenzhen Stock Exchange from Nov. 6. The ETF tracks the Hang Seng Tech index, a gauge of the 30 largest Chinese tech shares listed on the Hong Kong Stock Exchange. Through the

Oct. 30, 2023

Seoul shares open lower ahead of Fed meeting this week

South Korean stocks opened lower Monday as investors sat on the sidelines as the US Federal Reserve is set to hold its monetary policy meeting later this week. The benchmark Korea Composite Stock Price Index fell 3.78 points, or 0.16 percent, to 2,299.03 in the first 15 minutes of trading. The Federal Reserve is set to hold its two-day meeting Tuesday and Wednesday, with investors focusing on whether Federal Reserve Chairman Jerome Powell will provide any hint on future monetary policy. Tech gia

Oct. 30, 2023

Seoul shares make slight recovery after massive fall

Korea’s benchmark stock index Kospi recovered to over 2,300 points on the back of bargain hunting on Friday, after experiencing a huge dip the day before. The Kospi closed at 2,302.81, up 3.73 points from the previous day. Despite massive sell-offs by foreign investors, retail investors and institutions backed the index, net buying 100.5 billion won ($74.1 million) and 221.9 billion won, respectively. Foreign investors sold off 378.9 billion won. The Kosdaq, Korea’s secondary bourse,

Oct. 27, 2023