The Korea Herald

Namhae Chem acquires MMT worth W18b from NH I&S

[DISCLOSURE] Namhae Chemistry (025860) said on Aug. 17 that it has acquired a money market trust worth 18 billion won (US$16.4 million) from its affiliate NH Investment & Securities (005940) to better manage operations and enhance profitability. The firm put 10 billion won in a fixed deposit account and 8 billion won in a money market deposit account. The maturity dates are Nov. 16 and Aug. 23, respectively.

Aug. 17, 2016

S. Korean shares begin low on Wall Street losses

[THE INVESTOR] Tracking overnight losses on Wall Street, stocks in South Korea opened the day low on Aug. 17.The benchmark KOSPI lost 0.38 points, or 0.02 percent, to drop to 2,047.38 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street.The Dow Jones industrial average lost 0.45 percent, with the tech-heavy NASDAQ declining 0.66 percent.Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics lost 0.32 percent.Top automaker Hyundai Mo

Aug. 17, 2016

Less foreign buys, weak Chinese markets see Seoul shares stumble

[THE INVESTOR] The South Korean market shed early gains on less foreign buying and poor-performing Chinese stocks, ending flat for the day. The Korean won, however, strengthened against the US dollar.The benchmark KOSPI fell 2.71 points, or 0.13 percent, to 2,047.76.The main index fell after marking a 1.61 percent increase for the whole of last week. On Aug. 12, it closed at 2,050.47 points, hitting fresh yearly highs.Kim Ye-eun, an analyst at LIG Investment & Securities, said the local stocks f

Aug. 16, 2016

Less foreign buys, weak Chinese markets see Seoul shares stumble

Shares shed initial gains in late morning

[THE INVESTOR] Stocks in Seoul slightly trimmed early morning gains later in the morning on Aug. 16 after responding to gains on Wall Street helped by positive US economic data and a rebound in global oil prices.The benchmark KOSPI rose 1.73 points, or 0.08 percent, to 2,052.20 as of 11:20 a.m. The main index continued to gain after marking a 1.61 percent increase for the whole of last week. On Aug. 12, it closed at 2,050.47 points, hitting fresh yearly highs.Investors will closely watch the min

Aug. 16, 2016

LG Chem pulls out of bidding for CSP

[DISCLOSURE] LG Chem (051910) announced on Aug. 16 that it has decided not to bid for US-based lightweight materials manufacturer Continental Structural Plastics.The firm participated in the preliminary bidding and submitted a letter of intent with co-bidder and affiliate LG Hausys (108670), but decided to pull out after final review, it explained.

Aug. 16, 2016

Seoul shares open higher on US gains

[THE INVESTOR] South Korean shares opened higher on Aug. 16, boosted by positive US economic data and a rebound in global oil prices. The benchmark KOSPI rose 9.12 points, or 0.44 percent, to 2,059.59 in the first 15 minutes of trading.The main index continued to gain after marking a 1.61 percent increase for the whole of last week. On Aug. 12, it closed at 2,050.47 points, hitting fresh yearly highs.(theinvestor@heraldcorp.com)

Aug. 16, 2016

Seoul shares extend gains for 7th consecutive day

[THE INVESTOR] South Korean stocks edged up on Aug. 12, extending their winning streak for the seventh consecutive session and hitting fresh yearly highs. The Korean won fell against the US dollar.The benchmark KOSPI rose 1.67 points, or 0.08 percent, to close at 2,050.47. Trade volume was moderate at 372 million shares worth 4.53 trillion won (US$4.10 billion), with gainers outnumbering losers 519 to 284.After starting slightly higher, the KOSPI stock index swung between gains and losses. Yoo S

Aug. 12, 2016

Seoul shares extend gains for 7th consecutive day

Seoul shares retreat from yearly highs, KOSPI hits 10-month high

[THE INVESTOR] South Korean shares traded lower late morning on Aug. 12, retreating from fresh yearly highs a day ago. The benchmark KOSPI hit a 10-month high of over 2,060 during early morning trading. The index shed 2.15 points, or 0.1 percent, to 2,046.65 as of 11:20 a.m.After starting slightly higher, the KOSPI stock index swung between gains and losses. China, South Korea’s No. 1 export destination, reported that its July factory output rose six percent on year, missing analysts’ expectatio

Aug. 12, 2016

LS disposes treasury stocks on subsidiary’s upcoming IPO

[DISCLOSURE] LS Cable & System (006260) announced on Aug. 11 that it has sold 8,445,487 treasury stocks worth 665.5 billion won (US$603.80 million) to prepare for the initial public offering of its subsidiary LS Cable & System Asia in September.

Aug. 12, 2016

Seoul shares start higher on Aug. 12

[THE INVESTOR] South Korean shares opened higher on Aug. 12, thanks to a rebound in global oil prices.The benchmark KOSPI rose 6.98 points, or 0.34 percent, to 2,055.78 in the first 15 minutes of trading.Most large caps traded mixed with Samsung Electronics gaining 0.32 percent. Chipmaker SK hynix declined 0.72 percent. Top automaker Hyundai Motor edged up 0.74 percent, and steelmaker POSCO rose 1.86 percent.Naver, the operator of the country’s leading internet portal, added 0.13 percent.The loc

Aug. 12, 2016

Seoul stocks hit fresh yearly highs

[THE INVESTOR] South Korean stocks rose slightly on Aug. 11 on the back of gains in tech stocks, extending its winning streak for a sixth consecutive session and hitting fresh yearly highs.The benchmark KOSPI rose 4.16 points, or 0.2 percent, to close at 2,048.80. Trade volume was moderate at 342 million shares worth 4.42 trillion won (US$4 billion), with losers outnumbering gainers 419 to 370.Trading was choppy. The market opened slightly lower and it swung between gains and losses. As expected

Aug. 11, 2016

Seoul shares down in late morning trading

[THE INVESTOR] South Korean shares traded lower late morning on Aug. 11 on foreign sell-offs. The benchmark KOSPI shed 5.52 points, or 0.27 percent, to 2,039.12 as of 11:20 a.m.As expected, the Bank of Korea kept its key interest rate unchanged at an all-time low of 1.25 percent earlier in the day, citing a need to assess the effect of previous rate cuts. Large caps traded mixed with market kingpin Samsung Electronics shedding 0.45 percent, and global chipmaker SK hynix up 0.15 percent.AmorePaci

Aug. 11, 2016

U&I adjusts contract terms with Chinese firm

[DISCLOSURE] U&I (056090) said on Aug. 11 that the terms of its supply contract with Shangdong Buchang Pharmaceutical regarding K-MET, a metallic bio-absorbable screw to fix bones, has been modified. The exclusive license fee has been changed to US$5 million and the annual fee to at least US$3 million. The license will be valid for 14 years and the total fee is expected to reach at least US$47 million.

Aug. 11, 2016

Seoul stocks open lower on Aug. 11

[THE INVESTOR] South Korean shares opened lower on Aug. 11, retreating from fresh yearly highs a day earlier. The benchmark KOSPI fell 5.42 points, or 0.27 percent, to 2,039.22 in the first 15 minutes of trading.The Bank of Korea is set to hold a rate-setting meeting, with many analysts expected the central bank to keep its key interest rate unchanged. Most large caps were in negative territory with market kingpin Samsung Electronics falling 0.19 percent. Major chipmaker SK hynix fell 0.59 perce

Aug. 11, 2016

Seoul stocks hit yearly highs on Aug. 10

[THE INVESTOR] South Korean stocks rose on Aug. 10, hitting fresh yearly highs on the back of foreign buying. The benchmark KOSPI rose 0.86 points, or 0.04 percent, to close at 2,044.64. Trade volume was moderate at 327 million shares worth 4.53 trillion won (US$4.10 billion), with gainers outnumbering losers 416 to 374.After rising to a nine-month high a day earlier, the KOSPI stock index started 0.04 percent lower and it swung between gains and losses.Market expectations for an interest rate h

Aug. 10, 2016

Seoul stocks hit yearly highs on Aug. 10

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