Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
4
First snow to fall in Seoul on Wednesday
-
5
Man convicted after binge eating to avoid military service
-
6
S. Korea not to attend Sado mine memorial: foreign ministry
-
7
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
8
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
9
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
10
Nvidia CEO signals Samsung’s imminent shipment of AI chips
Chinese stimulus offsets Greek concerns on Korean bourses
By Kim Yon-sePublished : April 20, 2015 - 19:23
South Korea’s financial market weathered the possibly negative effects from Greece’s woes, as China’s policy to boost its economy offset the worries and non-European investors maintained their “buy and hold” position on Monday.
The benchmark KOSPI and the secondary KOSDAQ inched up 0.15 percent and 0.01 percent to close at 2,146.71 and 706.96 points, respectively. The U.S. dollar dipped below the 1,080-won mark.
Foreign investors on the main Korean bourse seemingly downplayed the feasibility of a moratorium era in debt-saddled Greece. They have net-purchased local stocks worth 284 billion won ($262 million) on the KOSPI, posting a net buying for the 10th consecutive trading session, since April 7.
Though the KOSPI was weak early in the session in the wake of the growing concerns, it recovered momentum on the back of foreigners’ continuous net buying.
While small investors joined the move by buying stocks worth 29.1 billion won, local institutional investors sold stocks worth 312 billion won. The main bourse rose for the seventh trading session from April 10, when it gained 28.89 points to close at 2,087.76.
Hyundai Securities, in its report, said “European Union finance ministers are stressing that Greece’s possible withdrawal from the eurozone would have minimal impact on the overall EU economy.”
Investors appear to have bet on stronger currencies of emerging economies and weaker U.S. dollar, which is being linked to their expanded presence in Korean and other Asian markets, the brokerage firm said.
Hi Investment & Securities cited the proportion of foreign investors by nationality. “Funds from countries including the U.S. and Japan are initiating the bullish market in Korea while the portion of European funds are not high.”
Hi Investment clarified the present situation is quite different from during 2011 and 2012, when Europeans funds dumped Korean shares.
“The environment with China’s stimulus package that included lowering the reserve requirement ratio (over the weekend) may be favorable to risky assets. Funds flowing into Korea and China have usually recorded a coupling.”
On Monday, the U.S. dollar slid 4.5 won against the Korean won to close at 1,079.2 won. The dollar fell versus the won for the third consecutive trading session.
By Kim Yon-se (kys@heraldcorp.com)
The benchmark KOSPI and the secondary KOSDAQ inched up 0.15 percent and 0.01 percent to close at 2,146.71 and 706.96 points, respectively. The U.S. dollar dipped below the 1,080-won mark.
Foreign investors on the main Korean bourse seemingly downplayed the feasibility of a moratorium era in debt-saddled Greece. They have net-purchased local stocks worth 284 billion won ($262 million) on the KOSPI, posting a net buying for the 10th consecutive trading session, since April 7.
Though the KOSPI was weak early in the session in the wake of the growing concerns, it recovered momentum on the back of foreigners’ continuous net buying.
While small investors joined the move by buying stocks worth 29.1 billion won, local institutional investors sold stocks worth 312 billion won. The main bourse rose for the seventh trading session from April 10, when it gained 28.89 points to close at 2,087.76.
Hyundai Securities, in its report, said “European Union finance ministers are stressing that Greece’s possible withdrawal from the eurozone would have minimal impact on the overall EU economy.”
Investors appear to have bet on stronger currencies of emerging economies and weaker U.S. dollar, which is being linked to their expanded presence in Korean and other Asian markets, the brokerage firm said.
Hi Investment & Securities cited the proportion of foreign investors by nationality. “Funds from countries including the U.S. and Japan are initiating the bullish market in Korea while the portion of European funds are not high.”
Hi Investment clarified the present situation is quite different from during 2011 and 2012, when Europeans funds dumped Korean shares.
“The environment with China’s stimulus package that included lowering the reserve requirement ratio (over the weekend) may be favorable to risky assets. Funds flowing into Korea and China have usually recorded a coupling.”
On Monday, the U.S. dollar slid 4.5 won against the Korean won to close at 1,079.2 won. The dollar fell versus the won for the third consecutive trading session.
By Kim Yon-se (kys@heraldcorp.com)
![[More than APT] Residents, architects together design homes](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/11/24/20241124050036_0.jpg&u=)
