Seoul shares jump over 1% on tech gains, foreign buying

South Korean shares closed sharply higher Monday, helped by strong advances in tech and financial shares. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 26.38 points, or 1.02 percent, to close at 2,623.29. Trading volume was moderate at 391 million shares worth 8.3 trillion won ($6.12 billion), with gainers outnumbering losers 488 to 395. Foreigners net bought 77.6 billion won worth of shares while retail investors dumped 440

Oct. 14, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened slightly higher Monday, taking a cue from Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) added 15.92 points, or 0.61 percent, to 2,612.83 in the first 15 minutes of trading. The rise follows gains on Wall Street last week. The Dow Jones Industrial Average closed 0.97 percent higher Friday (US time), with the tech-heavy Nasdaq advancing 0.33 percent. In Seoul, large caps traded mixed. Market kingpin and tech giant Samsung Electronics advanced

Oct. 14, 2024

Samsung Electronics sheds W90tr in market cap amid foreigners' selloff

Samsung Electronics, South Korea’s largest chipmaker, has seen its market cap shrink by a staggering 90 trillion won ($66.6 billion) since September, largely driven by a sustained selling spree among foreign investors. According to the Korea Exchange on Sunday, foreigners have net sold 10.6 trillion won in Samsung Electronics shares over the past month, marking 23 consecutive days of selling since Sept. 3 -- just two days shy of the record 25-day selling streak set in 2022. During this per

Oct. 13, 2024

Seoul shares open higher ahead of BOK rate decision

South Korean stocks opened higher Friday as the country's central bank was set to hold a rate-setting meeting later in the day. The benchmark Korea Composite Stock Price Index rose 0.68 percent, or 17.55 points, to 2,616.71 in the first 15 minutes of trading. Investors' eyes are on the results of the Bank of Korea's monetary policy meeting to be held later in the day, where it is widely expected to start its rate-cutting cycle. Overnight, Wall Street lost ground amid mixed bets on

Oct. 11, 2024

Seoul shares end tad higher on Wall Street gains

Seoul stocks finished marginally higher Thursday on overnight US stock gains amid a decline in international oil prices. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index edged up 0.19 percent, or 4.8 points, to 2,599.16. Trading volume was heavy at 603 million shares worth 13.48 trillion won ($9.99 billion), with gainers outpacing losers at 442 to 423. Institutions sold a net 299.6 billion won, while foreign and retail investors together bought a net

Oct. 10, 2024

Will K bank make W5tr jackpot debut?

Korea's first internet-only bank, K bank, is preparing for its upcoming initial public offering, with demand forecasting kicking off Thursday. According to its securities registration filing, K bank started a weeklong demand forecast from institutional investors on Thursday. This process allows investors to submit their desired purchase quantities and prices before the public offering, guiding the company in determining the final offering price. K bank's target price range is set betwe

Oct. 10, 2024

Bond sales rise on corporate bond issues in Sept.

Bond sales in South Korea rose sharply from a month earlier in September helped by an increase in corporate bond issues, data showed Thursday. The value of bonds sold last month came to 77.1 trillion won ($57.1 billion), up 7.4 trillion won from 69.7 trillion won sold in August, according to the data from the Korea Financial Investment Association. The value of outstanding bonds, on the other hand, dropped 10.3 trillion won to 2,802.6 trillion won over the cited period, due to a sharp decline in

Oct. 10, 2024

Seoul shares open higher on Wall Street gains

Seoul stocks opened higher Thursday thanks to overnight US stocks gains led by a decline in international oil prices and a rise in local tech stocks. The benchmark Korea Composite Stock Price Index rose 0.46 percent, or 11.90 points, to 2,606.26 in the first 15 minutes of trading. Overnight, US stocks extended their gains thanks to a decline in global oil prices and gains in tech stocks. The Dow Jones Industrial Average rose 1.03 percent, the S&P 500 gained 0.71 percent, and the tech-heavy N

Oct. 10, 2024

Seoul shares end lower on weak earnings by Samsung, US losses

Seoul stocks finished lower Tuesday due to weaker-than-expected earnings results by Samsung Electronics and overnight US stock losses. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 0.61 percent, or 16.02 points, to 2,594.36. Trading volume was moderate at 313 million shares worth 8.98 trillion won ($6.65 billion), with losers outpacing gainers at 569 to 305. Institutions and foreign investors together sold a net 72 billion won, while retai

Oct. 8, 2024

Seoul shares open lower over weak Samsung earnings, US losses

Seoul stocks opened lower Tuesday following weaker-than-expected tentative earnings results from Samsung Electronics and overnight US stock losses. The benchmark Korea Composite Stock Price Index dropped 0.55 percent, or 14.28 points, to 2,596.10 in the first 15 minutes of trading. Ahead of the trading session, Samsung Electronics estimated its third-quarter operating profit to reach 9.1 trillion won, apparently failing to meet market expectations due to the lukewarm performance of its flagship

Oct. 8, 2024

Seoul shares rise over 1.5 % on US jobs data; won sharply down

Seoul stocks finished over 1.5 percent higher Monday, bolstered by US employment data, and modest gains in chip and battery shares. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index moved up 1.58 percent, or 40.67 points, to 2,610.38. Trading volume was moderate at 336 million shares worth 10.2 trillion won ($7.57 billion), with gainers outpacing losers at 618 to 259. Institutions and foreign investors together bought a net 98 billion won, whi

Oct. 7, 2024

Seoul shares open higher on battery, auto gains

Seoul stocks opened higher Monday led by gains among battery and automotive shares. The benchmark Korea Composite Stock Price Index rose 0.21 percent, or 5.33 points, to 2,575.04 in the first 15 minutes of trading. Battery manufacturers and automakers led the overall gains, with leading battery maker LG Energy Solution jumping 2.85 percent and top automaker Hyundai Motor adding 1.46 percent. Financial firms also gained traction, with KB Financial rising 1.57 percent and Shinhan Financial up 0.55

Oct. 7, 2024

Daily stock trading volume dips to lowest in Sept. amid sluggish conditions

The daily stock trading volume fell to the lowest of the year last month as worsening market conditions spooked investors, data showed Saturday. The average daily trading volume of listed shares came to 16.67 trillion won ($12.36 billion) in September, the lowest since the start of the year, according to the data from the Korea Exchange, operator of South Korea's main bourse. The reading also marks an 8 percent decline from 18.2 trillion won the previous month. The figure has been a steady

Oct. 5, 2024

Seoul shares rebound on bargain hunting; won sharply down

Seoul shares closed slightly higher Friday, snapping three consecutive sessions of losses, as investors hunted bargains despite the escalating tensions in the Middle East. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index moved up 0.31 percent, or 8.02 points, to 2,569.71. Trading volume was moderate at 405 million shares worth 9.63 trillion won ($7.2 billion), with gainers outpacing losers at 462 to 412. Foreigners bought a net 41 billion won

Oct. 4, 2024

Main opposition leadership to decide on postponement of financial income tax

The main opposition Democratic Party of Korea on Friday decided to let its leadership make the final decision on whether to postpone the adoption of the financial investment income tax, which is set to take effect on Jan. 1. The decision made during a general meeting of party lawmakers in the morning, comes as the ruling People Power Party has been calling for the Democratic Party, which currently holds the majority of seats in the 300-member Assembly, to agree on the abolition or a postponement

Oct. 4, 2024

Seoul shares open nearly flat amid geopolitical uncertainties

Seoul stocks opened nearly flat Friday, as investors sat on the sidelines amid the escalating geopolitical tensions in the Middle East. The benchmark Korea Composite Stock Price Index fell 0.02 percent, or 0.48 point, to 2,561.21 in the first 15 minutes of trading. Overnight, US shares lost ground amid the growing conflict between Israel and Iran, with the Dow Jones Industrial Average losing 0.44 percent and the tech-heavy Nasdaq composite falling 0.04 percent. International benchmark Brent crud

Oct. 4, 2024

Kospi slump hits retail investors hard in Q3, but foreign investors gain

Local retail investors experienced significant losses from Korean shares in the third quarter while foreign investors fared relatively well amid the Kospi’s bearish trend in the period, market data showed on Thursday. According to the Korea Exchange, the most purchased stock by South Korean retail investors from July to September was Samsung Electronics, the world’s largest memory chipmaker, with net purchases totaling 7.82 trillion won ($5.9 billion). Following Samsung, SK hynix, th

Oct. 3, 2024

Seoul shares dip for 3rd day amid Middle East tensions

Seoul shares closed lower for the third consecutive day Wednesday as investors sat on the sidelines amid the escalating tension in the Middle East following Iran's massive missile attack against Israel. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 1.22 percent, or 31.58 points, to 2,561.69. Trading volume was moderate at 341.9 million shares worth 9.38 trillion won ($7.1 billion), with losers far outnumbering winners at 705 to 177. F

Oct. 2, 2024

Seoul shares open lower amid escalating Middle East tensions

Seoul shares opened lower Wednesday tracking overnight losses on Wall Street amid growing concerns over an all-out war in the Middle East after Iran attacked Israel with missiles. The benchmark Korea Composite Stock Price Index fell 0.89 percent, or 23.04 points, to 2,570.23 in the first 15 minutes of trading. Overnight, US shares tumbled after Iran fired missiles directly at Israel, with the Dow Jones Industrial Average losing 0.41 percent and the tech-heavy Nasdaq composite plunging 1.53 perce

Oct. 2, 2024

Seoul shares dip over 2% ahead of US economic data; won at 9-month high

Seoul shares fell by more than 2 percent Monday as investors remained on the sidelines ahead of the releases of key economic data in the United States later this week. The local currency ended at a 9-month high against the US dollar. The benchmark Korea Composite Stock Price Index dropped 2.13 percent, or 56.51 points, to 2,593.27. Trading volume was moderate at 352.4 million shares worth 10.5 trillion won ($8.03 billion), with losers outnumbering winners 708 to 181. Institutions and foreign inv

Sept. 30, 2024