South Korean stocks fell 0.81 percent Thursday as investors took profits from a two-day rally in the previous sessions, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 16.34 points to finish at 2,004.40. Trading volume was moderate at 382.2 million shares worth 3.63 trillion won (US$3.35billion) with decliners far outstripping gainers 511 to 287.   "Foreigners opted to unload their holdings in top-cap Samsun

March 7, 2013

The U.N. Security Council is set to add three North Korean weapons dealers and two entities to its new resolution to punish the North for conducting its third nuclear test last month, according to a copy of a draft resolution obtained by Yonhap News Agency on Thursday. The three North Korean arms dealers are: Yon Chong-nam, the chief representative for the Korea Mining Developing Trading Corp (KOMID); Ko Chol-chae, the deputy chief representative for the KOMID; and Mun Chong-chol, an official at

National March 7, 2013

South Korean stocks traded 0.79 percent lower late Thursday morning on widening losses in shares of tech companies and shipbuilders, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) slid15.92 percent to 2,004.82 as of 11:20 a.m. STX Offshore & Shipbuilding, the country's fourth-largest shipyard, slumped more than 3 percent, with Hyundai Mipo Dockyard, an affiliate of the world's No. 1 shipbuilder Hyundai Heavy Industries, dipping 1.7 percent. Top-cap Samsung Electronics als

March 7, 2013

South Korean stocks got off to a weak start Thursday, erasing a two-day rally in the previous sessions, as blue-chip tech firms lost ground, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell5.61 points, or 0.28 percent, to 2,015.13 in the first 15 minutes of trading. Market behemoth Samsung Electronics shed nearly 1 percent, with its smaller rival LG Electronics declining 0.4 percent. State-run electricity provider Korea Electric Power also dipped 0.6 percent. The local

March 7, 2013

South Korean stocks rose 0.2 percent on Wednesday, tracking an overnight rally in U.S. markets spurred by heightening anticipation over an economic recovery, analysts said. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added4.13 points to finish at 2,020.74. Trading volume was moderate at391.4 million shares worth 4.03 trillion won (US$3.71 billion) with advancers outpacing decliners 414 to 381. "Despite the U.S. rally, the local bours

March 6, 2013

South Korean stocks traded 0.26 percent higher late Wednesday morning, led by gains in financial firms and shipbuilders, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 5.20 points to 2,021.81 as of 11:20 a.m.No. 2 lender KB Financial Group rose 1.8 percent, with Hyundai Heavy Industries, the world's largest shipyard, jumping more than 3 percent. In contrast, auto-related shares trended lower. Kia Motors, a Hyundai Motor affiliate, slid 2 percent, with Hyundai's auto

March 6, 2013

South Korean stocks started off sharply higher Wednesday on an overnight Wall Street rally fueled by heightening anticipations of economic recovery, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) soared15.84 points, or 0.79 percent to 2,032.45 in the first 15 minutes of trading. Shares moved upward across the board, with tech blue-chips and brokerage houses fueling the main index. Top-cap tech giant Samsung Electronics rose 1.23 percent and leading brokerage firm KDB Daew

March 6, 2013

South Korean stocks traded 0.54 percent higher late Tuesday morning, led by gains in large-cap tech and utility firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 10.93 points to 2,024.08 as of 11:20 a.m.Chipmaker SK hynix surged 3.5 percent, with state-run electricity provider Korea Electric Power Corp. jumping 2.2 percent. In contrast, steelmakers and oil refiners lapsed into negative territory, with No. 1 player POSCO sliding 0.7 percent and leading oil ref

March 5, 2013

South Korean stocks got off to a strong start Tuesday, cheered by remarks from a U.S. Federal Reserve official supporting the bond-buying program amid speculations the Fed may put an end to it, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained12.22 points, or 0.61 percent to 2,025.37 in the first 15 minutes of trading. Most shares trended upward, with large-cap exporters fueling the main index. Market behemoth Samsung Electronics rose 1.2 percent, with No. 1 carmaker

March 5, 2013

South Korean stocks closed 0.66 percent lower Monday, led by institutional profit-taking, while investors remained relatively calm toward the U.S. spending cuts, analysts said. The local currency fell sharply against the U.S.dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 13.34 points to finish at 2,028.55. Trading volume was moderate at 352.4 million shares worth 4.28 trillion won (US$3.95 billion) with losers outstripping gainers 482 to 310. "Investors shrugged off th

March 4, 2013

South Korean stocks traded 0.24 percent lower late Monday morning, led by losses in steelmakers and chemical companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.92 points to 2,021.57 as of 11:20 a.m. Leading steelmaker POSCO sank nearly 3 percent, with smaller player Hyundai Steel also dropping 2.4 percent. Chemical issues trended downward, with LG Chem dipping more than 2 percent. In contrast, autos gathered ground. Hyundai Motor was up 1.2 percent and Ssang

March 4, 2013

South Korean stocks turned lower after a strong start, as investors remained concerned over the automatic spending cuts in the United States, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) slipped1.47 points, or 0.07 percent to trade at 2,025.02 in the first 15 minutes of trading. Steelmakers and shipping lines lost ground, with No. 1 player POSCO falling 1.7 percent and logistics company Hyundai Glovis retreating 1.6 percent. Top-cap Samsung Electronics, however, gained

March 4, 2013

South Korean stocks closed 1.12 percent higher on Thursday, spurred by the U.S. Fed's confirmation of its plan to maintain stimulus measures, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) surged22.45 points to 2,026.49. Trading volume was moderate at 414.3 million shares worth 4.09 trillion won (US$3.77 billion) with gainers outpacing losers 565 to 235."The anticipated automatic spending cuts by the United States had only

Feb. 28, 2013