South Korean stocks got off to a weak start on Monday due to losses in major exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) slipped 2.87 points, or 0.14 percent, to 1,978.31 in the first 15 minutes of trading.Automakers were trading in negative territory, with Hyundai Motor falling 1.17 percent and Kia Motors losing 0.56 percent.Market bellwether Samsung Electronics lost 0.33 percent.The local currency was trading at 1,080.65 won to the U.S. dollar as of 9:15 a.

Feb. 18, 2013

South Korean stocks closed 0.18 percent higher Thursday as a spate of negative factors began to fade, whetting investors' appetite for risk, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 3.54 points to finish at 1,977.42. Trading volume was moderate at 330.5 million shares worth 3.36 trillion won (US$3.09 billion) with gainers outstripping decliners 481 to 304. "North Korea's nuclear test had little impact, curren

Feb. 14, 2013

The Supreme Court on Thursday confirmed a suspended prison term for Rep. Roh Hoe-chan for violating the Communications Privacy Act, stripping the minor opposition party's co-chairman of his parliamentary seat.Roh of the Progressive Justice Party was found guilty of releasing a list in 2005 of seven former and sitting senior prosecutors who allegedly received bribes from Samsung Group, the country's biggest family-owned conglomerate.Roh made the list public through a press release and on his priv

Politics Feb. 14, 2013

South Korean stocks traded 0.13 percent higher late Thursday morning, buoyed by gains in steelmakers and tech shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.51 points to 1,978.58 as of 11:20 a.m.Leading steelmaker POSCO moved up 1.3 percent, with tech behemoth Samsung Electronics rising 0.07 percent. But telecom shares continued to trend downward from the previous session, with top mobile carrier SK Telecom dipping 1.7 percent. The local currency was changi

Feb. 14, 2013

South Korean stocks closed 1.56 percent higher on Wednesday as concern over a global currency row eased following a warning from major advanced economies against Japan's aggressive monetary easing, analysts said. The Korean won gathered ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) soared 30.28 points to finish at a three-week high of 1,976.07. Trading volume was moderate at 324.9 million shares worth 3.62 trillion won (US$3.33 billion) with gainers far o

Feb. 13, 2013

South Korean stocks traded 1.14 percent higher late Wednesday morning, fueled by gains in brokerage firms and steelmakers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 22.11 points to 1,967.90 as of 11:20 a.m.Major local brokerage firm Mirae Asset Securities spiked 4.5 percent and steelmaker Hyundai Steel soared nearly 3 percent. In contrast, telecom shares trended downward, with top mobile carrier SK Telecom falling 0.6 percent. The local currency was changing h

Feb. 13, 2013

South Korean stocks began higher Wednesday, tracking overnight gains on Wall Street, as investors were buoyed by encouraging remarks by U.S. President Barack Obama before his State of the Union address, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.58 points, or 0.29 percent, to 1,951.37 in the first 15 minutes of trading. Most shares trended upwards, with brokerage houses and insurance companies driving up the index. No. 2 brokerage firm KDB Daewoo Securities r

Feb. 13, 2013

VATICAN CITY (AFP) -- Pope Benedict XVI will bid his followers farewell in a final audience in St Peter's Square on Feb. 27, the day before he officially steps down, a Vatican spokesman said on Tuesday."The last general audience will be held in the square since a lot of people will come," Federico Lombardi said at a press briefing.Lombardi also said the pope's traditional Ash Wednesday mass on Feb. 13 would be his last major religious ceremony as pope together with other prelates.The mass, which

International Feb. 12, 2013

North Korea said its nuclear test Tuesday was only a "first" step and warned of stronger action if it was faced with tougher sanctions as a result."The latest nuclear test was only the first action, with which we exercised as much self-restraint as possible," the foreign ministry said in a statement carried by the country's official news agency."If the US further complicates the situation with continued hostility, we will be left with no choice but to take even stronger second or third rounds of

North Korea Feb. 12, 2013

South Korean stocks closed 0.26 percent lower Tuesday, driven by foreign-led program selling, with North Korea's nuclear test having little effect on the market, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 5.11 points to finish at 1,945.79. Trading volume was light at303.5 million shares worth 2.81 trillion won (US$2.56 billion) with losers outstripping gainers 465 to 311. “Foreigners went on a net selloff in

Feb. 12, 2013