South Korean stocks advanced for the third consecutive session Friday amid hope that the US rate-hike cycle has come to an end. The local currency sharply rose against the greenback. The benchmark Korea Composite Stock Price Index shot up 25.22 points, or 1.08 percent, to close at 2,368.34. Trading volume was moderate at 567 million shares worth 7.86 trillion won ($5.94 billion), with gainers outnumbering losers 717 to 159. Foreigners dumped a net 134.8 billion won worth of local shares, and ind

South Korean stocks opened higher Friday tracking overnight gains on Wall Street amid expectations that the Federal Reserve's monetary tightening mode has passed. The benchmark Korea Composite Stock Price Index shot up 20.62 points, or 0.88 percent, to 2,363.74 in the first 15 minutes of trading. US stocks closed higher overnight, with the Dow Jones Industrial Average advancing 1.7 percent and the Nasdaq Composite rising 1.78 percent. The Fed has kept its benchmark lending rate steady at a

South Korean stocks got off to a strong start Wednesday, tracking overnight gains on Wall Street, as investors picked up tech bargains following a recent sharp fall awaiting the Federal Reserve's rate-setting decision. The benchmark Korea Composite Stock Price Index added 31.57 points, or 1.39 percent, to 2,309.56 in the first 15 minutes of trading. Overnight, US shares finished higher, with the Dow Jones Industrial Average rising 0.38 percent and the tech-heavy Nasdaq Composite going up 0.

South Korean stocks opened over 1.4 percent lower Thursday in a broad sell-off on heightened concerns after Wall Street slumped overnight. The benchmark Korea Composite Stock Price Index lost 33.92 points, or 1.44 percent, to 2,329.25 in the first 15 minutes of trading. In the US, the S&P 500 tumbled 1.43 percent and the tech-heavy Nasdaq Composite shot down 2.43 percent, posting its largest drop this year, on Google's parent Alphabet's disappointing cloud figures and a rise in Tre

South Korean stocks closed sharply lower Wednesday as battery shares plummeted amid forecasts that global demand for electric vehicles will slow down next year due to economic uncertainties. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index shed 20.34 points, or 0.85 percent, to close at 2,363.17. Trading volume was a little slim at 435 million shares worth 7.7 trillion won ($5.7 billion), with gainers outnumbering losers 613 to 267. Foreigners

Revenue increases 7.5 percent, operating profit up 40.1 percent year on year, primarily due to stable increase of production volume at GM JV (Ultium Cells) plant in Ohio, as well as product mix improvement The company to focus on reinforcing product competitiveness across all segments To proactively respond to customer demands, the Arizona battery facility to produce 46-Series cylindrical batteries instead of the originally planned 2170 cells SEOUL, South Korea, Oct. 25, 2023 /PRNewswi

South Korean chemical giant LG Chem said Wednesday that it has set up a new research and development center in the US state of Georgia called the North America Innovation Center, as part of its big push to secure global talent for its burgeoning next-generation materials business. The new plan was unveiled as part of its partnership with the Georgia Institute of Technology signed a day before. Under the agreement, the center will serve as an R&D base for diverse collaboration projects with n

South Korean stocks rose more than 1.1 percent Tuesday to end a three-day losing streak thanks to sharp gains in big-cap tech and bio shares. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 26.49 points, or 1.12 percent, to close at 2,383.51. Trading volume was a little slim at 437.5 million shares worth 7.8 trillion won ($5.8 billion), with gainers outnumbering losers 630 to 249. Foreigners dumped a net 154.3 billion won worth of loc

South Korean stocks tumbled nearly 2 percent lower Thursday as escalating concerns over the Israel-Hamas conflict stoked risk aversion. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 46.8 points, or 1.9 percent, to close at 2,415.8, marking the lowest level since Oct. 10, when Kospi finished at 2,402.58. Trading volume was moderate at 739.5 million shares worth 8.7 trillion won ($6.3 billion), with decliners sharply outnumbering gainers

South Korean stocks started a tad lower amid Washington's updated exports control on chip exports to China. The benchmark Korea Composite Stock Price Index dropped 6.74 points, or 0.27 percent, to 2,453.43 in the first 15 minutes of trading. On Wall Street, US stocks finished mixed on better-than-expected retail sales data and the US government's latest rules to increase its restrictions on the sale of semiconductors from American companies to China. The Dow Jones Industrial Average ro

Foreign investors have dumped South Korean stocks for 15 consecutive trading days, the longest streak logged since 2020, according to the bourse operator Sunday. Foreigners offloaded a net 2.5 trillion won ($1.8 billion) on the benchmark Korea Composite Stock Price Index from Sept. 18 to last Friday, according to the Korea Exchange. Previously, the longest sell-off streak in the Kospi market recorded by foreigners was 30 consecutive trading days from March 5 to April 16 in 2020. During the 15-da

South Korean stocks fell by almost 1 percent Friday, as investors moved to lock in profits from recent gains on concerns about high inflation and the Federal Reserve's tightening push. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index shed 23.67 points, or 0.95 percent, to close at 2,456.15, ending a two-day winning streak. Trading volume was a bit slim at 576.69 million shares worth 7.06 trillion won ($5.23 billion), with losers outpacin

LG Chem Ltd. and GS Caltex Corp. plan to produce a prototype of a material for biodegradable plastics next year, as they step up cooperation for the development of the eco-friendly raw material, the companies said Friday. LG Chem and GS Caltex signed an agreement in 2021 to develop technology for the production of the material called 3-Hydroxypropionic Acid (3HP). Plastic made from 3HP can be used to replace various disposable materials. In July of last year, they started construction on a plant

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as investors moved to lock in profits from recent sharp gains on quicker-than-expected US inflation and high bond yields. The benchmark Korea Composite Stock Price Index shed 14.41 points, or 0.58 percent, to 2,465.41 in the first 15 minutes of trading. Overnight, US shares finished lower after the consumer price index rose at a quicker than expected rate of 3.7 percent on-year in September, which raised speculati

LG Display and LG Chem, prominent display and chemical makers, respectively, boasted Monday of their joint success in producing p-type dopants in-house, a crucial material for producing organic light-emitting diode displays, the supply of which has been solely dependent on imports. This development aligns with LG Display's ongoing efforts to strengthen the domestic production ecosystem for more advanced OLED displays. Last year, the proportion of materials the company procured locally, both