Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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S. Korea to actively deal with herd behavior in financial market: official
South Korea plans to actively tackle herd behavior in the financial market as market volatility has increased amid monetary tightening drives at home and abroad, a senior government official said Thursday. The government plans to step up its monitoring of the market, as the country's financial market has "sensitively" reacted to concerns about high inflation and global recession fears, according to First Vice Finance Minister Bang Ki-sun. "The government plans to actively deal wit
July 14, 2022
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Seoul shares open lower on Wall Street losses
South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street amid concerns about fast-growing inflation. The benchmark Korea Composite Stock Price Index fell 7.77 points, or 0.33 percent, to trade at 2,320.84 in the first 15 minutes of trading. Overnight, US stocks dropped as the estimate-beating consumer price index for June fanned worries that the Federal Reserve can accelerate its rate hike moves. The Dow Jones Industrial Average declined 0.67 percent, and the tech-heav
July 14, 2022
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[Market Eye] Short selling ban back in focus as stocks slide
South Korea’s top financial policymaker on Monday hinted at banning short selling again to prevent a jumpy stock market, but some market analysts say the plan should be reexamined since its effect on long-term market stability is still debatable. The ban -- which was temporarily put on the benchmark Kospi and junior Kosdaq in March 2020 over pandemic-induced volatility -- was partially lifted in May 2021, when the bearish investment practice was allowed on the Kospi 200 and the Kosdaq 15
July 13, 2022
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Seoul shares rebound on eased rate hike uncertainties
South Korean stocks rebounded Wednesday on eased uncertainties about the central bank's rate decision. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.85 points, or 0.47 percent, to close at 2,328.61 points. Trading volume was relatively small at about 303 million shares worth some 5.9 trillion won (US$4.5 billion), with gainers outnumbering losers 550 to 298. Institutions bought a net 357 billion won, while foreigners sold 101 bil
July 13, 2022
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Seoul shares open higher ahead of BOK's rate decision
South Korean stocks opened higher Wednesday ahead of the central bank's rate decision. The benchmark Korea Composite Stock Price Index rose 7.88 points, or 0.34 percent, to trade at 2,325.64 in the first 15 minutes of trading. The key stock index rebounded after a two-day loss since Monday, despite an overnight US stock fall. The Bank of Korea (BOK) will announce the results of its monetary policy meeting later in the morning. Investors are wondering if the BOK will take a "big step&qu
July 13, 2022
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Seoul shares down for 2nd day on earnings, virus concerns
South Korean stocks retreated for a second straight session Tuesday, weighed by concerns about corporate earnings and a surge in new coronavirus outbreaks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) decreased 22.51 points, or 0.96 percent, to close at 2,317.76 points. Trading volume was relatively small at about 374 million shares worth some 6.3 trillion won ($4.8 billion), with losers outnumbering gainers 772 to 129. Institutions sold a ne
July 12, 2022
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New FSC chief vows to stabilize markets, ease rules
Kim Joo-hyun, the new chief of the Financial Services Commission, said Monday that he would use all resources and cooperate with authorities for market stability at his inauguration, which took place after a divided National Assembly failed to hold a confirmation hearing. Kim underscored mounting concerns that aggressive rate hikes by the US Federal Reserve would further dampen investor optimism here. “Rapid inflation is eating into the economy. Economic and political factors,
July 11, 2022
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Seoul stocks snap 2-day winning streak on recession, corporate earnings woes
South Korean shares snapped a two-day winning streak Monday as investors took to the sidelines amid woes about a recession and possibly lackluster corporate earnings. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 10.34 points, or 0.44 percent, to close at 2,340.27 points. Trading volume was relatively small at about 369 million shares worth some 6.1 trillion won ($4.7 billion), with losers outnumbering gainers 569 to 295. Institution
July 11, 2022
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Bond sales in S. Korea fall in June amid high interest rates
Bond issuance in South Korea dipped in June from the previous month amid increasing interest rates at home and abroad, industry data showed Monday. The value of bonds sold in Asia's fourth-largest economy came to 71.4 trillion won ($54.9 billion) last month, down 4.4 trillion won from a month earlier, according to the data from the Korea Financial Investment Association. Sales of corporate bonds were similar to the previous month's level, but those of state, special and financial bonds
July 11, 2022
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Seoul stocks open slightly higher on tech, auto gains
South Korean shares opened a tad higher Monday, buoyed by strong advances in tech and auto heavyweights. The benchmark Korea Composite Stock Price Index (KOSPI) had added 4.92 points, or 0.21 percent, to trade at 2,355.53 points as of 9:15 a.m. KOSPI's top cap Samsung Electronics moved up 1.02 percent, and No. 2 chipmaker SK hynix increased 0.53 percent. The country's largest automaker Hyundai Motor advanced 1.69 percent, with its smaller affiliate Kia jumping 3.52 percent. The local c
July 11, 2022
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Korea Exchange denies Kyobo Life's IPO application
The Korea Exchange (KRX) on Friday disapproved an initial public offering by Kyobo Life Insurance Co., citing discord among major shareholders. After reviewing the insurer‘s second application filed in December, the bourse operator declined to approve its IPO before its management is stabilized. Kyobo Life had been seeking to complete an IPO within the first half of this year to diversify its funding sources in preparation for the introduction of a new accounting rule for insuranc
July 8, 2022
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KRX to unveil rules for corporate sustainability disclosures
Korea Exchange CEO Sohn Byung-doo said Thursday that the bourse operator will set out guidelines on the way listed companies should report their progress on environmental, social and governance issues. The sustainability disclosures become mandatory as early as 2025. “The ESG initiative is one of the four goals we plan to see take place. We will refer to the global guidelines,” Sohn said at a forum, held to discuss the ways Korean companies can better navigate the low-carbon transit
July 8, 2022
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Seoul shares rebound nearly 2% on eased recession woes; Korean won gains ground
South Korean stocks bounced back Thursday from the previous day's 20-month low as the US Federal Reserve's minutes indicated cautious optimism over the economy's long-term prospects, despite impeding rate hikes. The Korean won gained ground against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 42.26 points, or 1.84 percent, to close at 2,334.27. Trading volume was moderate at 333 million shares worth 7.54 trillion won ($5.89 billion) with gainers outstripping d
July 7, 2022
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Seoul shares open higher after Fed minutes; Korean won losing ground
South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street as the US Federal Reserve's latest minutes reaffirming its intent to rein in inflation through big rate hikes removed uncertainty for investors. The Korea Composite Stock Price Index (KOSPI) rose 23.04 points, or 1.01 percent, to 2,315.05 in the first 15 minutes of trading. The Fed minutes of its June policy meeting, released Wednesday (US time), showed that the Fed needs to raise the interest rate by anothe
July 7, 2022
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Seoul stocks dip to 20-month low on recession fears; Korean won at 13 yr low
South Korean stocks dipped to a 20-month low Wednesday, as bleak data from Europe and a sharp fall in oil prices underscore worries over a global economic recession. The Korean won fell sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) retreated 49.77 points, or 2.13 percent, to close at 2,292.01, coming below the 2,300 mark for the first time since Oct. 30, 2020. Trading volume was moderate at 400.3 million shares worth 8.53 trillion won ($6.53 billion) with decliners
July 6, 2022
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Seoul shares open lower on recession fears; Korean won sharply down
South Korean stocks got off to a weak start Wednesday, as downbeat data from Europe, coupled with an energy crisis amid Russia's war in Ukraine, amplified fears over a global economic downturn. The Korea Composite Stock Price Index (KOSPI) retreated 27.89 points, or 1.19 percent, to 2,313.89 in the first 15 minutes of trading. The steep decline in euro, Germany's trade deficit in more than three decades, and a drop in oil prices fueled concerns over a global recession, sending the main
July 6, 2022
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Seoul shares snap 4-day losing streak on dip buying ahead of earnings season
South Korean stocks bounced back Tuesday, snapping a four-day losing streak, as investors scooped up oversold stocks ahead of the quarterly earnings season. The local currency fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) closed up 41.44 points, or 1.8 percent, to 2,341.78. The KOSPI slid to a 20-month low Monday. Trading volume was light at 315.7 million shares worth 6.74 trillion won (US$5.18 billion), with advancing stocks far outpacing declining ones 802 to 92. &q
July 5, 2022
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Seoul shares open higher on dip buying
South Korean stocks got off to a strong start Tuesday after the key index hit a 20-month low the previous session amid global recession woes. The Korea Composite Stock Price Index (KOSPI) rose 18.62 points, or 0.81 percent, to 2,318.96 in the first 15 minutes of trading. Large-cap stocks gathered ground across the board, with market behemoth Samsung Electronics rising 0.7 percent and chip giant SK hynix jumping nearly 3 percent. Internet portal provider Naver also soared 3.8 percent, and major c
July 5, 2022
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Seoul shares down for 4th day to hit fresh 20-month low amid recession woes
South Korean stocks dipped for a fourth consecutive day to hit a fresh 20-month low Monday as investors worry the US Federal Reserve's move to curb inflation may trigger a deeper-than-expected economic recession. The local currency inched up against the US dollar. After choppy trading, the Korea Composite Stock Price Index (KOSPI) fell 5.08 points, or 0.22 percent, to close at 2,300.34, the lowest since 2,300.16 on Nov. 2, 2020. The index dipped to an intraday low of 2,276.63 points. Tradin
July 4, 2022
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Kospi tumbles to new low for the year
South Korea’s key stock index plummeted to a fresh low for the year in morning trade on Monday as recession fears grew ahead of the Bank of Korea’s rate-setting meeting scheduled next week. The benchmark Kospi opened 0.23 percent higher from the previous closing at 2,310.73, but soon fell below the 2,300-mark to hit a new low of 2,288.92 in morning trade. Kospi has plummeted some 22 percent since end-2021 -- when the index stood at 2,977.65 – as of end-June, weighed down by
July 4, 2022