Most Popular
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President Yoon Suk Yeol defiant as impeachment momentum grows
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NewJeans manager files workplace harassment complaint against Ador CEO Kim Ju-young
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Joint investigation team on Yoon launched
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Ruling party leader says impeachment against Yoon now only solution
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[Newsmaker] Ex-intel commander appears key to alleged martial law plan
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"Denture-tube:" South Korea's YouTube conspiracy machine
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What if martial law had not been aborted?
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Two scenarios for Korea's economic outlook
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'Literature stands in opposition to all acts that destroy life': Han Kang
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Prime Minister Han Duck-soo regrets failing to stop martial law
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[Herald Interview] Why Korean investors can benefit from US equity exposure
With the US stock market representing more than half of the world’s total equity market capitalization, adopting a US perspective for investment decisions can be helpful for Korean investors, Hamish Preston, head of US Equity Indices at S&P Dow Jones Indices, said in a recent interview held online with The Korea Herald. Over the years, Korean investors have been showing an increased appetite in US-listed stocks. Their holdings of US equity stood at $88.23 billion in end-July, displayin
Aug. 12, 2024
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FSC chief stresses need to enhance corporate values for strong economy
The chief of the financial regulator called on local companies to actively join the government-initiated corporate value-up program Monday, stressing the need to build a stock market that is "stronger" and can "recuperate faster." Kim Byoung-hwan, head of the Financial Services Commission, made the call in a meeting with the heads of eight local businesses that have made public disclosures about their corporate value-up efforts or promised to do so in the near future. "I
Aug. 12, 2024
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Seoul shares open higher on eased US recession woes
South Korean stocks opened higher Monday on eased woes over a US recession after last week's rout. The benchmark Korea Composite Stock Price Index added 26.81 points, or 1.04 percent, to 2,615.24 in the first 15 minutes of trading. Major US indexes finished higher Friday following a rout as recession woes diminished thanks to better-than-expected unemployment data. Investors' eyes are now on the US consumer price, producer price and retail sales data due out later this week. In Seoul,
Aug. 12, 2024
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Seoul shares end over 1% higher on calmed recession woes
South Korean stocks finished more than 1 percent higher Friday as investor sentiment was boosted by better-than-expected recent US jobless data, soothing recent recession fears that had rocked global financial markets. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 31.7 points, or 1.24 percent, to close at 2,588.43. Trade volume was moderate at 464.3 million shares worth 9.5 trillion won ($6.96 billion), with gainers largely outnumbering de
Aug. 9, 2024
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Seoul shares open higher on eased recession woes
South Korean stocks got off to a strong start Friday tracking overnight gains on Wall Street on eased recession woes. The benchmark Korea Composite Stock Price Index added 36.85 points, or 1.44 percent, to 2,593.58 in the first 15 minutes of trading. In the United States, stock indices finished higher as better-than-expected unemployment data buoyed investor sentiment. The Dow Jones Industrial Average rose 1.76 percent and the tech-heavy Nasdaq Composite jumped 2.87 percent. In Seoul, most share
Aug. 9, 2024
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Seoul shares end two-day rise after global sell-off
South Korean stocks ended a two-day rebound after the global crash as investor sentiment was dampened by lingering US recession woes and the sluggish performance of big tech firms. The local currency slightly fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 11.68 points, or 0.45 percent, to close at 2,556.73. Trade volume was moderate at 477.7 million shares worth 11.2 trillion won ($8.1 billion), with losers closely beating winners 464 to 423. Foreigners and i
Aug. 8, 2024
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W630b Korean trades canceled amid huge global sell-off
Approximately 630 billion won ($457.3 million) in trades by South Korean investors were canceled following a recent suspension in after-hours trading in the US largely due to a surge in order volume, Korean authorities said Thursday. According to the Financial Supervisory Service, the cancellations affected around 90,000 accounts at 19 local securities firms that offer daytime trading of US stocks to Korean investors. On Monday afternoon Korean time, US overnight trading platform Blue Ocean ATS
Aug. 8, 2024
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Seoul shares open lower on lingering US recession woes
South Korean stocks started lower Thursday amid lingering fears about a US recession. The benchmark Korea Composite Stock Price Index lost 28.7 points, or 1.12 percent, to 2,539.71 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.6 percent and the Nasdaq Composite dropped 1.05 percent as investors were still worried about a possible US recession and the sluggish performance of big tech companies. The Kospi has risen for two straight sessions after plunging n
Aug. 8, 2024
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Seoul shares rebound for 2nd day on tech gains after global rout
Seoul shares ended higher for a second straight session Wednesday, helped by tech gains, as investors' sentiment for risky assets improved following a global stock rout. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 46.26 points, or 1.8 percent, to close at 2,568.41. Trade volume was moderate at 469.69 million shares worth 12.9 trillion won ($9.4 billion), with winners exceeding losers 727 to 176. The rebound comes in line with gains
Aug. 7, 2024
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Seoul shares open higher on US gains, but jitters linger
Seoul shares opened higher Wednesday, tracking gains on Wall Street, two days after their worst rout over fears of a US recession. However, some analysts said worries about market turmoil linger. The benchmark Korea Composite Stock Price Index (Kospi) rose 12.17 points, or 0.48 percent, to 2,534.32 in the first 15 minutes of trading. The Kospi ended 3.3 percent higher Tuesday after plunging nearly 9 percent Monday due to massive selloffs amid concerns over a recession in the United States. Overn
Aug. 7, 2024
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Seoul shares sharply rebound from worst rout
South Korean stocks rose more than 3 percent Tuesday, rebounding from the previous day's worst market sell-off, sparked by fears over a US recession and the sluggish performance of big tech firms. The local currency slightly fell against the US greenback. The benchmark Korea Composite Stock Price Index gained 80.6 points, or 3.3 percent, to close at 2,522.15. It marked a turnaround from a whopping 8.77 percent crash Monday as investor sentiment was undermined by fears that the US economy is
Aug. 6, 2024
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Seoul shares remain volatile after market meltdown
The South Korean stock market partially rebounded Tuesday following the previous day's massive rout, as bargain-hunting investors sought to profit. The benchmark Kospi closed at 2,522.15, up 80.6 points, or 3.3 percent, Tuesday. After opening at 2,533.34, the market showed a limited recovery. It fluctuated throughout the trading hours, but eventually lost over 10 points. Shortly after trading began Tuesday, the Korea Exchange, the nation's sole bourse operator, activated a sidecar trad
Aug. 6, 2024
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Seoul shares open sharply higher after worst crash
South Korean stocks began sharply higher Tuesday following the previous session's worst crash over mounting US recession fears and the sluggish performance of big tech shares. The benchmark Korea Composite Stock Price Index gained 106.11 points, or 4.35 percent, to 2,547.66 in the first 15 minutes of trading. During the session, the bourse operator issued a sidecar order at 9:06 a.m., halting program purchasing for five minutes, after the Kospi 200 index rose over 5 percent for more than 1
Aug. 6, 2024
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Financial authorities ready to take action against stock market rout
South Korea's financial authorities said Tuesday that they are ready to take action against extremely volatile market jitters urging investors to remain calm and cool-headed given the country's sound economic fundamentals. The country's benchmark Korea Composite Stock Price Index suffered the worst crash on Monday as investors staged a massive selling binge out of fears over a recession in the United States. The index plummeted a record 234.64 points, or 8.77 percent, to close at
Aug. 6, 2024
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US recession fears send Kospi plunging by record high of nearly 9%
South Korean stocks tumbled by the most on record to a near nine-month low Monday amid intensifying fears over a US economic slowdown, with big tech coming under heavy selling. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) plummeted a record 234.64 points, or 8.77 percent, to close at 2,441.55, after dipping to as low as 2,273.97 at one point, following a 3.65 percent loss the previous session. It is the lowest closing price since Nov. 14, whe
Aug. 5, 2024
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Seoul shares open sharply lower on continuing US slowdown fears
South Korean stocks started sharply lower Monday as investor sentiment was dampened by continuing fears of a US economic slowdown. The benchmark Korea Composite Stock Price Index (Kospi) fell 100.4 points, or 3.75 percent, to 2,575.79 in the first 15 minutes of trading. On Friday, the Kospi slumped 3.65 percent to a two-month low of 2,676.19 after US unemployment claims hit the highest in almost a year, fueling concerns over the world's largest economy. Moreover, the US unemployment rate, r
Aug. 5, 2024
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Seoul stocks open sharply lower on US losses amid slowdown woes
Seoul shares opened sharply lower Friday, tracking overnight losses on Wall Street, as disappointing US economic data raised concerns over an economic slowdown despite the Fed's rate-cut signals. The benchmark Korea Composite Stock Price Index fell 68.48 points, or 2.47 percent, to 2,709.20 in the first 15 minutes of trading. US data showed unemployment claims hit the highest in almost a year and manufacturing shrank. The monthly employment data is set to be released Friday. The Fed signale
Aug. 2, 2024
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Seoul shares up for 2nd day on Fed's rate-cut signal
South Korean stocks increased for two straight sessions Thursday driven by the US Federal Reserve's strong signal for a rate cut next time. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index increased 6.99 points, or 0.25 percent, to close at 2,777.68, following a 1.19 percent rise the previous day. Trade volume was moderate at 463.9 million shares worth 10.6 trillion won ($7.75 billion), with gainers outnumbering losers 632 to 247. Foreig
Aug. 1, 2024
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Seoul stocks open higher on dovish Fed
South Korean stocks started higher Thursday, driven by the US Federal Reserve's rate-cut signals. The benchmark Korea Composite Stock Price Index (Kospi) gained 18.65 points, or 0.67 percent, to 2,789.34 in the first 15 minutes of trading. At its rate-setting meeting, the US central bank froze its key rate in the 5.25-5.50 percent range. Chair Jerome Powell said a reduction in policy rate "could be on the table" at its upcoming meeting next month. The comments pushed up US stocks,
Aug. 1, 2024
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Seoul shares spike over 1% on tech gains amid rate cut hopes
Seoul shares ended sharply higher Wednesday on tech gains amid expectations that the US Federal Reserve may begin a rate cutting cycle within months. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shot up 32.50 points, or 1.19 percent, to close at 2,770.69. Trade volume was moderate at 543.14 million shares worth 11.84 trillion won ($8.6 billion), with gainers outnumbering losers 586 to 302. Institutions and foreigners bought a combined 202 billion won
July 31, 2024