Seoul shares open higher on US tech gains

South Korean stocks opened higher Wednesday, tracking overnight gains by US big tech shares. The benchmark Korea Composite Stock Price Index added 9.05 points, or 0.33 percent, to 2,714.37 in the first 15 minutes of trading. The US stock market closed mixed overnight as investors remained cautious about the conclusion of the Federal Open Market Committee meeting, set to end Wednesday. The Dow Jones Industrial Average retreated 0.31 percent to close at 38,747.42, but the tech-heavy Nasdaq advance

June 12, 2024

Seoul shares close tad higher ahead of US Fed meeting

South Korean shares closed slightly higher Tuesday ahead of the Federal Reserve's rate-setting meeting this week. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 4.15 points, or 0.15 percent, to close at 2,705.32. Trade volume was moderate at 550 million shares worth 11.6 trillion won ($8.4 billion), with losers outnumbering gainers 510 to 349. The index had opened higher, tracking overnight gains on Wall Street. After choppy tra

June 11, 2024

KB Kookmin Card's Indonesia unit marks 30th anniversary

KB Kookmin Card on Monday celebrated the 30th anniversary of its Indonesian subsidiary, KB Finansia Multi Finance, in the capital city Jakarta. Established in 1994, KB FMF is a credit finance corporation that primarily offers mortgages for used cars and motorcycles, as well as installment financing for durable goods. KB Kookmin Card acquired shares of KB FMF in July 2020, integrating it as a subsidiary. KB Kookmin Card CEO Lee Chang-kwon attended the event and encouraged local employees, present

June 11, 2024

Seoul shares open higher on Wall Street gains

South Korean stocks opened slightly higher Tuesday, tracking overnight gains on Wall Street ahead of a US Fed meeting. The benchmark Korea Composite Stock Price Index added 9.99 points, or 0.37 percent, to 2,711.16 in the first 15 minutes of trading. The positive start follows overnight gains on Wall Street, with investors taking caution ahead of the US Federal Open Market Committee meeting slated for Tuesday and Wednesday. The Dow Jones Industrial Average added 0.18 percent to close at 38,868.0

June 11, 2024

Seoul shares close lower ahead of US Fed meeting; won sharply down

South Korean shares closed lower Monday as investors took to the sidelines ahead of the US Federal Reserve's rate-setting meeting later this week. The local currency sharply lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 21.5 points, or 0.79 percent, to close at 2,701.17. Trade volume was moderate at 499.3 million shares worth 11.16 trillion won ($8.1 billion), with losers outnumbering gainers 499 to 381. Retail investors scooped up a net 553.8 billi

June 10, 2024

400,000 minors own Samsung Electronics shares worth W1.54tr

The number of underage stakeholders in Samsung Electronics, the country's largest company by market capitalization, has surged nearly 21 times in four years, reaching almost 400,000. According to the Korea Securities Depository's securities data portal, as of the end of last year, there were 391,869 Samsung Electronics shareholders under the age of 20, making up 8.38 percent of the total 4,672,130 shareholders. The total value of Samsung Electronics shares owned by these underage inves

June 10, 2024

Seoul shares open sharply lower ahead of Fed meeting

Seoul shares opened sharply lower Monday ahead of the US Federal Open Market Committee meeting this week. The benchmark Korea Composite Stock Price Index lost 28.47 points, or 1.05 percent, to 2,694.20 in the first 15 minutes of trading. The weak start follows losses on Wall Street last week. The Dow Jones Industrial Average lost 87.18 points, or 0.22 percent, to close at 38,798.99 on Friday, following stronger-than-expected employment data that weakened hopes for a US rate cut. The US Federal R

June 10, 2024

From K bank to Shift Up, major players to heat up IPO market

South Korea's initial public offering market is set to maintain its momentum in the latter half of the year, driven by the stock market recovery, as well as the successful listings of big names earlier this year. Having shaken off last year's slump, the total amount raised through IPOs stood at 1.6 trillion won ($1.16 billion) as of end-May, accounting for over 40 percent of the previous year's annual total of 3.86 trillion won. Just in June, an additional 700 billion won is expected to flood in

June 9, 2024

Seoul shares rise over 1% on revived rate-cut hopes

South Korean stocks ended more than 1 percent higher Friday as investors' hopes for US rate cuts increased after the European Central Bank cut interest rates for the first time in almost five years. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 33.17 points, or 1.23 percent, to close at 2,722.67. Trade volume was heavy at 771.8 million shares worth 12.2 trillion won ($8.9 billion), with gainers outpacing losers 460 to 400. Foreign invest

June 7, 2024

Seoul shares open sharply higher on tech gains

South Korean stocks opened sharply higher Friday backed by gains of big-cap tech and financial shares. The benchmark Korea Composite Stock Price Index rose 38.36 points, or 1.43 percent, to 2,727.86 in the first 15 minutes of trading. Overnight, the US stock market closed mixed as investors remained cautious ahead of key jobs data to be released later in the day, which will likely set the tone for the Federal Reserve's rate policy. In Seoul, market bellwether Samsung Electronics gained 0.9

June 7, 2024

KLCA supports listed firms to offer corporate information in English

The Korea Listed Companies Association said Monday it has launched guidelines for listed firms to offer their corporate information in English and increase accessibility for foreign investors. The guidelines offer a standardized form for articles of incorporation, including key details about a company, the general purpose of the corporation, the type and number of shares, the board election process and more. The association has shared the standard form for articles of incorporation since 1980 bu

June 5, 2024

Seoul shares rise over 1% on US rate cut hopes

South Korean stocks rose more than 1 percent Wednesday backed by gains of chip and battery shares amid hopes for a rate cut by the Federal Reserve. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.40 points, or 1.03 percent, to close at 2,689.50. Trade volume was heavy at 871 million shares worth 13.4 trillion won ($9.76 billion), with gainers far outpacing losers 642 to 226. Foreign investors bought shares worth a net 589 billion won, while

June 5, 2024

Seoul shares open higher on hopes for Fed rate cut

South Korean stocks opened slightly higher Wednesday backed by gains of chip and battery shares amid hopes for a rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index rose 7.42 points, or 0.28 percent, to 2,669.52 in the first 15 minutes of trading. Overnight, the US stock market closed slightly higher on softer-than-expected labor market data that bolstered hopes for an interest rate cut by the Fed. In Seoul, market bellwether Samsung Electronics jumped 1.99 percent f

June 5, 2024

Seoul shares end lower on profit taking

South Korean stocks closed lower Tuesday after strong gains in the previous session and mixed overnight results on Wall Street. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 20.42 points, or 0.76 percent, to close at 2,662.10. Trade volume was heavy at 759.2 million shares worth 12.5 trillion won ($9.07 billion), with losers far outpacing gainers 642 to 226. Foreigners and institutions dumped shares worth a net 516 billion won, while individu

June 4, 2024

Analysts remain cautious on energy shares

Stock prices of oil- and gas-related companies went on a roller coaster ride Tuesday, amid investors’ interest in the discovery of possible oil reserves off the East Coast following President Yoon Suk Yeol’s announcement the previous day. With the government approving exploratory drilling for a potential 14 billion barrels of crude oil and natural gas reserve at Yeongil Bay in Pohang, North Gyeongsang Province, investors flocked to energy-related shares listed on the Korean bourse.

June 4, 2024

Seoul shares open lower on profit taking, mixed US stock results

South Korean stocked opened weaker Tuesday as investors took profit from strong gains the previous session and on mixed overnight results on Wall Street. The benchmark Korea Composite Stock Price Index slid 6.06 points, or 0.23 percent, to 2,676.46 in the first 15 minutes of trading. Overnight, Wall Street shares finished mixed amid the latest economic indicators showing a slowing of the US economy. The Dow Jones Industrial Average fell 0.3 percent while the Nasdaq composite gained 0.6 percent a

June 4, 2024

Oil, gas stocks skyrocket on massive drilling prospects

Stock prices of oil- and gas-related companies spiked Monday, following President Yoon Suk Yeol's approval for exploratory drilling of potentially massive reserves of natural resources off the country's southeastern coast. Out of 10 stocks that hit upper price limits on Monday, seven were related to oil and gas. The benchmark Kospi was up 1.74 percent from the previous day. Shares of the state-run Korea Gas Corp. surged by 29.9 percent to close at 38,600 won ($28). Other shares in the

June 3, 2024

Seoul shares jump over 1.7% on US inflation, strong data

South Korean stocks rallied by more than 1.7 percent Monday as investors' sentiment was boosted by favorable economic data that could lead to a rate cut in the United States. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index rose 46 points, or 1.74 percent, to close at 2,682.52, ending in positive territory for the second consecutive session. Trade volume was heavy at 768.6 million shares worth 13.8 trillion won ($10 billion), with gainer

June 3, 2024

[KH Explains] Korea yet to welcome spot crypto ETFs

While the US Securities and Exchange Commission made another move to embrace cryptocurrency by approving exchange-traded funds tied to the price of ether, the most famous crypto after bitcoin, spot cryptocurrency ETFs remain out of reach for South Korean investors. On May 23, the US SEC gave the green light for eight spot ether ETFs, potentially paving the way for the funds to begin trading later this year. The decision came four months after its landmark approval on spot bitcoin ETFs. For Korea

June 3, 2024

Seoul shares open higher on rate-cut hopes

South Korean stocks got off to a strong start Monday as moderate US inflation raised hopes for a possible rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index rose 33.76 points, or 1.28 percent, to 2,670.28 in the first 15 minutes of trading. The US personal consumption expenditures price index, excluding food and energy costs, increased 0.2 percent in April, meeting market expectations. The PCE index is one of the key barometers for the US central bank to set its ton

June 3, 2024