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South Korean President Yoon Suk Yeol declares martial law
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President Yoon Suk Yeol declares end to martial law after six-hour chaos
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'Is this happening in 2024?' South Koreans in panic, disbelief
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Ruling party leader denounces Yoon's declaration of emergency martial law
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What unfolded on Tuesday night in Seoul: A timeline
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South Korea sees first martial law in over 40 years
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Assembly passes motion to revoke martial law
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Main opposition to push for impeachment of President Yoon Suk Yeol
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Seoul defense chief calls meeting of key commanders
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Does cross atop Christmas tree at Seoul Plaza reflect religious bias?
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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
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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
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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
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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
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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
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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
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[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
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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
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Seoul shares end almost flat ahead of key US inflation data
Seoul shares ended almost flat Friday after a three-day rise ahead of key US inflation data due this week. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 1.08 point, or 0.04 percent, to close at 2,636.52. The main index has fallen 1.9 percent this week. Trade volume was heavy at 594.78 million shares worth 15.45 trillion won ($11.1 billion), with gainers far outpacing losers 533 to 332. Institutions and individuals bought a combined 1.35 trillion
May 31, 2024
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Seoul shares open higher on hopes for Fed's rate cut
Seoul shares opened higher Friday as the US economic growth grew at a slower-than-expected pace and poor corporate earnings revived hopes for the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 19.27 points, or 0.73 percent, to 2,654.71 in the first 15 minutes of trading. Investors are also awaiting US consumption data due later in the day, which may offer clues on the Fed's future policy path. In Seoul, most large-cap stocks advanced. Market bellwethe
May 31, 2024
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Seoul shares dip over 1.5% ahead of US inflation data; won sharply down at 1-month low
Seoul shares dropped for the third consecutive session Thursday ahead of key US inflation data. The Korean won also dipped to the lowest in one month against the US dollar. The benchmark Korea Composite Stock Price Index fell 41.86 points, or 1.56 percent, to close at 2,635.44. Trade volume was moderate at 366.42 million shares worth 10.92 trillion won ($7.9 billion), with losers far outpacing gainers 680 to 197. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 point
May 30, 2024
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Nvidia dethrones Tesla as Korea's top stock pick
US chip giant Nvidia has become South Korea's most-owned foreign stock, replacing Tesla in the top spot after four years. As of Thursday, South Koreans held a combined $11.07 billion worth of Nvidia stocks, according to the Korea Securities Depository's securities information portal. This figure surpassed $10.67 billion in Tesla shares. Nvidia has dethroned Tesla as the top stock pick among Korean investors for the first time since July 2020, when the world's biggest electric vehi
May 30, 2024
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Seoul shares open lower amid waning hopes for Fed rate cut
Seoul shares opened lower Thursday, tracking overnight losses on Wall Street, as the Federal Reserve appears to be in no rush to cut interest rates in the face of the strong economy and high inflation. The benchmark Korea Composite Stock Price Index fell 15.47 points, or 0.58 percent, to 2,661.83 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 points, and the tech-heavy Nasdaq composite retreated 0.58 percent to 16,920.58. The Fed
May 30, 2024
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Seoul shares dip over 1.5% ahead of US inflation data
Seoul shares closed sharply lower Wednesday as investors waited for major events, including this week's US inflation data. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index plunged 45.55 points, or 1.67 percent, to close at 2,722.85. Trade volume was moderate at 431 million shares worth 12.7 trillion won ($9.36 billion), with losers far outpacing gainers 673 to 220. Foreigners dumped a net 1 trillion won, while individuals scooped up a net 1.26 t
May 29, 2024
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Seoul shares open lower on auto, chemical losses
South Korean stocks opened lower Wednesday, bucking overnight gains on Wall Street as auto and chemical shares slumped. The benchmark Korea Composite Stock Price Index fell 4.19 points, or 0.15 percent, to 2,718.66 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite closed at an all-time high by advancing 0.59 percent, while the Dow Jones Industrial Average moved down 0.55 percent. The United States is set to release April's Personal Consumption Expenditures index
May 29, 2024
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Seoul shares close nearly flat as investors search for clues over rate direction
South Korean stocks closed nearly flat after choppy trading Tuesday as investors waited for clues over the direction of the US rate decision. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index edged down 0.14 points, or 0.01 percent, to close at 2,722.85. Trade volume was moderate at 432 million shares worth 11.3 trillion won ($8.31 billion), with losers outpacing gainers 467 to 401. Foreigners bought a net 45.4 billion won worth of local shares, while
May 28, 2024
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Seoul shares open lower on tech slump
South Korean stocks opened lower Tuesday due to losses in tech shares, with investors also waiting for more hints on the future course of US key rates. The benchmark Korea Composite Stock Price Index fell 4.82 points, or 0.18 percent, to 2,718.17 in the first 15 minutes of trading. Top tech giant Samsung Electronics lost 0.26 percent, while No. 2 chipmaker SK hynix gained 0.99 percent. Leading battery maker LG Energy Solution dropped 0.96 percent, and Samsung SDI fell 1.57 percent. Naver, which
May 28, 2024
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Seoul shares snap 4-day losing streak on bargain hunting
South Korean stocks jumped over 1 percent Monday to snap their four-day losing streak on bargain hunting amid dashed hopes for an early rate cut by the Federal Reserve. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index moved up 35.59 points, or 1.32 percent, to close at 2,722.99. Trade volume was moderate at 546 million shares worth 15.6 trillion won ($11.4 billion), with losers slightly outpacing gainers 442 to 422. Foreigners sold a net 140 billion
May 27, 2024
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KB Financial to announce ‘value-up’ plans in Q4
KB Financial Group is to release a plan to uplift its corporate value in the fourth quarter as part of the government's "corporate value-up” directive, the financial giant said Monday in a regulatory filing. Its board members and executives held a meeting Friday, discussing how to boost its corporate value through mid- to long-term asset management, asset growth strategies and shareholder return policies, according to the announcement. The boost plan will include monitoring of th
May 27, 2024
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Seoul shares open higher on bargain hunting
South Korean stocks opened higher Monday as investors hunted for bargains after four consecutive sessions of losses through Friday amid dashed hopes for an early rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index added 11.09 points, or 0.41 percent, to 2,698.69 in the first 15 minutes of trading. Chemical shares opened higher, with cosmetics giant AmorePacific rising 0.49 percent and SK Innovation adding 0.88 percent. Financial firms gained ground as well, with KB F
May 27, 2024