Seoul shares open higher on Wall Street gains

South Korean shares opened higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 14.63 points, or 0.55 percent, to 2,698.28 in the first 15 minutes of trading. The Dow Jones Industrial Average closed 0.85 percent higher Thursday, while the Nasdaq rose 1.51 percent on dovish remarks from US Federal Reserve Chair Jerome Powell suggesting there will unlikely be a rate hike in the near future. In Seoul, most large caps were in positive terrain.

May 3, 2024

Seoul shares snap 3-day rise after FOMC decision

South Korean stocks fell slightly Thursday following the US Federal Reserve's decision to hold the key rate flat. The Korean won rebounded against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.41 points, or 0.31 percent, to 2,683.65, ending the three-session winning streak that started last Friday. Trade volume was slim at 342.7 million shares worth 8.9 trillion won ($6.5 billion). Decliners outnumbered gainers 513 to 357. Individual and foreign investors bought a ne

May 2, 2024

Global X Canada debuts as Mirae Asset aims unified global ETF brand

Mirae Asset Global Investments announced Thursday that its Canadian exchange-traded fund subsidiary, Horizons ETFs, is rebranded as Global X Canada, aligning with an integrative strategy of its global ETF offerings under the unified brand, Global X. Since being acquired by Mirae Asset Global Investments in 2011, the Canadian ETF firm has witnessed substantial growth in assets under management. AUM have escalated by 963 percent, growing from approximately 3 billion Canadian dollars ($2.2 billio

May 2, 2024

Seoul shares open lower on Fed's rate freeze

South Korean stocks started lower Thursday following the US Federal Reserve's rate-freeze decision. The benchmark Korea Composite Stock Price Index lost 7.6 points, or 0.28 percent, to 2,684.46 in the first 15 minutes of trading. On Wall Street, US stocks closed mixed after the central bank held the key interest rate flat and signaled a future rate cut, citing volatile inflation. The Dow Jones Industrial Average rose 0.23 percent, and the Nasdaq Composite dropped 0.33 percent. In Seoul, chi

May 2, 2024

[KH Explains] Will alternative trading platform shake up Korean stock market?

Korea’s stock market is set to enter a new phase with the upcoming launch of the first alternative trading system for the Korea Exchange, the nation’s sole bourse operator that has enjoyed almost 70 years of monopoly. Nextrade, a consortium of 34 securities and tech firms established in November 2022, aims to earn the final regulatory approval within the year for its official debut in the first quarter of next year. More than 20 brokerage houses here have already expressed their inte

May 1, 2024

Seoul shares up for 3rd day on Samsung, batteries

South Korean stocks finished up for a third consecutive session Tuesday backed by a strong earnings performance by top cap Samsung Electronics and overnight US stock gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 4.62 points, or 0.17 percent, to 2,692.06. Trade volume was moderate at 450 million shares worth 11.1 trillion won ($8.03 billion). Winners outpaced losers 439 to 408. Institutions and foreign investors combined bought a net 52

April 30, 2024

Seoul shares open higher on Samsung

South Korean stocks opened slightly higher Tuesday backed by strong earnings performance by top cap Samsung Electronics and overnight US stock gains. The benchmark Korea Composite Stock Price Index gained 7.81 points, or 0.29 percent, to 2,665.25 in the first 15 minutes of trading. Samsung Electronics, the world's largest memory chip manufacturer, announced earlier in the day its first quarter operating profit shot up more than tenfold from a year ago in the first quarter, with its chip bus

April 30, 2024

Seoul shares jump over 1% on battery, chemical stocks

Seoul shares closed over 1 percent higher Monday on advances in battery and chemical shares amid a slump in techs. The local currency slightly fell against the US dollar. The benchmark Korea Composite Stock Price Index added 31.11 points, or 1.17 percent, to close at 2,687.44. Trade volume was moderate at 461 million shares worth 10.2 trillion won ($7.4 billion), with gainers outnumbering losers 719 to 165. Foreigners remained net buyers for a second consecutive session, scooping up a net 415.9

April 29, 2024

Seoul shares open higher on large cap gains

South Korean stocks opened higher Monday on large cap gains, tracking advances on Wall Street last week. The benchmark Korea Composite Stock Price Index added 13.6 points, or 0.51 percent, to 2,669.93 in the first 15 minutes of trading. The advance follows Wall Street gains last week. The Dow Jones Industrial Average closed 0.4 percent higher Friday, while the tech-heavy Nasdaq spiked 2.03 percent. In Seoul, most large caps were in positive terrain. Market bellwether Samsung Electronics went up

April 29, 2024

S. Korean stock markets' trading volume down 11% in April

South Korean stock markets' trading volume dipped 11 percent in April from a month earlier amid growing uncertainties, including the geopolitical tension stemming from the Middle East, data showed Sunday. The combined daily average trading volume in the main Kospi, tech-heavy KOSDAQ and small businesses-focused KONEX markets, came to 20.2 trillion won ($14.6 billion) in April as of Friday, according to the Korea Exchange, the country's bourse operator. The amount marked an 11 percent d

April 28, 2024

Seoul shares rise 1% on tech, financial gains despite overnight US losses

South Korean stocks closed higher Friday as investors purchased tech and financial blue chips despite overnight losses on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.71 points, or 1.05 percent, to 2,656.33. Trade volume was moderate at 443 million shares worth 9.93 trillion won ($7.21 billion). Winners outpaced losers 460 to 405. Institutions and foreign investors combined bought a net 537 billion won, while retail investors unl

April 26, 2024

Seoul shares open higher on tech, financial gains

South Korean stocks opened higher Friday as investors purchased techs and financials despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 20.16 points, or 0.77 percent, to 2,648.78 in the first 15 minutes of trading. Overnight, Wall Street lost ground as Meta and other big tech companies retreated as the US economy expanded at a sharply slower-than-expected pace in the first quarter. The S&P 500 dropped 0.5 percent, and the tech-heavy Nasdaq shed 0.6

April 26, 2024

Seoul shares dip 1.76 % over tech, battery slump

South Korean stocks plummeted more than 1.7 percent Thursday as investors sought profits following the previous session's sharp rise amid mixed overnight results on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index slumped 47.13 points, or 1.76 percent, to 2,628.62. Trade volume was slim at 304 million shares worth 8.72 trillion won ($ 6.35 billion), with losers outpacing winners 487 to 360. Institutions and foreign investors combined so

April 25, 2024

Seoul shares jump 2% on rally in techs, batteries

South Korean stocks soared 2 percent Wednesday as tech, secondary battery and other market heavyweights rallied following overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 52.73 points, or 2.01 percent, to 2,675.75. Trade volume was moderate at 319 million shares worth 10.06 trillion won ($7.34 billion). Winners outpaced losers 610 to 270. Institutions and foreign investors combined bought a net 855.3 billion won, w

April 24, 2024

Seoul shares open sharply higher on US stock gains

South Korean stocks opened stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed up 46.43 points, or 1.77 percent, to 2,669.45 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 1.2 percent and the tech-heavy Nasdaq jumped 1.59 percent, while the Dow Jones Industrial Average gained 0.69 percent, as tech heavyweights lifted the broader US stock market.

April 24, 2024

Seoul shares fall on foreign selling despite overnight US gains

South Korean stocks finished slightly lower Tuesday as foreign investors took profit despite overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.42 points, or 0.24 percent, to 2,623.02. Trade volume was moderate at 316 million shares worth 9.43 trillion won ($6.84 billion). Winners, however, outpaced losers 671 to 403. Foreign investors sold a net 288.8 billion won, while institutions and individuals combined bought a

April 23, 2024

Seoul shares open higher on tech, auto gains

South Korean stocks opened slightly higher Tuesday as investors picked up tech and auto shares following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index edged up 4.4 points, or 0.17 percent, to 2,633.84 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 0.9 percent and the tech-heavy Nasdaq jumped 1.1 percent, while the Dow Jones Industrial Average gained 0.7 percent, as investors looked forward to positive first-quarter corporate e

April 23, 2024

Seoul shares rise 1.4% on financial, auto gains

South Korean stocks rose over 1.4 percent Monday as financial, auto and other blue chips advanced after last week's overall market decline amid eased tensions in the Middle East. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 37.58 points, or 1.45 percent, to close at 2,629.44. Trade volume was moderate at 389 million shares worth 10.85 trillion won ($7.86 billion), with winners outpacing gainers 659 to 226. Lee Kyung-min, an analyst at Da

April 22, 2024

Seoul shares open higher on financial, bio gains

South Korean stocks opened higher Monday as investors scooped up financials, bios and other blue chips following last week's overall market decline amid eased tensions in the Middle East. The benchmark Korea Composite Stock Price Index gained 32.11 points, or 1.24 percent, to trade at 2,623.97 in the first 15 minutes of trading. Financial stocks led the overall bullish market, with KB Financial surging 5.49 percent and Shinhan Financial soaring 5.39 percent. Bio shares also gained strong mo

April 22, 2024

Seoul shares rattled by Israeli attack on Iran; Kospi dips to nearly 11-week low

The South Korean market on Friday faced heightened volatility in response to Israel's military actions against Iran, with the benchmark Korea Composite Stock Price Index plunging to its lowest level in 11 weeks. The dip coincided with a weakening of the local currency. The Kospi concluded the day at 2591.86, marking a marginal decrease of 1.63 percent from the previous session. Initially opening at 2,600.69, a decrease of 34.01 from the prior session, the index experienced a sharp downturn

April 19, 2024