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Seoul shares close tad lower on foreign selling
South Korean shares closed slightly lower Thursday as foreign investors extended their selling streak to a second session. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) slipped 1.06 points, or 0.04 percent, to close at 2,609.30. Trading volume was moderate at 325 million shares worth 9.7 trillion won ($7.09 billion), with losers outnumbering gainers 511 to 358. Foreign investors net sold 405.8 billion won worth of local shares, on
Oct. 17, 2024 -
Seoul shares open tad higher on US gains
South Korean shares opened a tad higher Thursday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 1.75 points, or 0.07 percent, to 2,612.11 in the first 15 minutes of trading. US stocks rebounded on Wednesday, one day after posting sharp declines on concerns of a downturn in the artificial intelligence and semiconductor market. The Dow Jones Industrial Average gained 0.79 percent to close at 43,077.70, with the tech-heavy Nasdaq advancing 0.2
Oct. 17, 2024 -
Seoul shares end 2-day rise on slump in techs, financials
South Korean stocks ended lower Wednesday due to losses in tech shares amid concerns over their earnings. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 23.09 points, or 0.88 percent, to close at 2,610.36, ending the two-session winning streak. Trading volume was moderate at 429.5 million shares worth 9.8 trillion won ($7.2 billion), with losers outnumbering gainers 551 to 323. Foreign investors led the daily drop, dumping a net 664.3 b
Oct. 16, 2024 -
Seoul shares open sharply lower on US losses
South Korean stocks started sharply lower, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 29.41 points, or 1.12 percent, to 2,604.04 in the first 15 minutes of trading. Overnight, US stocks closed sharply lower due to poorer-than-expected earnings outlooks of chip equipment-maker ASML Holdings. The Dow Jones Industrial Average fell 0.75 percent, and the tech-heavy Nasdaq Composite tumbled 1.01 percent. In Seoul, most shares opened weaker across the
Oct. 16, 2024 -
Seoul shares open higher on Wall Street gains
South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 5.45 points, or 0.21 percent, to 2,628.74 in the first 15 minutes of trading. Overnight, US stocks closed sharply higher ahead of earnings reports. The Dow Jones Industrial Average gained 0.47 percent to close at 43,065.22, breaching the 43,000 mark for the first time, while the S&P 500 also climbed to a record high of 5,859.85. In Seoul, large cap
Oct. 15, 2024 -
Seoul shares jump over 1% on tech gains, foreign buying
South Korean shares closed sharply higher Monday, helped by strong advances in tech and financial shares. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 26.38 points, or 1.02 percent, to close at 2,623.29. Trading volume was moderate at 391 million shares worth 8.3 trillion won ($6.12 billion), with gainers outnumbering losers 488 to 395. Foreigners net bought 77.6 billion won worth of shares while retail investors dumped 440
Oct. 14, 2024 -
Seoul shares open higher on Wall Street gains
South Korean shares opened slightly higher Monday, taking a cue from Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) added 15.92 points, or 0.61 percent, to 2,612.83 in the first 15 minutes of trading. The rise follows gains on Wall Street last week. The Dow Jones Industrial Average closed 0.97 percent higher Friday (US time), with the tech-heavy Nasdaq advancing 0.33 percent. In Seoul, large caps traded mixed. Market kingpin and tech giant Samsung Electronics advanced
Oct. 14, 2024 -
Samsung Electronics sheds W90tr in market cap amid foreigners' selloff
Samsung Electronics, South Korea’s largest chipmaker, has seen its market cap shrink by a staggering 90 trillion won ($66.6 billion) since September, largely driven by a sustained selling spree among foreign investors. According to the Korea Exchange on Sunday, foreigners have net sold 10.6 trillion won in Samsung Electronics shares over the past month, marking 23 consecutive days of selling since Sept. 3 -- just two days shy of the record 25-day selling streak set in 2022. During this per
Oct. 13, 2024 -
Seoul shares open higher ahead of BOK rate decision
South Korean stocks opened higher Friday as the country's central bank was set to hold a rate-setting meeting later in the day. The benchmark Korea Composite Stock Price Index rose 0.68 percent, or 17.55 points, to 2,616.71 in the first 15 minutes of trading. Investors' eyes are on the results of the Bank of Korea's monetary policy meeting to be held later in the day, where it is widely expected to start its rate-cutting cycle. Overnight, Wall Street lost ground amid mixed bets on
Oct. 11, 2024 -
Seoul shares end tad higher on Wall Street gains
Seoul stocks finished marginally higher Thursday on overnight US stock gains amid a decline in international oil prices. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index edged up 0.19 percent, or 4.8 points, to 2,599.16. Trading volume was heavy at 603 million shares worth 13.48 trillion won ($9.99 billion), with gainers outpacing losers at 442 to 423. Institutions sold a net 299.6 billion won, while foreign and retail investors together bought a net
Oct. 10, 2024 -
Seoul shares open higher on Wall Street gains
Seoul stocks opened higher Thursday thanks to overnight US stocks gains led by a decline in international oil prices and a rise in local tech stocks. The benchmark Korea Composite Stock Price Index rose 0.46 percent, or 11.90 points, to 2,606.26 in the first 15 minutes of trading. Overnight, US stocks extended their gains thanks to a decline in global oil prices and gains in tech stocks. The Dow Jones Industrial Average rose 1.03 percent, the S&P 500 gained 0.71 percent, and the tech-heavy N
Oct. 10, 2024 -
Bond sales rise on corporate bond issues in Sept.
Bond sales in South Korea rose sharply from a month earlier in September helped by an increase in corporate bond issues, data showed Thursday. The value of bonds sold last month came to 77.1 trillion won ($57.1 billion), up 7.4 trillion won from 69.7 trillion won sold in August, according to the data from the Korea Financial Investment Association. The value of outstanding bonds, on the other hand, dropped 10.3 trillion won to 2,802.6 trillion won over the cited period, due to a sharp decline in
Oct. 10, 2024 -
Will K bank make W5tr jackpot debut?
Korea's first internet-only bank, K bank, is preparing for its upcoming initial public offering, with demand forecasting kicking off Thursday. According to its securities registration filing, K bank started a weeklong demand forecast from institutional investors on Thursday. This process allows investors to submit their desired purchase quantities and prices before the public offering, guiding the company in determining the final offering price. K bank's target price range is set betwe
Oct. 10, 2024 -
Seoul shares end lower on weak earnings by Samsung, US losses
Seoul stocks finished lower Tuesday due to weaker-than-expected earnings results by Samsung Electronics and overnight US stock losses. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 0.61 percent, or 16.02 points, to 2,594.36. Trading volume was moderate at 313 million shares worth 8.98 trillion won ($6.65 billion), with losers outpacing gainers at 569 to 305. Institutions and foreign investors together sold a net 72 billion won, while retai
Oct. 8, 2024 -
Seoul shares open lower over weak Samsung earnings, US losses
Seoul stocks opened lower Tuesday following weaker-than-expected tentative earnings results from Samsung Electronics and overnight US stock losses. The benchmark Korea Composite Stock Price Index dropped 0.55 percent, or 14.28 points, to 2,596.10 in the first 15 minutes of trading. Ahead of the trading session, Samsung Electronics estimated its third-quarter operating profit to reach 9.1 trillion won, apparently failing to meet market expectations due to the lukewarm performance of its flagship
Oct. 8, 2024