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Seoul shares open higher amid US tariff optimism
South Korean stocks opened markedly higher Friday, tracking Wall Street gains, after South Korea and the United States agreed to craft a package of deals on the US' new tariff scheme by July. The benchmark Korea Composite Stock Price Index rose 19.53 points, or 0.77 percent, to 2,541.86 in the first 15 minutes of trading. Investors closely watched the first round of trade talks between South Korea and the US held in Washington on Thursday, where the two sides agreed to pursue a tariff deal befor
April 25, 2025 -
Seoul shares end lower ahead of US tariff talks
South Korean stocks finished a tad lower Thursday as investors awaited tariff talks with the United States amid deepening concerns over economic growth. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 3.23 points, or 0.13 percent, to close at 2,522.33. Trade volume was slim at 323.69 million shares worth 7.22 trillion won ($5.03 billion), with losers beating winners 457 to 403. Institutions and foreign investors shed a net 198.44 billion won an
April 24, 2025 -
Short selling of SK hynix surges to record on trade, AI concerns
Bearish bets on shares of SK hynix surged to an all-time high this month, as South Korea ended its ban on short-selling at perhaps the worst possible time for the memory chipmaker. The March 31 regulatory change made for a triple whammy on the stock, with investors souring on the AI theme while the US kicked off a global trade war. Even with SK hynix expected to post strong earnings Thursday, short-sellers are betting on a bleak outlook. Short sales of SK hynix shares have reached 1.5 trillion w
April 23, 2025 -
Seoul shares rise to 1-month high amid tariff optimism
South Korean stocks rose to the highest level in about a month Wednesday as investors harbored expectations for upcoming tariff talks with the United States, as well as for easing Sino-US trade tensions. The local currency remained flat against the US dollar. The benchmark Korea Composite Stock Price Index added 38.92 points, or 1.57 percent, to close at 2,525.56, which was the highest level since March 28, when the index finished at 2,557.98. Trade volume was moderate at 529.94 million shares w
April 23, 2025 -
Seoul shares open higher on hopes for eased Sino-US trade tensions
South Korean stocks got off to a strong start Wednesday, tracking Wall Street gains, amid hopes for easing tariff tensions between the United States and China. The benchmark Korea Composite Stock Price Index rose 27.38 points, or 1.1 percent, to 2,514.02 in the first 15 minutes of trading. Overnight, US shares surged after US Treasury Secretary Scott Bessent said he expected the trade war with China to de-escalate and a deal would be reached, according to foreign media reports. Investors also we
April 23, 2025 -
Mirae Asset’s Aussie unit surpasses A$10b under management
Global X Australia, an exchange-traded fund manager under Mirae Asset Global Investments, has garnered over 10 billion Australian dollars ($6.4 billion) in assets under management, showing sharp growth, according to the firm’s announcement on Monday. The Aussie ETF provider's assets under management more than doubled from the A$4.64 billion in 2022 when Mirae Asset acquired the firm, to hitting the A$10 billion milestone in just three years. With the assets under management, it is the fifth-larg
April 21, 2025 -
Seoul shares rise for 3rd day; tariff talks in focus
South Korean stocks finished slightly higher Monday as investors await upcoming tariff negotiations with the United States. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 5.0 points, or 0.2 percent, to close at 2,488.42, extending its winning streak to a third session. Trade volume was slim at 423.58 million shares worth 5.18 trillion won ($3.66 billion), with winners beating losers 499 to 370. Individuals and institutions purchased a net 185
April 21, 2025 -
Seoul shares open tad higher amid tariff woes
South Korean stocks opened slightly higher on Monday as the country is set for negotiations with the United States over the sweeping tariff scheme. The benchmark Korea Composite Stock Price Index rose 5.61 points, or 0.23 percent, to 2,489.03 in the first 15 minutes of trading. Seoul's industry ministry said Sunday that the government plans to kick-start tariff negotiations with the Donald Trump administration later this week in Washington. South Korea was slapped with 25 percent reciprocal tari
April 21, 2025 -
Gold trading in Korea quadruples amid relentless global rally
Gold prices are soaring as investors flock to safe-haven assets amid escalating global trade tensions. In South Korea, where the gold rush has reached a fever pitch, daily trading volume has quadrupled, according to market data. Spot gold surged to a record $3,357 per ounce on global markets on Thursday, extending its year-to-date gain to 26 percent, two days after breaching the $3,300 threshold for the first time. In Korea, prices were slightly lower at around 4.3 million won ($3,020) per ounce
April 20, 2025 -
Seoul shares end higher on hopes for smooth US tariff negotiations
South Korean stocks finished higher Friday as investors bet on smooth tariff negotiations between the United States and its trading partners. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 13.01 points, or 0.53 percent, to close at 2,483.42. Trade volume was light at 444 million shares worth 5.5 trillion won ($3.87 billion), with winners beating losers 619 to 247. Institutions purchased a net 81.4 billion won worth of stocks, while foreign an
April 18, 2025 -
Seoul shares open tad higher on US-Japan tariff talks
South Korean stocks opened a tad higher Friday on rising hopes for progress in trade talks between the United States and Japan. The benchmark Korea Composite Stock Price Index rose 5.51 points, or 0.22 percent, to 2,475.92 in the first 15 minutes of trading. Overnight, US stocks closed lower. The Nasdaq declined 0.13 percent, and the Dow Jones Industrial Average fell 1.33 percent. However, investors remained optimistic following US President Donald Trump's comments about "big progress" in the bi
April 18, 2025 -
Seoul shares open slightly higher despite US losses
South Korean stocks started slightly higher Thursday despite losses on Wall Street, driven by Federal Reserve Chair Jerome Powell's pessimistic comments on economic growth. The benchmark Korea Composite Stock Price Index rose 9.85 points, or 0.4 percent, to 2,457.28 in the first 15 minutes of trading. Overnight, Wall Street closed sharply lower after Powell said higher-than-expected tariffs would lead to higher inflation and slower growth and remained firm about a possible rate movement. The Dow
April 17, 2025 -
Seoul shares rise for 2nd day on overnight US gains
South Korean stocks on Tuesday closed higher for the second straight session, moving in line with overnight US stock gains over eased concerns over President Donald Trump's tariff measures. The Korean fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 21.52 points, or 0.88 percent, to close at 2,477.41. Trade volume was moderate at 550.7 million shares worth 6.4 trillion won ($4.49 billion), with winners beating losers 707 to 179. Institutions bought a net 182.8 bil
April 15, 2025 -
Indonesia tightens rules on foreign banks, targeting Korean financial firms
Korean commercial banks are under pressure from Indonesian financial authorities to establish local holding companies, adding to the regulatory challenges that have hampered their efforts to expand in the market. According to industry sources on Tuesday, Otoritas Jasa Keuangan, Indonesia’s independent financial regulatory agency, mandates that companies with either two or more financial affiliates in the country and total assets exceeding 100 trillion Indonesian Rupiah ($5.95 billion), or three
April 15, 2025 -
Seoul shares open higher tracking overnight Wall Street gains
South Korean stocks opened slightly higher Tuesday, moving in line with overnight US stock gains over eased concerns over President Donald Trump's tariff measures. The benchmark Korea Composite Stock Price Index rose 11.07 points, or 0.45 percent, to 2,466.96 in the first 15 minutes of trading. Overnight, Wall Street closed higher following Trump's announcement of an exemption from reciprocal tariffs for smartphones, computers and other electronics over the weekend. The S&P 500 gained 0.79 perce
April 15, 2025