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Tariff shock: Sidecar triggered as Kospi falls below 2,400
Foreign investors remain cautious, but stimulus hopes and easing tariff risks may spark recovery later this year, analysts say South Korean stocks slumped Monday as renewed US tariff threats rattled markets, triggering a rare trading halt to curb volatility. The benchmark Kospi plunged 5.57 percent to close at 2,328.2, its lowest finish since November 2023. The tech-heavy Kosdaq also slumped 5.25 percent to 651.3. Panic selling erupted from the opening bell, prompting a sidecar — a five-minute h
April 7, 2025 -
Yoon’s ouster sends Kospi on wild ride; won rises on eased uncertainty
The local stock benchmark Kospi turned negative on Friday after briefly surpassing the 2,500 threshold during a volatile session triggered by President Yoon Suk Yeol’s impeachment ruling. Meanwhile, the Korean won strengthened against the US dollar as political uncertainty eased. The Kospi fluctuated significantly throughout the session before closing at 2,465.42, down 21.28 points, or 0.86 percent from the previous day, according to data from the Korea Exchange. The index opened at 2,450.49 and
April 4, 2025 -
Seoul shares drop for 2nd day on US reciprocal tariffs
South Korean stocks fell for the second consecutive session Thursday as the United States unveiled higher-than-expected reciprocal tariffs on imports from Asia's fourth-largest economy. The local currency declined slightly against the US dollar. The benchmark Korea Composite Stock Price Index fell 19.16 points, or 0.76 percent, to close at 2,486.7. The index had fallen to as low as 2,437.43 points, but recovered part of its losses in the afternoon session. Trade volume was slim at 474.7 million
April 3, 2025 -
Kospi tumbles, won slides amid US tariff shock
The South Korean benchmark Kospi plummeted and the Korean won lost value against the US dollar on Thursday, pressured by US President Donald Trump's tariff plan. The Kospi closed daytime trading at 2,486.7, down 19.16 points, or 0.76 percent, falling below the 2,500 threshold. The benchmark started the session at 2,437.43, down 2.7 percent from the previous day as investors responded to Trump’s announcement of new "reciprocal" tariffs on imports from all other countries, including Korea. The ind
April 3, 2025 -
Seoul shares open sharply lower on higher-than-expected US tariffs
South Korean stocks started sharply lower Thursday after US President Donald Trump announced higher-than-expected 25 percent reciprocal tariffs on Asia's fourth-largest economy. The benchmark Korea Composite Stock Price Index lost 52.02 points, or 2.08 percent, to 2,453.84 in the first 15 minutes of trading. Trump released plans to impose a 10 percent "baseline" tariff on imports from all foreign countries, as well as "reciprocal" tariffs, including 25 percent duties for South Korea. Before the
April 3, 2025 -
Samsung, defense stocks shine despite foreign sell-off
Foreign investors extended their net selling streak to eight months in March, even as they scooped up semiconductor and defense stocks. They offloaded a net 2.16 trillion won ($1.46 billion) in Kospi and Kosdaq shares over the month, according to the Korea Exchange on Tuesday, selling on 11 of 20 trading days. The pace accelerated on Monday, with 1.18 trillion won shed in a single session amid the full resumption of short-selling and escalating trade tariff concerns tied to US President Donald T
April 1, 2025 -
Seoul shares soar over 1.5% on bargain hunting, eased political uncertainties
South Korean stocks rebounded sharply by rising more than 1.5 percent Tuesday to snap a three-session losing streak on bargain hunting and eased political uncertainties. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 40.27 points, or 1.62 percent, to close at 2,521.39, rebounding from a 3 percent plunge the previous day. The index had fallen for three straight sessions from Thursday. Trade volume was slim at 450.3 million shares worth 6.9 tri
April 1, 2025 -
Korean won falls further to below 1,470 won, lowest in 16 yrs
The South Korean currency opened lower against the US dollar Tuesday, remaining well below the 1,470 won mark. The Korean won opened at 1,473.0 won per dollar, down 0.1 won from the previous session, and fell further to 1,474.2 won as of 9:30 a.m. The readings mark the lowest level since March 13, 2009, when the won was quoted at 1,483.5 won as the country was grappling with the aftermath of the global financial crisis. The won's weakness came as the Donald Trump government was set to announce r
April 1, 2025 -
Seoul shares open higher on bargain hunting
South Korean stocks started higher Tuesday on bargain hunting following a sharp drop the previous session. The benchmark Korea Composite Stock Price Index added 38.96 points, or 1.57 percent, to 2,520.08 in the first 15 minutes of trading. On Monday, the index lost 3 percent to a near two-month low due to concerns over US tariffs plans and the resumption of short selling, which had been banned for more than a year. Overnight, US stocks finished mixed ahead of the Trump administration's announcem
April 1, 2025 -
Kospi tumbles as short selling resumes after 17-month ban
Korean won falls to two-month low as foreign outflows, tariff fears weigh on markets While short selling resumed in South Korea on Monday, the benchmark Kospi plunged below the 2,500 mark. Foreign investors dumped 1.5 trillion won ($1.02 billion) of shares on the Kospi, accelerating the depreciation of the local currency. According to the Korea Exchange, the Kospi closed at 2,481.12, down 76.86 points, or 3 percent, from the previous session. This marked the first time in two months that the ind
March 31, 2025 -
Women in 50s buy up crypto
Male investors in their 30s and 40s account for nearly 40 percent of cryptocurrency investors here, recent data pooled by a local lawmaker showed Sunday. But female investors in their 50s also account for a significant share of high-net-worth individuals in the crypto market. According to data provided by Rep. Cha Gyu-geun of the Rebuilding Korea Party, 15.16 million investors whose age and gender could be verified were registered on five major crypto exchanges here -- Upbit, Bithumb, Coinone, K
March 30, 2025 -
As 'jeonse' fades, young Koreans face a choice: buy on debt or settle for monthly rentals
With middle ground of buying and renting fast shrinking, gap between housing haves and have-nots grows, studies show Jeonse, a system that allows people to rent homes with a lump-sum deposit and no monthly payments, was once the mainstay of home leasing in South Korea. Offering more stability than monthly rentals and a less costly alternative to home ownership, this unique system served as a middle ground between renting and buying. However, with a sharp decline in jeonse contracts in recent yea
March 29, 2025 -
Seoul shares end down nearly 2% amid tariff woes
Seoul shares ended nearly 2 percent lower Friday on foreign selling amid concerns of a widening trade war by the US government. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 49.17 points, or 1.89 percent, to close at 2,557.98. Trade volume was moderate at 507.56 million shares worth 7.07 trillion won ($4.8 billion), with losers far outnumbering winners 728 to 168. Foreigners sold a net 640.59 billion won worth of stocks, offsetting institution
March 28, 2025 -
Seoul shares open lower on US losses amid tariff woes
Seoul shares opened lower Friday, tracking losses on Wall Street, as investors remained cautious over a widening trade war by the US government. The benchmark Korea Composite Stock Price Index fell 42.34 points, or 1.62 percent, to 2,564.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.37 percent, while the tech-heavy Nasdaq composite declined 0.53 percent. US President Donald Trump is set to impose 25 percent tariffs on all imported vehicles from April 2
March 28, 2025 -
Market watchdog orders Hanwha Aerospace to revise share issuance plan
South Korea's financial market watchdog on Thursday ordered Hanwha Aerospace to submit a revised filing after the defence company announced a capital increasing plan worth 3.6 trillion won ($2.46 billion). The order comes a week after Hanwha Aerospace announced the plan, the country's biggest-ever secondary share issue, to boost local and overseas production amid growing demand. That filing "lacked information needed for investors to make rational investment decisions," the Financial Supervisory
March 27, 2025