Stock market reform plan aims to tighten delisting rules

South Korea’s financial authorities are streamlining delisting processes and expanding mandatory holding commitments for institutional investors to curb market distortion from short-term trading in initial public offerings. A set of reforms was announced at a seminar on stock market listing and delisting held Tuesday in Seoul by the Financial Services Commission, Financial Supervisory Service, Korea Exchange, Korea Financial Investment Association and Capital Market Institute. The reforms were i

Jan. 21, 2025

Seoul shares retreat for 2nd day ahead of Trump's inauguration

South Korean stocks closed marginally lower for the second consecutive day Monday as the upcoming inauguration of new US President Donald Trump weighed on investor sentiment here. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 3.5 points, or 0.14 percent, to close at 2,520.05, following a 0.16 percent drop on Friday. Trade volume was moderate at 429.8 million shares worth 8.5 trillion won ($5.86 billion), with decliners outnumbering winners 488 to

Jan. 20, 2025

Seoul shares start higher ahead of Trump inauguration

South Korean stocks opened a tad higher Monday ahead of the inauguration of US President Donald Trump. The benchmark Korea Composite Stock Price Index added 10.8 points, or 0.43 percent, to 2,534.35 in the first 15 minutes of trading. Trump is set to take office later in the day for his second four-year term with his inauguration ceremony in Washington, D.C. He has warned of protectionist trade policies, including higher tariffs, after his inauguration. In Seoul, major shares started in mixed te

Jan. 20, 2025

Seoul shares soar over 1% on US inflation slowdown

Seoul shares finished over 1 percent higher Thursday as big-cap tech shares advanced on foreign buying driven by cooler-than-expected US inflation data. The local currency gained against the greenback. The benchmark Korea Composite Stock Price Index added 30.68 points, or 1.23 percent, to close at 2,527.49. Trade volume was moderate at 436.3 million shares worth 9.02 trillion won ($6.2 billion), with winners outnumbering losers 596 to 281. Foreigners bagged in 498.2 billion won worth local share

Jan. 16, 2025

Seoul shares open higher on US gains

Seoul shares opened higher Thursday, tracking an overnight rally on Wall Street, while investors waited for the outcome of the South Korean central bank's first rate decision meeting this year. The benchmark Korea Composite Stock Price Index rose 29.88 points, or 1.2 percent, to 2,526.69 in the first 15 minutes of trading. Overnight, major US indexes rallied as blue chip tech shares gained ground, backed by signs of slowing inflation in the latest consumer price index, which reinforced bets the

Jan. 16, 2025

Seoul shares open higher on techs, shipbuilders

Seoul shares opened higher Wednesday on gains in techs and shipbuilders, with investors awaiting key US inflation data this week. The benchmark Korea Composite Stock Price Index rose 22.75 points, or 0.91 percent, to 2,520.15 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.52 percent to 42,518.28 points, while the tech-heavy Nasdaq fell 0.23 percent to 19,044.39 points. All eyes are now on the US consumer price index report due later in the day, which may p

Jan. 15, 2025

Seoul shares end higher amid rate woes

Seoul shares closed higher Tuesday helped by retail buying, with investors trimming bets on the US Federal Reserve's rate cuts amid a resilient US economy. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 7.84 points, or 0.31 percent, to close at 2,497.40, snapping a second-session losing streak. Trade volume was moderate at 406.24 million shares worth 8 trillion won ($5.46 billion), with gainers outnumbering losers 509 to 363. Overnight, US stocks

Jan. 14, 2025

Seoul shares open higher on techs, shipbuilders

Seoul shares opened higher Tuesday after a mixed close on Wall Street, helped by gains in techs and shipbuilders. The benchmark Korea Composite Stock Price Index rose 7.98 points, or 0.32 percent, to 2,497.54 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.86 percent to 42,297.12 points, while the tech-heavy Nasdaq fell 0.38 percent to 19,088.10 points. In Seoul, market bellwether Samsung Electronics rose 0.18 percent, No. 2 chipmaker SK hynix climbed 0.2 p

Jan. 14, 2025

Capital Group becomes second-largest shareholder in KB, Hana

Global asset manager Capital Group is rapidly increasing its holdings in South Korea’s leading financial institutions, positioning itself as the second-largest shareholder in both KB Financial Group and Hana Financial Group. In a filing Friday with South Korea’s Financial Services Commission via the Dart system, Capital Group disclosed that it had purchased 3.22 million shares of KB Financial between Nov. 29 and Dec. 31, raising its stake from 7.24 percent to 8.06 percent. The acquisition makes

Jan. 12, 2025

Seoul shares snap 5-day rise on profit taking

South Korean stocks ended a five-day winning streak Friday as investors moved to lock in profits from recent gains mainly in tech shares. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 6.12 points, or 0.24 percent, to close at 2,515.78. Trade volume was moderate at 365.58 million shares worth 9.43 trillion won ($6.43 billion), with winners outnumbering losers 462 to 406. The index opened higher and had moved within a tight range before turning

Jan. 10, 2025

Seoul shares open slightly higher on chip gains

South Korean stocks opened a tad higher Friday on gains of semiconductor and auto shares. The benchmark Korea Composite Stock Price Index added 1.43 points, or 0.06 percent, to 2,523.33 in the first 15 minutes of trading. Foreign and retail investors purchased shares, offsetting institutional selling. Market bellwether Samsung Electronics rose 0.18 percent, and chip giant SK hynix surged 2.68 percent. Top automaker Hyundai Motor soared 2.82 percent, and its sister affiliate Kia advanced 1.36 per

Jan. 10, 2025

Share buyback surges by W10tr in 2024: KRX

Korea Exchange reassures Corporate Value-up push is on track Under the South Korean government’s push to boost corporate value, listed companies bought back shares worth 18.8 trillion won ($12.9 billion) last year, marking an over 10 trillion won on-year surge, according to the country’s bourse operator, Korea Exchange, Thursday. In February, the country launched the Corporate Value-up Program, aiming to boost the capacities of listed companies and tackle the persistent undervaluation of its sto

Jan. 9, 2025

Seoul shares rise for 4th session on Samsung, tech gains

South Korean stocks rose more than 1 percent Wednesday, driven by advances in top-cap Samsung Electronics and other tech shares. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 28.95 points, or 1.16 percent, to close at 2,521.05, extending the winning streak to a fourth session. Trade volume was moderate at 356.27 million shares worth 10.24 trillion won ($7.03 billion), with winners outnumbering losers 459 to 407. The index opened lower, track

Jan. 8, 2025

Seoul shares open higher despite Wall Street losses

South Korean stocks opened higher Wednesday, despite Wall Street losses, on gains of tech and pharmaceuticals. The benchmark Korea Composite Stock Price Index added 10.71 points, or 0.43 percent, to 2,502.81 in the first 15 minutes of trading. Retailers were in a buying mode, while foreign and institutional investors offloaded local shares. Overnight, the Dow Jones Industrial Average lost 0.4 percent, and the tech-heavy Nasdaq composite sank 1.9 percent, as better-than-expected job market data r

Jan. 8, 2025

Korean shares rebound to leave behind worst year ever

Foreign investors keep net-purchasing streak despite disappointment over chip stocks Korean shares gained on Tuesday with the benchmark Kospi briefly recovering to the 2500-point level to reverse sharp losses induced by political turmoil late last year as foreign investors maintained their net buying spree. According to the Korea Exchange, foreigners net purchased 419.9 billion won ($390 million) on Kospi in four trading days this year, continuing their net buying streak for three consecutive da

Jan. 7, 2025