South Korean stocks opened lower Monday as investors opted to cash in recent gains amid hopes for the Federal Reserve's rate cuts next year. The benchmark Korea Composite Stock Price Index fell 0.60 point, or 0.02 percent, to 2,562.96 in the first 15 minutes of trading. Last week, the Fed kept its rates unchanged and hinted at possible cuts for 2024. Leading tech giant Samsung Electronics fell 0.41 percent, and No. 2 chipmaker SK hynix also lost 0.50 percent. Top carmaker Hyundai Motor also

South Korean stocks closed higher Friday amid expectations the U.S. Federal Reserve will start its rate-cutting cycle in 2024. The local currency inched down against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 19.38 points, or 0.76 percent, to close at 2,563.56. Trade volume was moderate at 458.2 million shares worth 12.7 trillion won ($9.8 billion), with winners outpacing losers 498 to 378. Foreigners bought a net 849.5 billion won, while individuals dumped a net 1.1

South Korean stocks opened higher Friday, tracking overnight gains from Wall Street, as investors remained buoyed by the Federal Reserve's possible rate cuts next year. The benchmark Korea Composite Stock Price Index rose 20.26 points, or 0.8 percent, to 2,564.44 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.43 percent higher, and the tech-heavy Nasdaq Composite added 0.19 percent. In Seoul, leading tech giant Samsung Electronics rose 0.96 percent,

South Korean stocks started a tad higher Wednesday led by gains in tech and financial shares. The benchmark Korea Composite Stock Price Index gained 5.65 points, or 0.23 percent, to 2,499.93 in the first 15 minutes of trading. Overnight, U.S. stocks finished mixed, with the Dow Jones Industrial Average retreating 0.2 percent and the tech-heavy Nasdaq Composite edging up 0.3 percent. In Seoul, chipmakers lent support to the positive opening, with No. 1 Samsung Electronics rising 0.84 percent and

LG group on Friday has kicked off promotional discounts across its affiliated companies in commemoration of its professional baseball team winning its first championship in 29 years, cutting the price in various forms related to the magic number 29. LG Twins, an affiliate of the LG Group, won Game 5 of the Korean Series against KT Wiz on Monday to clinch its first title since 1994. LG Electronics, the flagship corporation of the group, will be giving 29 percent discounts starting 10 a.m., next T

South Korean stocks opened higher Monday as the country launched a temporary ban on stock short selling to crack down on illegal market practices by global investment banks. The benchmark Korea Composite Stock Price Index climbed 48.16 points, or 2.03 percent, to 2,416.50 in the first 15 minutes of trading. On Sunday, the Financial Services Commission announced the ban on stock short selling, effective starting Monday through the end of June 2024, citing concerns about growing market volatility

Revenue increases 7.5 percent, operating profit up 40.1 percent year on year, primarily due to stable increase of production volume at GM JV (Ultium Cells) plant in Ohio, as well as product mix improvement The company to focus on reinforcing product competitiveness across all segments To proactively respond to customer demands, the Arizona battery facility to produce 46-Series cylindrical batteries instead of the originally planned 2170 cells SEOUL, South Korea, Oct. 25, 2023 /PRNewswi

South Korean stocks opened almost flat Wednesday as investors awaited the release of major corporate earnings reports. The benchmark Korea Composite Stock Price Index lost 0.69 points, or 0.03 percent, to 2,382.82 in the first 15 minutes of trading. Overnight, Wall Street ended higher as investors' expectations grew ahead of the release of tech bluechips' earnings reports. The Dow Jones Industrial Average gained 0.62 percent, the tech-heavy Nasdaq composite rose 0.93 percent and the S&

Prolific actor Lee Sun-kyun, who has recently come under police investigation for suspected drug use, is dropping out from his latest project, “No Way Out,” a mystery thriller series that began shooting this month. According to the entertainment industry, the production company notified its actors and staff that shooting would be postponed for two weeks to reorganize the cast. Following the police announcement on Friday concerning the investigation into Lee, staff of “No Way Ou

South Korean stocks got off to a strong start Tuesday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 19.23 points, or 0.79 percent, to 2,455.47 in the first 15 minutes of trading. U.S. stocks closed higher as investors bet on big tech, with the Dow Jones Industrial Average advancing 0.93 percent and the Nasdaq Composite rising 1.2 percent. In Seoul, tech and battery shares led the bullish opening. Top-cap Samsung Electronics added 0.74 percent and i

Foreign investors have dumped South Korean stocks for 15 consecutive trading days, the longest streak logged since 2020, according to the bourse operator Sunday. Foreigners offloaded a net 2.5 trillion won ($1.8 billion) on the benchmark Korea Composite Stock Price Index from Sept. 18 to last Friday, according to the Korea Exchange. Previously, the longest sell-off streak in the Kospi market recorded by foreigners was 30 consecutive trading days from March 5 to April 16 in 2020. During the 15-da

Seoul shares opened higher Tuesday, tracking gains on Wall Street, after Federal Reserve officials made dovish comments on rates, with investors assessing uncertainties over the Israel-Palestine conflict. The benchmark Korea Composite Stock Price Index rose 33.18 points, or 1.38 percent, to 2,441.91 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.6 percent to 33,604,65, and the tech-heavy NASDAQ Composite gained 0.4 percent to 13,484.24. Traders have expect

South Korean stocks started higher Friday as US economic data cemented bets the Federal Reserve will keep its key interest rate unchanged next week. The benchmark Korea Composite Stock Price Index rose 6.78 points, or 0.26 percent, to 2,579.67 in the first 15 minutes of trading. All three US stock indexes rallied Thursday (US time) as strong economic data, including retail sales and producer prices, fueled expectations over a pause in the Fed's rate hike march. Also, the US consumer price i

Seoul shares opened lower Friday, tracking tech losses on Wall Street, amid concerns over China's ban on Apple Inc.'s use. The benchmark Korea Composite Stock Price Index fell 0.07 point to 2,548.19 in the first 15 minutes of trading. China plans to expand its ban on the use of iPhones in government agencies and state-owned companies. The move is expected to deal a blow to global big tech companies that heavily rely on China, analysts said. In Seoul, tech and auto stocks were the lead

LG Uplus Corp., South Korea's No. 3 mobile carrier, said Tuesday its second-quarter net profit rose nearly 32 percent from a year earlier, driven by its robust wireless business. Its net income amounted to 213.3 billion won ($163.3 million) in the April-June period, up 31.7 percent from the year-ago period. Operating profit for the April-June period was 288 billion won, up 15.9 percent from a year ago, the company said in a regulatory filing. Revenue rose 1.3 percent to 3.42 trillion won. T