South Korean stocks hit another fresh record high Friday on recovery hopes despite soaring new coronavirus cases. The Korean won surged to an over 29-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.54 points, or 0.29 percent, to close at 2,633.45. Trading volume was moderate at about 1.2 billion shares worth some 12.4 trillion won ($11.2 billion), with gainers outnumbering losers 488 to 332. Foreigners bought a net 77 billion won, and retail in

South Korean stocks opened nearly flat Friday after the benchmark index hit an all-time high the previous session amid the soaring new coronavirus cases.  The Korea Composite Stock Price Index rose 0.37 point, or 0.01 percent, to 2,626.28 in the first 15 minutes of trading. Stocks got off to a muted start, as soaring COVID-19 cases and valuation pressure left investors questioning the index's short-term peak.   Large caps traded mixed in Seoul. Market behemoth Samsung Electr

South Korean President Moon Jae-in greeted Chinese Foreign Minister Wang Yi at Cheong Wa Dae on Thursday and stressed that his administration won't cease the drive for lasting peace on the peninsula. "Our government will not stop efforts to put a (formal) end to war on the Korean Peninsula and achieve complete denuclearization and permanent peace together with the international community, including China," Moon told Wang at the start of their meeting, which pool reporters were allowed

South Korean stocks closed at a fresh all-time high Thursday as the central bank's revised growth forecast boosted investor sentiment, despite an eight-month high in daily virus cases here. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 24.37 points, or 0.94 percent, to close at 2,625.91 points. Trading volume was moderate at about 1.4 billion shares worth some 12.5 trillion won ($11.3 billion), with gainers outnumbering losers 433 to 3

Korea Investment Management, a fund operating under Korea Investment Holdings, has launched its first Vietnam leverage exchange-traded fund on South Korea’s main bourse, the Kospi, on expectations of a rally in Vietnamese stocks, the company said Thursday. The KINDEX Vietnam VN30 Futures Leverage (H) ETF tracks VN30 Futures. Launched in 2017, VN30 Futures are the Southeast Asian country’s first tradable stock index futures.　 It uses the Bloomberg VN30 Futures index to provide inves

CU provided details Thursday on plans to allow foreign currency exchange at its convenience stores early next year. BGF Retail, the operator of the convenience store brand, has signed a partnership with a local fintech startup U Fintech Hub, which provides a small overseas remittance service, in a step to launch foreign currency exchange service at its local branches, they said. Under the deal, the retail giant will receive technical support from the fintech firm to develop the service platf

South Korean stocks opened slightly lower Thursday, taking a cue from overnight losses on Wall Street over disappointing US economic indices. The benchmark Korea Composite Stock Price Index fell 0.94 point, or 0.04 percent, to 2,600.6 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average retreated 0.58 percent to 29,872.47 points on an increase in weekly US jobless data, weakening hopes for a quick recovery from the pandemic. The Nasdaq composite gained 0.48 percent,

Customs chief says Korean companies can gain competitive edge on global stage via certification

The recent spate of records in South Korea’s stock market on hopes of a global coronavirus containment has brought the market capitalization of the 10 largest business groups’ listed affiliates to fresh highs, data showed Wednesday. As of Monday, the market cap of all 102 listed affiliates of the 10 largest business groups came to 1,069 trillion won ($964.3 billion), topping 1,000 trillion won for the first time in history, according to data from financial market tracker FnGuide.

South Korean midsized automotive parts maker Myoung Shin Industry said Wednesday it is looking to raise as much as 91.2 billion won ($82.3 million) from its initial public offering on the nation’s benchmark Kospi early next month. “We are looking forward to raise our overseas sales from the current 30 percent to 70 percent to become the No. 1 global green car automotive parts maker,” said Park Bong-kun, president of the company to be listed as Myoung Shin Ind., in a press bri

South Korean stocks ended a five-session winning streak Wednesday after hitting an all-time high the previous session, as investors dumped local stocks to lock in gains. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.22 points, or 0.62 percent, to close at 2,601.54. Trading volume was high at about 1.4 billion shares worth some 21.3 trillion won ($19.2 billion), with losers outnumbering gainers 653 to 210. Foreigners sold a net 135

South Korean stocks opened higher Wednesday, taking a cue from record gains on Wall Street, as US political uncertainty receded with U.S. President-elect Joe Biden starting his White House transition. The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.11 points, or 0.65 percent, to 2,634.87 in the first 15 minutes of trading. Also, investor sentiment ran high in the global financial markets, amid growing optimism that continued progress in COVID-19 vaccine development and transit

Listed firms of South Korea's top 10 business groups saw their market capitalization jump nearly 22 percent this year amid a strong stock market rally, data showed Wednesday. The combined market value of those 102 listed firms came to 1,069.5 trillion won ($960 billion) as of Monday, up 22.3 percent from the end of last year, according to the data from financial information provider FnGuide. Four groups -- Samsung, SK, LG and Hyundai Motor -- had a market value of more than 100 trillion won. T

South Korean stocks extended their winning streak to a fifth day, finishing at an all-time high Tuesday on hopes of an economic recovery and new coronavirus vaccine development. The Korean won fell against the US dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.17 points, or 0.58 percent, to close at 2,617.76. Trading volume was high at about 1.3 billion shares worth some 16.6 trillion won ($14.9 billion), with gainers outnumbering losers 528 to 299. Foreigne

Korean benchmark logs 2nd highest stock growth among G-20 bourses in 2020