South Korean stocks snapped their three-day winning streak Wednesday, as investors were spooked by overnight plunges on Wall Street caused by growing concerns about an economic recession. The Korean won tumbled against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 44.1 points, or 1.82 percent, to close at 2,377.99 points. Trading volume was moderate at about 411 million shares worth some 7.7 trillion won ($5.9 billion), with losers outnumbering gainers 511 to 336. I

Analysts cite high inflation, fears of recession and Russia-Ukraine war as negative factors that would continue to weigh on the Kospi in H2

Inflation expectations in South Korea hit the highest level in about 10 years in June amid worries that prices are fast increasing due to high energy and commodity costs, a central bank report showed Wednesday. Ordinary people expected consumer prices to rise 3.9 percent over the next year, the fastest pace since April 2012, according to the report from the Bank of Korea (BOK). The June figure was also higher than a 3.3 percent rise predicted the previous month. Data on expected inflation is clo

South Korean stocks opened sharply lower Wednesday, tracking an overnight Wall Street plunge amid growing fears of economic recession. The benchmark Korea Composite Stock Price Index (KOSPI) fell 32.67 points, or 1.35 percent, to trade at 2,389.42 in the first 15 minutes of trading. Overnight, Wall Street tumbled amid bleaker-than-expected economic indicators that added to investor jitters over a possible recession. The Dow Jones Industrial Average dipped 1.56 percent, while tech-heavy Nasdaq co

Seoul shares ended higher Tuesday to extend their winning streak to a third day as auto and technology stocks advanced on bargain hunting, with investors keeping an eye on upcoming U.S. economic data and Federal Reserve policy. The local currency rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 20.17 points, or 0.84 percent, to close at 2,422.09. Trading volume was moderate at 555.34 million shares worth 7.03 trillion won ($5.4 billion), with gainers outpacing decli

Seoul shares opened higher Tuesday, bucking overnight losses on Wall Street, with investors remaining concerned about higher interest rates and a slowdown in the global economy. The Korea Composite Stock Price Index (KOSPI) rose 6.04 points, or 0.25 percent, to 2,407.96 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.2 percent to 31,438.26 points and the tech-heavy Nasdaq shed 0.7 percent to 11,524.55 points. Auto, airline and refiner stocks were lead gaine

Seoul shares ended higher for the second straight session Monday, as investors speculate the pace of the Federal Reserve's rate hikes could be slower than expected amid global recession woes. The local currency sharply rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 35.32 points, or 1.49 percent, to close at 2,401.92. On Friday, the KOSPI rebounded 2.3 percent to 2,366.60 after marking a 19-month low a session earlier. Trading volume was moderate at 501.09 mil

Risks stemming from South Korea’s investor debt binge is a key reason behind the local benchmark stock index’s recent lackluster performance, analysts said Monday. This fueled concerns of a possible market crash as the US Federal Reserve’s aggressive rate hikes have been increasing debt burden on retail investors. “Following the outbreak of the COVID-19 pandemic, Korea saw a sharp gain in household and corporate debt,” Heo Jae-hwan, an analyst at Eugene Investment

Seoul shares opened higher Monday, tracking gains on Wall Street last week, with investors staying cautious about high inflation and further rate hikes. The Korea Composite Stock Price Index (KOSPI) rose 10.35 points, or 0.44 percent, to 2,376.95 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average rose 2.7 percent to 31,500.68 points and the tech-heavy Nasdaq climbed 3.3 percent to 11,607.62 points. In Seoul, technology stocks were lead gainers. Market bellwether Sams

South Korea’s key stock index and its secondary bourse both saw the biggest drop among 40 global indexes, including inflation-hit Argentina’s Merval S&P, data showed Sunday, prompting concerns of a possible market crash. From the end of last month to Friday, the nation’s main bourse, Kospi, fell 11.89 percent from 2,685.90 to 2,366.60, while the secondary, tech-heavy Kosdaq dropped 15.01 percent from 893.36 to 750.30, according to data from the nation’s sole bourse

South Korean stocks rebounded sharply on Friday from a 19-month low the previous session amid growing concerns about a recession. The local currency rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) spiked 52.28 points, or 2.26 percent, to close at 2,366.60. Trading volume was moderate at 643.76 million shares worth 8.32 trillion won ($6.41 billion), with gainers far outpacing decliners 875 to 44. Institutions bought a net 640 billion won, while foreign and retail investo

Seoul shares opened higher Friday after the market plunged to a 19-month low the previous session amid growing concerns about a recession. The Korea Composite Stock Price Index (KOSPI) rose 11.80 points, or 0.51 percent, to 2,326.12 in the first 15 minutes of trading. Overnight, the US stock market inched up on the second day of Federal Reserve Chair Jerome Powell's testimony before Congress, during which he reaffirmed the central bank's commitment to bringing down high-flying inflatio

The South Korean won slipped below 1,300 per US dollar for the first time in 13 years in onshore spot trading Thursday, breaching the key psychological threshold as recession worries boosted the dollar’s safe-haven appeal. The won weakened 0.35 percent from the previous session to 1,301.8 per dollar, the lowest close since July 14, 2009, when the won slid to 1,303 during onshore trading hours. The 1,300 mark, last seen in the wake of the 2007-2008 financial crisis, is considered a red fla

South Korean stocks fell again Thursday, as investors avoided risky assets amid monetary tightening and recession fears. The local currency fell to the lowest point against the US dollar in almost 13 years. After choppy trading, the Korea Composite Stock Price Index (KOSPI) dropped 28.49 points, or 1.22 percent, to close at 2,314.32, after falling to as low as 2,306.48. Trading volume was moderate at 729.97 million shares worth 9.98 trillion won ($7.67 billion), with decliners far outpacing gain

Seoul shares opened slightly higher Thursday after another market rout the previous session amid growing woes over an economic slowdown. The Korea Composite Stock Price Index (KOSPI) rose 4.67 points, or 0.2 percent, to 2,327.68 in the first 15 minutes of trading. Overnight, Wall Street closed lower after Federal Reserve Chair Jerome Powell acknowledged the central bank's aggressive rate hikes could cause an economic downturn. The US central bank raised its policy rate by 0.75 percentage po