Seoul shares close nearly flat ahead of US inflation data

South Korean shares closed a tad lower Thursday, extending their losing streak to a seventh consecutive session as investors awaited important US inflation data. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 1.71 points, or 0.07 percent, to close at 2,540.27. Trade volume was moderate at 740 million shares worth 10.7 trillion won ($8.15 billion), with losers outnumbering gainers 439 to 438. The Kospi had opened in positive terrain, slightly e

Jan. 11, 2024

New trade minister vows to address supply chain risks for chips, batteries

South Korea's new trade minister said Thursday he will make efforts to address supply chain risks of the country's key export goods, including chips and batteries. "Major countries are competitively announcing trade policies with a focus on fostering and protecting their industries amid looming protectionism around the globe," Trade Minister Cheong In-kyo said. "Along with the lingering competition between the US and China, there are many factors that disrupt the supply

Jan. 11, 2024

Seoul shares open nearly flat ahead of BOK rate decision

South Korean shares opened nearly flat Thursday as the country's central bank was set to hold a rate setting meeting later in the day. The benchmark Korea Composite Stock Price Index added 1.16 points, or 0.05 percent, to 2,543.14 in the first 15 minutes of trading. The Bank of Korea was scheduled to hold its monetary policy meeting later in the day, where it was widely expected to keep its key rate frozen for the eighth consecutive time. Investors are also awaiting the release of the US in

Jan. 11, 2024

Seoul stocks extend losing streak to 6th day ahead of US inflation data

South Korean shares closed lower for the sixth consecutive session Wednesday as investors awaited US inflation data. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index dipped 19.26 points, or 0.75 percent, to close at 2,541.98. Trade volume was moderate at 555.7 million shares worth 8.46 trillion won ($6.4 billion), with losers outnumbering gainers 536 to 338. The Kospi stayed in negative terrain throughout the day, tracking overnight losses on

Jan. 10, 2024

Seoul shares open lower on Wall Street losses

South Korean shares opened lower Wednesday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index shed 4.34 points, or 0.17 percent, to 2,556.90 in the first 15 minutes of trading. Overnight, the Dow Jones industrial average lost 0.42 percent while the tech-heavy Nasdaq added 0.09 percent. In Seoul, large caps traded mixed. Market bellwether Samsung Electronics slipped 0.13 percent while No. 2 chipmaker SK hynix lost 0.87 percent. Leading drug maker Celltrion

Jan. 10, 2024

Seoul shares fall for 5th straight day amid extended selling spree by institutions

South Korean shares closed lower Tuesday for a fifth consecutive session as institutions continued their selling spree. The local currency slightly rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 6.58 points, or 0.26 percent, to close at 2,561.24. Trade volume was moderate at 782.4 million shares worth 8.76 trillion won ($6.66 billion), with gainers outpacing loser 573 to 288. The Kospi stayed in positive terrain throughout the session following overnight gains o

Jan. 9, 2024

Seoul shares open higher on Wall Street gains

South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 18.64 points, or 0.73 percent, to 2,586.46 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed up 0.58 percent, while the tech-heavy Nasdaq jumped 2.2 percent. In Seoul, most large caps were trading higher across the board. Market bellwether Samsung Electronics gained 0.26 percent, with No. 2 chipmaker SK hynix surging 1.76 p

Jan. 9, 2024

Busy IPO pipeline expected in 2024

Hopes are high for the initial public offering market this year, backed by big-name deals and bullish market expectations. Though the local IPO market remained sluggish in early 2023 due to deteriorating investor sentiment, it slowly phased out of the slump later in the year as major deals took place, such as those involving energy storage device manufacturer LS Materials and resource recycling company DS Dansuk. Reflecting growing hopes for a turnaround of major economies’ monetary pol

Jan. 8, 2024

Seoul shares down for 4th day ahead of key US economic data releases

Seoul shares ended lower for a fourth straight day Monday as investors sat on the sidelines ahead of the release of major US economic data, which will give clues on the Federal Reserve's monetary policy direction. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.26 points, or 0.4 percent, to close at 2,567.82. Trade volume was slim at 313.6 million shares worth 6.7 trillion won ($5.1 billion), with losers outpacing winners 500 to 358. Instit

Jan. 8, 2024

Seoul shares open higher on tech gains

South Korean stocks opened higher Monday as big-cap technology shares gained ground. The benchmark Korea Composite Stock Price Index gained 9.90 points, or 0.38 percent, to 2,587.98 in the first 15 minutes of trading. Market bellwether Samsung Electronics climbed 0.91 percent, while No. 2 chipmaker SK hynix fell 0.51 percent. Leading battery maker LG Energy Solution added 0.48 percent, while its smaller rival Samsung SDI shed 0.56 percent. IT stocks were bullish, with internet portal operator Na

Jan. 8, 2024

Seoul shares down for 3rd day on dampened hopes for Fed's early rate cuts

Seoul shares ended lower for a third straight day Friday, after robust employment data weighed on expectations for an early rate cut by the Federal Reserve this year. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 8.94 points, or 0.35 percent, to close at 2,578.08. The Kospi has fallen 2.9 percent this week. Trade volume was moderate at 514.78 million shares worth 8.27 trillion won ($6.28 billion), with losers outpacing winners 515 to 343. Overnig

Jan. 5, 2024

Seoul shares down for 2nd day on overdone hope for Fed rate cuts

Seoul shares ended lower for a second straight day Thursday, after the latest Fed minutes indicated interest rates will remain at a high level for some time. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 20.29 points, or 0.78 percent, to close at 2,587.02. Trade volume was moderate at 761.45 million shares worth 8.84 trillion won ($6.8 billion), with losers outpacing winners 614 to 277. Institutions sold a net 800 billion won worth of stocks, out

Jan. 4, 2024

Seoul shares open lower after Fed minutes

Seoul shares opened lower Thursday, following an overnight slump in US stocks, after the latest Fed minutes indicated interest rates will remain at high levels for some time. The benchmark Korea Composite Stock Price Index fell 10.97 points, or 0.42 percent, to 2,596.34 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.8 percent to 37,430.19, and the tech-heavy Nasdaq declined 1.2 percent to 14,592.21. Fed minutes from its December meeting indicated rates cou

Jan. 4, 2024

Seoul shares dip over 2% on profit taking ahead of Fed minutes

South Korean stocks dropped by more than 2 percent Wednesday as investors sought to cash in recent gains ahead of the release of the Federal Reserve's latest minutes. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 62.50 points, or 2.34 percent, to close at 2,607.31, ending its four-day winning streak. Trade volume was moderate at 455.9 million shares worth 9.99 trillion won ($7.65 billion), with losers outpacing winners 610 to 279. Foreigners

Jan. 3, 2024

Seoul shares open lower ahead of Fed minutes

Seoul shares opened lower Wednesday after a mixed close on Wall Street as investors await the release of the Federal Reserve's minutes for clues on the US central bank's future rate plans. The benchmark Korea Composite Stock Price Index fell 31.05 points, or 1.2 percent, to 2,638.76 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average inched up 0.07 percent to 37,715.04, but the tech-heavy Nasdaq fell 1.6 percent to 14,765.94. The Fed's latest minutes ar

Jan. 3, 2024

Seoul shares end higher on tech gains on 1st day of 2024

Seoul shares closed higher Tuesday, the first trading day of the year, helped by tech gains and an improving global appetite for risky assets. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 14.53 points, or 0.55 percent, to close at 2,669.8, extending its winning streak to a fourth day. Trade volume was moderate at 404.2 million shares worth 9.5 trillion won ($7.3 billion), with decliners outpacing gainers 449 to 436. Institutions and foreigners b

Jan. 2, 2024

[Photo News] First trading day of 2024

President Yoon Suk Yeol (center) attends the opening ceremony of the nation’s first stock trading day of the year at the Korean Stock Exchange in Seoul on Tuesday, becoming the first Korean president to do so. From left are Seo Yoo-seok, chairman of the Korea Financial Investment Association; Rep. Yu Eui-dong from the ruling People Power Party; Sohn Byung-doo, chairman of the Korea Exchange; Finance Minister Choi Sang-mok; Financial Services Commission Chairman Kim Joo-hyun; and Lee Bok-

Jan. 2, 2024

Foreigners’ net buying of Samsung hits new high in 2023

Foreign investors snapped up investments in Samsung Electronics last year, net buying more than 16 trillion won ($12.31 billion) worth of shares, buoyed by the expectations of a recovery of the global chip industry. In 2023, foreign investors scooped up a net 16.73 trillion won of shares in Samsung Electronics, the largest amount since related data was compiled from 1999, according to the nation’s sole bourse operator Korea Exchange. It also marked a turnaround from their net selling stanc

Jan. 1, 2024

[Herald Interview] Palliser CIO skeptical of Samsung C&T stock cancellation plan

British activist investor Palliser Capital founder said Samsung C&T’s five-year treasury stock retirement plan won’t be helpful to shore up its stock price, urging swift action to resolve investors’ concerns over its governance structure. “Cancellation of treasury shares has been mischaracterized as a shareholder return by the company,” Palliser Capital founder and Chief Investment Officer James Smith told The Korea Herald in an email interview. “Managemen

Dec. 28, 2023

Seoul shares close slightly higher despite ex-dividend

South Korean stocks finished moderately higher Wednesday on foreign and individual purchases. The local currency rose slightly against the US dollar. Swinging between gains and losses, the benchmark Korea Composite Stock Price Index gained 10.91 points, or 0.42 percent, to close at 2,613.5. Trade volume was higher at 345.9 million shares worth 10.3 trillion won ($7.6 billion), but decliners outnumbered gainers 591 to 300. Foreigners scooped up a net 231.1 billion won worth of local shares and in

Dec. 27, 2023