Seoul shares open sharply lower on US losses

South Korean stocks started sharply lower Thursday tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index dropped 40.73 points, or 1.65 percent, to 2,421.87 in the first 15 minutes of trading. Dragged down by mixed corporate earnings reports and escalating concerns over the Israel-Hamas conflict, the Dow Jones Industrial Average fell 0.98 percent and the tech-heavy Nasdaq Composite dropped 1.62 percent. In Seoul, most shares opened bearish across the board. Mar

Oct. 19, 2023

Seoul shares close nearly flat on US rate-hike woes

South Korean stocks finished almost flat Wednesday as better-than-expected US retail sales data sparked concerns over a further rate hike by the Federal Reserve. The Korean won increased against the US greenback. After choppy trading, the benchmark Korea Composite Stock Price Index inched up 2.43 points, or 0.1 percent, to close at 2,462.6. Trading volume was heavy at 899.4 million shares worth 8.75 trillion won ($6.48 billion), with losers slightly outnumbering gainers 475 to 390. Foreign inves

Oct. 18, 2023

Registration opens for offshore firms' FX trading

South Korea has begun the registration process for offshore financial firms to participate in interbank trades of the Korean won as part of its ongoing efforts to open up the domestic financial market to more foreign investors. Registered foreign institutions, or RFIs, will be able to participate in dollar-won spot exchanges, forex swap exchanges and forward exchanges from January next year, according to the revised Enforcement Decree of the Foreign Exchange Transaction Act that took effect on O

Oct. 18, 2023

Seoul shares open lower on tech, battery slump

South Korean stocks started a tad lower amid Washington's updated exports control on chip exports to China. The benchmark Korea Composite Stock Price Index dropped 6.74 points, or 0.27 percent, to 2,453.43 in the first 15 minutes of trading. On Wall Street, US stocks finished mixed on better-than-expected retail sales data and the US government's latest rules to increase its restrictions on the sale of semiconductors from American companies to China. The Dow Jones Industrial Average ro

Oct. 18, 2023

Seoul shares up nearly 1 pct on eased concerns over Middle East conflict

South Korean stocks jumped nearly 1 percent Tuesday as concerns over the Israel-Hamas conflict eased. The local currency slightly gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 23.93 points, or 0.98 percent, to close at 2,460.17, ending a two-session losing streak. Trading volume was moderate at 500.5 million shares worth 7.6 trillion won ($5.6 billion), with winners beating losers 582 to 281. Foreign purchases led the rally, as offshore investors scoo

Oct. 17, 2023

Seoul shares open higher on US gains

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

Oct. 17, 2023

Seoul shares open lower ahead of earnings season

South Korean stocks started a tad lower Monday as investors took a cautious approach ahead of the earnings season. The benchmark Korea Composite Stock Price Index fell 6.06 points, or 0.25 percent, to 2,450.09 in the first 15 minutes of trading. Most of the major publicly traded companies report their quarterly earnings starting next week, with market heavyweights SK hynix and Samsung Electronics slated for Oct. 26 and Oct. 31, respectively. Battery shares led the decline, with industry leader L

Oct. 16, 2023

Foreigners turn net sellers of S. Korean stocks for 15 sessions

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

Oct. 15, 2023

Seoul shares dip 1 pct on Fed rate hike woes, won sharply slides

South Korean stocks fell by almost 1 percent Friday, as investors moved to lock in profits from recent gains on concerns about high inflation and the Federal Reserve's tightening push. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index shed 23.67 points, or 0.95 percent, to close at 2,456.15, ending a two-day winning streak. Trading volume was a bit slim at 576.69 million shares worth 7.06 trillion won ($5.23 billion), with losers outpacin

Oct. 13, 2023

Seoul shares open lower on rising woes over Fed rate hike speculation

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as investors moved to lock in profits from recent sharp gains on quicker-than-expected US inflation and high bond yields. The benchmark Korea Composite Stock Price Index shed 14.41 points, or 0.58 percent, to 2,465.41 in the first 15 minutes of trading. Overnight, US shares finished lower after the consumer price index rose at a quicker than expected rate of 3.7 percent on-year in September, which raised speculati

Oct. 13, 2023

Seoul shares end higher on tech gains, Fed comments

Seoul shares ended higher Thursday, tracking gains on Wall Street, buoyed by Federal Reserve officials' dovish comments on interest rates and tech gains. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.74 points, or 1.21 percent, to close at 2,479.82. Trading volume was moderate at 505.19 million shares worth 8.79 trillion won ($6.5 billion), with gainers outpacing losers 676 to 201. Institutions bought a net 254.08 billion won worth of sto

Oct. 12, 2023

Seoul shares open higher on US gains

Seoul shares opened higher Thursday, tracking overnight gains on Wall Street, boosted by dovish comments on interest rates by Federal Reserve officials. The benchmark Korea Composite Stock Price Index rose 18.59 points, or 0.8 percent, to 2,468.67 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.2 percent to 33,804.87, and the tech-heavy Nasdaq Composite gained 0.7 percent to 13,659.68. Fed officials said the US central bank doesn't need to keep tighten

Oct. 12, 2023

Seoul shares open higher on US gains after Fed comments

Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, buoyed by dovish comments on interest rates by Federal Reserve officials. The benchmark Korea Composite Stock Price Index rose 44.09 points, or 1.84 percent, to 2,446.67 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.4 percent to 33,739.30, and the tech-heavy Nasdaq Composite gained 0.6 percent to 13,562.84. Traders have expected another rate hike this year due to higher-than-ex

Oct. 11, 2023

Seoul shares end lower amid conflict in Middle East

Seoul shares closed lower Tuesday as investors remain cautious due to the Israel-Palestine conflict. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.15 points, or 0.3 percent, to close at 2,402.58. The Kospi opened higher, tracking gains on Wall Street, boosted by Federal Reserve officials' dovish comments on rates. Trading volume was moderate at 410.31 million shares worth 9.3 trillion won ($6.9 billion), with losers outpacing gainers 626 t

Oct. 10, 2023

Seoul shares open higher on US gains; Israel-Palestine conflict adds uncertainties

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

Oct. 10, 2023

Seoul shares close tad higher ahead of key US jobs data

South Korean stocks closed slightly higher Friday ahead of the US payrolls data release. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 5.13 points, or 0.21 percent, to close at 2,408.73. Trading volume was slim at 284.6 million shares worth 6.36 trillion won ($4.71 billion), with gainers outpacing losers 652 to 220. Foreigners sold off a net 325.4 billion won worth of shares, continuing their selling streak for the 11th consecutive trading d

Oct. 6, 2023

Seoul shares open higher ahead of US jobs data

South Korean stocks opened higher Friday as investors await the US payrolls data, which will give clues for the Federal Reserve's future monetary tightening policy. The benchmark Korea Composite Stock Price Index added 10.86 points, or 0.45 percent, to 2,414.46 in the first 15 minutes of trading. Overnight, all three US indexes slipped as investors were on edge ahead of the release of monthly non-farm payrolls data to be released later in the day, which will be a decisive factor in forecast

Oct. 6, 2023

Seoul shares close tad lower amid mixed US rate outlook

South Korean stocks closed slightly lower Thursday amid a mixed outlook on whether the United States will maintain its monetary tightening policy. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index declined 2.09 points, or 0.09 percent, to close at 2,403.60. Trading volume was moderate at 446.01 million shares worth 8.96 trillion won ($6.64 billion), with losers outpacing gainers 583 to 295. Foreigners and institutions dumped a net 272.1 billion won an

Oct. 5, 2023

Doosan Robotics shares debut at double IPO price

Shares of Doosan Robotics, South Korea’s largest collaborative robot producer under the conglomerate Doosan Group, nearly doubled on Thursday, as the company made its stock market debut. Doosan Robotics closed at 51,400 won ($38.03) per share on Korea's main bourse Kospi, up 97.69 percent from its initial public offering price of 26,000 won. Its market capitalization stood at 3.33 trillion won, ranking in the top 100 stocks on Kospi. Its shares opened at 59,100 won, 127.3 percent hi

Oct. 5, 2023

Seoul shares open higher on Fed rate pause hopes

South Korean stocks rebounded Thursday from a crash the previous day, as weaker-than-expected US jobs data raised hopes that the Federal Reserve may refrain from further rate increases. The benchmark Korea Composite Stock Price Index added 9.08 points, or 0.38 percent, to 2,414.77 in the first 15 minutes of trading. Overnight, US shares rebounded after a slump the previous session thanks to big tech gains, including Tesla, Alphabet, Microsoft and Amazon. Investors hope that the Fed may not go fo

Oct. 5, 2023