The Korea Herald

Korean stocks down late Thursday morning

Jul 7, 2017

South Korean stocks traded lower late Friday morning, as investors opted to cash in recent gains. Samsung, the top cap here, slid after reporting its all-time high earnings for the second quarter. The benchmark Korea Composite Stock Price Index shed 5.30 points, or 0.22 percent, to 2,382.51 as of 11:15 a.m. Market kingpin Samsung Electronics fell 0.04 percent, while SK hynix, a major chipmaker,...
Stocks open lower on overnight US losses

Jul 7, 2017

South Korean stocks opened lower Friday taking a cue from overnight losses on Wall Street, although Samsung Electronics, the country's top market cap, delivered market forecast-beating earnings for the second quarter. The benchmark Korea Composite Stock Price Index shed 5.15 points, or 0.22 percent, to 2,382.66 in the first 15 minutes of trading. Market kingpin Samsung Electronics fell 0.66 per...
Securities firms to venture into short-term credit business

Jul 6, 2017

South Korea’s five largest securities firms in net worth are expected to submit applications to start short-term financing businesses Friday. The firms -- Mirae Asset Daewoo, NH Investment & Securities, KB Securities, Samsung Securities and Korea Investment & Securities -- are planning to apply for eligibility reviews to start financing businesses from the third quarter of this year, according t...
Seoul stocks almost flat ahead of Samsung's earnings guidance

Jul 6, 2017

South Korean stocks finished almost flat Thursday, as investors took to the sidelines ahead of Samsung Electronics's earnings guidance for the second quarter and on a sharp fall in global oil prices, analysts said. The Korean won fell against the US dollar. After a choppy session, the benchmark Korea Composite Stock Price Index edged up 0.54 point, or 0.02 percent, to close at 2,387.81. Trade v...
Individuals shy away from bullish market led by large cap stocks: data

Jul 6, 2017

South Korea's retail investors are generally staying away from the local bourses, industry data showed Thursday, as foreigners and institutions pushed up stocks to record highs in recent months backed by improving corporate earnings and resilient exports. The KOSPI main bourse has risen 18 percent in the first six months this year, while the tech-heavy KOSDAQ market posted a 6 percent jump durin...
Stocks open slightly higher on Samsung, SK hynix

Jul 6, 2017

South Korean stocks opened slightly higher on Thursday as investors are increasingly focused on corporate earnings. Samsung Electronics, the country's top market cap, is set to release its second quarter earnings guidance later this week. The benchmark Korea Composite Stock Price Index rose 1.25 points, or 0.05 percent, to 2,389.60 in the first 15 minutes of trading. Market kingpin Samsung Elec...
Moody’s maintains Korea’s credit rating at Aa2

Jul 5, 2017

Moody’s Investors Service has maintained South Korea’s credit rating at Aa2, a high quality and low risk rating, according to the Ministry of Strategy and Finance on Wednesday. It also raised the country’s 2017 growth outlook to 2.8 percent from 2.5 percent. Moody accredited the country’s “very high” assessment based on economy size, diversity and competitiveness, which it credits as helping th...
Market rebounds after North Korea risk shock

Jul 5, 2017

South Korea’s main stock market rebounded Wednesday from a brief retreat after North Korea’s missile launch, but the foreign selling trend continued a second day. The benchmark Korea Composite Stock Market Index rose 0.33 percent to close at 2,388.35 on Wednesday, after a 0.58 percent loss the previous day, the third-largest since May. Foreign investors net sold 8.9 billion won ($7.7 million)...
Seoul stocks rebound on Samsung, SK hynix

Jul 5, 2017

South Korean stocks rebounded on Wednesday from a brief dip in the previous session, as investors brushed off geopolitical woes stemming from North Korea's missile launch, analysts said. The Korean won rose against the U.S. dollar. After a choppy session, the benchmark Korea Composite Stock Price Index rose 7.83 points, or 0.33 percent, to close at 2,388.35. Trade volume was moderate at 329 mil...
Stocks open slightly lower on geopolitical risk, profit-taking

Jul 5, 2017

South Korean stocks opened slightly lower Wednesday, as risk-off sentiment took hold amid geopolitical tensions stemming from North Korea's intercontinental ballistic missile launch. The benchmark Korea Composite Stock Price Index fell 1.39 points, or 0.06 percent, to 2,379.13 in the first 15 minutes of trading. Market kingpin Samsung Electronics shed 0.21 percent, and SK hynix was 0.15 percent...
Banks' loan delinquency rate edges up in May

Jul 5, 2017

The delinquency rate of South Korean banks' won-denominated loans edged up in May from a month earlier due to a slight rise in non-performing loans, government data showed Wednesday. The rate for bank loans more than 30 days overdue stood at 0.58 percent at the end of May, up from 0.54 percent at the end of April, according to the data by the Financial Supervisory Service. Compared to a year ag...
Government to announce new fiscal blueprint this month

Jul 4, 2017

The Moon Jae-in administration’s new comprehensive macroeconomic blueprint will be announced later this month, according to Finance Minister Kim Dong-yeon on Tuesday. “The president, along with other officials, will hold a meeting to discuss the government‘s fiscal policies and strategies over the next five years sometime mid-July,” said the finance minister, during a policy meeting in Seoul wi...
BOK to brace for global tightening

Jul 4, 2017

Emerging markets should brace for signs of monetary policy shifts in developed nations, and South Korea will remain vigilant to such signs that are moving toward ending a decade of fiscal stimulus, Bank of Korea Gov. Lee Ju-yeol said Tuesday. “The massive amount of cash flow into global financial markets will be on the decrease at any rate,” Lee said, while presiding over a conference on economi...
Seoul stocks dip amid rising geopolitical tension

Jul 4, 2017

South Korean stocks finished sharply lower Tuesday, as investors remained wary of rising geopolitical tension stemming from North Korea's missile launch, analysts said. The Korean won fell against the US dollar. After a choppy session, the benchmark Korea Composite Stock Price Index shed 13.96 points, or 0.58 percent, to close at 2,380.52 as uncertainties surrounding North Korea caused investors...
Korean stocks almost flat late Tuesday morning

Jul 4, 2017

Korean stocks traded almost flat late Tuesday morning, as top market cap Samsung Electronics and No. 2 SK hynix attempted to rebound amid heavy losses by automakers. The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.72 points, or 0.07 percent, to 2,392.76 as of 11:15 a.m. Market kingpin Samsung Electronics rose 0.04 percent, and SK hynix, a major chipmaker, remained unchanged. In...