Seoul stocks open higher despite US losses

South Korean stocks opened higher Friday despite losses on Wall Street as foreigners scooped up large-cap shares. The benchmark Korea Composite Stock Price Index rose 6.48 points, or 0.27 percent, to 2,393.33 in the first 15 minutes of trading.On Thursday (local time), the S&P shed 0.24 percent and the Nasdaq Composite Index also lost 0.4 percent due to losses for energy and technology companies Most large caps on the Seoul bourse opened higher, with tech shares leading the gain. Market bell

Aug. 4, 2017

Stock market shows marked polarization in cap

South Korea's bourse has seen both big-cap and small-cap companies rise considerably this year, pointing to a marked polarization in terms of market capitalization, data showed Friday.Companies with a market value of 1 trillion won ($890 million) or more numbered 200 as of Thursday, up 17 from a year earlier, according to the data by the bourse operator Korea Exchange. Of the total, top-cap Samsung Electronics Co. and 34 other companies saw their market capitalization hover above the 10 trillion

Aug. 4, 2017

Kakao Bank outperforms K bank, addresses liquidity issues

More than 1.5 million bank accounts were created through Kakao Bank in its first week of operation, while the bank Thursday unveiled plans to address questions about its financial liquidity. As of 7 a.m. Thursday, the second branchless bank in South Korea had nearly 1.52 million accounts created, while drawing 653 billion won ($579.2 million) in deposits and savings and extending 497 billion won in loans, according to the bank. It began service at 7 a.m. on July 27. This is far-reaching compared

Aug. 3, 2017

Seoul stocks tumble 2 pct amid uncertainties

South Korean stocks fell nearly 2 percent Thursday to snap a three-day winning streak as foreign investors sold off large-cap shares amid heightened geopolitical uncertainties at both home and abroad, analysts said. The Korean won lost ground against the US dollar. The benchmark Korea Composite Stock Price Index retreated 40.78 points, or 1.68 percent, to close at 2,368.85.Trade volume was modest at 299.95 million shares worth 6.2 trillion won ($5.9 billion), with losers far outnumbering gainers

Aug. 3, 2017

Seoul stocks open lower on tech losses

South Korean stocks opened lower early Thursdays due to losses by large-cap technology shares.The benchmark Korea Composite Stock Price Index fell 20.74 points, or 0.85 percent, to 2,398.32 in the first 15 minutes of trading. Tech shares mostly lost ground, with market kingpin Samsung Electronics moving down 1.92 percent and the country's No. 2 chipmaker SK hynix shedding 2.5 percent. LG Display also surrendered 2.19 percent. Auto shares also moved in negative terrain, with industry leader Hyund

Aug. 3, 2017

Ministry unveils tough measures to calm overheating housing market

South Korea unveiled Wednesday a tighter set of real estate market rules aimed at taming speculation and deterring the rise of housing prices in what is considered to be the strongest set of measures in nearly six years. Starting Thursday, the capital Seoul, the administrative city Sejong and Gwacheon will be named “overheated speculative districts,” with the loan limits of those buying homes there to be tightened to 40 percent of their property value from the current 60 percent, acc

Aug. 2, 2017

Seoul stocks end higher on foreign buying

South Korean stocks closed higher Wednesday as foreign buyers scooped up large-cap tech and telecom shares, offsetting a massive selling spree by institutional investors. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 4.67 points, or 0.19 percent, to close at 2,427.63. Trade volume was low at 258 million shares worth 5.2 trillion won ($5 billion), with gainers outnumbering losers 461 to 341.Foreign investors reversed a seven-day selling streak

Aug. 2, 2017

Seoul shares up in late morning on Wall Street gains

South Korean stocks traded higher late Wednesday morning as foreign investors scooped up large-cap tech and telecom shares, tracking overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index gained 4.77 points, or 0.2 percent, to 2,427.73 as of 11:20 a.m.On Tuesday (local time), the US Dow Jones industrial average climbed 0.33 percent toward a fresh record and the S&P rose 0.24 percent. The Nasdaq Composite Index also gained 0.23 percent. Most large caps traded mixe

Aug. 2, 2017

Seoul shares open higher on tech shares

South Korean stocks opened higher on Wednesday, largely helped by bullish tech caps.The benchmark Korea Composite Stock Price Index gained 4.34 points, or 0.18 percent, to reach 2,427.30 in the first 15 minutes of trading.  Performance of large-cap stocks were mixed, with tech shares pushing the bourse up.Market behemoth Samsung Electronics added 0.9 percent and global chipmaker SK hynix jumped 2.9 percent.The local currency was trading at 1,122.1 won against the US dollar, down 0.8 won fro

Aug. 2, 2017

Individuals lose money in stock market in July

Despite a bullish stock market, retail investors lost big in their equity investments in July, data showed Wednesday, due to insufficient strategy and information.The top 20 stocks purchased by individuals tumbled 6.11 percent on average last month, according to the data compiled by market tracker FnGuide.In contrast, their 20 most sold stocks generated an average return of 8.07 percent, far higher than the 1.02 percent on-month gain in the benchmark Korea Composite Stock Price Index.Driven by s

Aug. 2, 2017

UK biggest foreign stock trader in Kospi

Investors from the United Kingdom traded the largest volume of stocks in terms of value on South Korean markets, beating out investors from other countries in May and June, data from the Financial Supervisory Service showed Tuesday.In June, UK buyers engaged in trading stocks worth 25.8 trillion won ($23.1 billion), accounting for 33.1 percent of the entire offshore stock trading on the first-tier market. UK investors bought Kospi shares worth 12.93 trillion won and sold 12.89 trillion won.The U

Aug. 1, 2017

Seoul stocks end higher on improved investor sentiment

South Korean stocks closed higher Tuesday on the back of improved investor sentiment despite growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 20.25 points, or 0.84 percent, to close at 2,422.96. Trade volume was slim at 259 million shares worth 5.5 trillion won ($5.1 billion), with gainers far outnumbering losers 608 to 204.Analysts sai

Aug. 1, 2017

BNP Paribas Cardif Life appoints Benoit Meslet as CEO

BNP Paribas Cardif Life Insurance in Korea announced Tuesday that its board members have appointed Benoit Meslet as the company’s new representative director and CEO, succeeding former head Jean-Christophe Darbes. 　Officially starting his post Tuesday, Meslet has more than 15 years of experience in the financial services and insurance industries, including an extensive background in product development across Asia. 　Prior to joining BNP Paribas Cardif, he worked as the chief transformation

Aug. 1, 2017

Allianz Life renamed ABL Life, revamps digital platforms

　Allianz Life has officially been renamed ABL Life Insurance Co., it announced Tuesday. 　According to the new ABL Life, the revised corporate name represents its strong ties and association with the company’s major shareholder Anbang Insurance Group, and reflects its vision, “With you for a better life.” 　ABL Life also announced it will revitalize its portfolio of advanced digital products and smart services. The company said it will focus on establishing a digital environment

Aug. 1, 2017

Korean shares up on institutional buying

South Korean shares move up late Tuesday morning, paring earlier losses, helped by a buying-spree by institutions.The benchmark Korea Composite Stock Price Index rose 23.94 points, or 1 percent, to 2,462.65 as of 11:20 a.m. The broad index started lower, but soon turned positive as institutional buyers scooped up market heavyweights.Most large caps traded in positive terrain with market kingpin Samsung Electronics adding 0.36 percent and SK hynix, a major chipmaker, moving up 0.3 percent. Leadin

Aug. 1, 2017

Seoul stocks open lower on tech losses

South Korean stocks opened lower early Tuesday due to losses by technology companies, such as market kingpin Samsung Electronics, analysts said.The benchmark Korea Composite Stock Price Index fell 4.89 points, or 0.18 percent, to 2,398.32 in the first 15 minutes of trading. Tech shares mostly lost ground, with Samsung Electronics moving down 1.2 percent and No. 2 chipmaker SK hynix shedding 1.36 percent. LG Display also surrendered 0.79 percent. Auto shares, meanwhile, were in positive terrain,

Aug. 1, 2017

Britons most active traders of Korean stocks in June

British investors were most active stock traders among foreigners in South Korea in June, with Americans holding the largest amount of local shares, the financial watchdog said Tuesday.The value of local stocks traded by offshore investors came to slightly upwards of 78 trillion won ($69.7 billion) in June, accounting for nearly 30 percent of the total market turnover, according to data by the Financial Supervisory Service.Turnover by British investors stood at 25.8 trillion won that month, taki

Aug. 1, 2017

Institutions log massive net stock buying in July

South Korean institutional investors loaded up on stocks in the final sessions of July, helping the local stock market keep its bullish run, data showed Tuesday.In a turnaround from their net selling position, local institutions turned net buyers in the final four days of last month, purchasing a net 1.78 trillion won ($1.59 billion) for all of the month, according to the data by the bourse operator Korea Exchange.Institutional investors had been net sellers till last Tuesday.In contrast, foreig

Aug. 1, 2017

Is Korea’s stock market seeing end to tech run?

South Korea’s main bourse index on Monday saw a recovery from Friday’s drop of 1.73 percent, the largest in nearly 13 months.The Kospi edged up 0.07 percent from Friday to close at 2,402.71 on Monday. Tech giants Samsung Electronics and SK hynix rose 0.92 percent and 2.17 percent, slight recoveries compared to slides of 4.1 percent and 5.56 percent, respectively, Friday.While viewing Friday’s plunge of the Kospi as “short-term noise,” local analysts said time is rip

July 31, 2017

S. Korean stocks close mildly higher amid N. Korean tensions

South Korean stocks finished slightly higher Monday with institutions going on a buying spree as foreign and individual investors dumped local shares to lock in recent gains, amid growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index edged up 1.72 points, or 0.07 percent, to close at 2,402.71. Trade volume was modest at 273.94 million shares worth 5.

July 31, 2017