Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Seoul stocks end lower on lingering recession woes
Seoul stocks closed slightly down Friday as traders took a wait-and-see stance amid persistent uncertainties over monetary tightening and the global economic outlook. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 3.47 points, or 0.14 percent, to close at 2,437.86. Trading volume was light at 430.8 million shares worth 5.98 trillion won ($4.51 billion), with gainers slightly outnumbering losers 445 to 398. Foreign and institutional investors bough
Nov. 25, 2022
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Seoul shares open lower amid lingering recession concerns
Seoul shares opened lower Friday, as traders took a wait-and-see stance amid persistent uncertainties over monetary tightening and global economic outlook. The benchmark Korea Composite Stock Price Index shed 6.5 points, or 0.27 percent, to 2,434.83 as of 9:15 a.m. While traders are increasingly looking to less aggressive rate hikes by the US Federal Reserve as inflation data shows signs of slowing, upward momentum in global stock markets is lacking. China's worsening COVID-19 situation is
Nov. 25, 2022
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Seoul shares open higher ahead of BOK rate decision
Seoul shares opened higher Thursday as investors await a rate hike decision by the Bank of Korea later in the day. The benchmark Korea Composite Stock Price Index had added 18.14 points, or 0.75 percent, to 2,436.15 as of 9:15 a.m. The central bank is widely expected to raise its policy rate by 25 basis points to 3.25 percent, slowing its tightening pace as the economy shows signs of losing momentum. Overnight, US stocks finished higher, buoyed by a dovish stance by US Federal Reserve officials
Nov. 24, 2022
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Market manipulation probe could dent MSCI hopes
The latest probe by the Korea Exchange into alleged market manipulation by two foreign investment banks in South Korea is creating friction between the bourse operator and global investment banks, amid Seoul’s push for recognition in the Morgan Stanley Capital International developed market index. According to sources Wednesday, the KRX is looking to fine the Seoul offices of Morgan Stanley and CLSA, a Hong Kong-based investment bank, for having failed to warn investors in advance when a r
Nov. 23, 2022
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Seoul stocks end higher amid eased concerns over rate hikes
Seoul stocks closed higher Wednesday amid expectations that the US Federal Reserve might ease aggressive monetary tightening in the coming months. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 12.74 points, or 0.53 percent, to close at 2,418.01. Trading volume was moderate at 466.1 million shares worth 7.37 trillion won ($ 5.4 billion), with gainers outnumbering losers 663 to 215. Foreign investors bought a net 83.3 billion won worth of shares,
Nov. 23, 2022
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Seoul shares open higher on Wall Street gains
Seoul shares opened higher Wednesday, tracking overnight Wall Street gains on eased inflation concerns. The benchmark Korea Composite Stock Price Index added 18.58 points, or 0.77 percent, to 2,423.85 as of 9:15 a.m. Overnight, US stocks finished higher, as investors bet that the US Fed may not take aggressive monetary tightening down the road, with inflation data showing signs of peaking, while shrugging off China's recent upticks in COVID-19 cases and possibility of tightening virus restr
Nov. 23, 2022
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Seoul shares open tad higher amid China's COVID-19 woes
Seoul shares opened slightly higher Tuesday amid escalating woes over China's COVID-19 situations. The benchmark Korea Composite Stock Price Index added 2.86 points, or 0.12 percent, to 2,422.36 as of 9:15 a.m. Investors are paying attention to recent COVID-19 developments in China as Beijing could impose stricter antivirus restrictions, which would wreak havoc on its economy. China is South Korea's top trading partner. Overnight, US stocks fell, weighed down by interest-sensitive tech
Nov. 22, 2022
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Seoul shares open lower on Fed's rate hike woes
Seoul shares opened lower Monday over woes that the US Federal Reserve may continue its aggressive monetary tightening. The benchmark Korea Composite Stock Price Index rose 12.73 points, or 0.5 percent, to 2,431.75 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average rose 0.59 percent to 33,745.69, and the tech-heavy Nasdaq Composite inched up 0.01 percent to 11,146.06. This week, investors await minutes of the most recent Federal Reserve policy meeting to take a cue o
Nov. 21, 2022
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S. Korean shares end nearly flat amid Fed's rate hike woes
South Korean stocks ended almost flat Friday, weighed down by lingering concerns over the United States' aggressive monetary tightening and a global economic slowdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 1.58 points, or 0.06 percent, to close at 2,444.48. Trading volume was moderate at about 579.34 million shares worth some 7.25 trillion won ($5.54 billion), with losers outnumbering gainers 543 to 316. Foreign investors bought 197.
Nov. 18, 2022
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Seoul shares open higher on tech gains
South Korean stocks opened higher Friday, despite overnight losses on Wall Street, on investors' bargain hunting for big-cap tech shares. The benchmark Korea Composite Stock Price Index gained 13.76 points, or 0.56 percent, to 2,456.66 in the first 15 minutes of trading. Overnight, US shares went down, as St. Louis Federal Reserve President James Bullard said rate hikes so far had "only limited effects on observed inflation" and the Fed's target rate should be up to at least
Nov. 18, 2022
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S. Korea may delay imposing capital gains tax on stocks
South Korea’s financial authorities on Thursday were mulling a delay on the adoption of the law to levy a capital gains tax on stock investment slated to start next year. In a morning meeting, the regulator Financial Services Commission met with market analysts from 10 local brokerages to address the effects of the new tax system on the market, according to industry sources. The move was widely received by onlookers as a sign that the authorities are actively considering the delay of the
Nov. 17, 2022
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Seoul shares open lower on profit-taking, geopolitical woes
South Korean stocks opened lower Wednesday, despite overnight gains on Wall Street, as investors moved to lock in profits amid renewing geopolitical concerns in Europe. The benchmark Korea Composite Stock Price Index shed 10.98 points, or 0.44 percent, to 2,469.35 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average inched up 0.17 percent, and the tech-heavy Nasdaq Composite advanced 1.45 percent, after the United States' producer price index, a measure of wholesa
Nov. 16, 2022
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Seoul shares open higher despite US losses
South Korean stocks opened higher Tuesday, despite overnight losses on Wall Street, on the back of gains in big-cap tech shares. The benchmark Korea Composite Stock Price Index added 9.38 points, or 0.38 percent, to 2,484.03 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.63 percent, and the tech-heavy Nasdaq Composite lost 1.12 percent as investors moved to take profits from last week's rally. In Seoul, tech and bio shares led the overall market advan
Nov. 15, 2022
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Seoul shares close lower on tech losses
Seoul stocks ended lower Monday as investors moved to cash in part of recent gains on cautions that it would be too early to expect the Federal Reserve to slow down its aggressive rate hikes push. After choppy trading, the benchmark Korea Composite Stock Price Index lost 8.51 points, or 0.34 percent, to close at 2,474.65. Trading volume was moderate at about 499 million shares worth some 7.21 trillion won ($5.43 billion), with gainers outnumbering losers 563 to 301. Foreigners and retail investo
Nov. 14, 2022
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Seoul shares open higher amid eased inflation woes
South Korean stocks opened higher Monday as eased inflation woes raised hopes for less aggressive rate hikes by the Federal Reserve. The benchmark Korea Composite Stock Price Index added 8.11 points, or 0.33 percent, to 2,491.27 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average grew 0.1 percent, and the tech-heavy Nasdaq Composite jumped 1.88 percent on hopes that the Fed could slow the pace of its aggressive monetary tightening over eased inflation woes. The US
Nov. 14, 2022
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New stock tax plan puts retail investors on edge
The main opposition Democratic Party of Korea’s push to introduce a new tax on stocks from next year is causing concern among retail investors who fear it could further dampen investor sentiment in the local equity market. The envisioned scheme is to levy a capital gains tax of 22 to 27.5 percent on income a retail investor makes from financial investments such as share or bond sales, if it is above the set threshold. The plan won bipartisan support in the parliament in 2020 under the pr
Nov. 12, 2022
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More businesses face downgrade in credit ratings
SEJONG -- Market insiders are raising the possibility that dozens of local businesses will suffer a downgrade in their credit standings next year in the wake of economic slowdown as well as worsening liquidity in their financial statements among many in the corporate sector. Their prediction is based on the situation that three major credit rating agencies have recently increased the number of watch list for potential downgrades. According to the lists held by Korea Investors Service, Korea Rati
Nov. 11, 2022
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Seoul shares open sharply higher on US rallies
South Korean stocks opened steeply higher Friday on overnight Wall Street rallies, largely as weaker-than-expected inflation data in the United States raised speculation of the Federal Reserve going easy on a tightening mode. The benchmark Korea Composite Stock Price Index had jumped 69.71 points, or 2.9 percent, to 2,471.94 as of 9:15 a.m. Overnight, the tech-heavy NASDAQ Composite surged a jaw-dropping 7.35 percent. The Dow Jones Industrial Average and the S&P 500 soared 3.7 percent and 5.
Nov. 11, 2022
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FTX’s acquisition of Bithumb seen killed by liquidity crisis
FTX’s plan to buy South Korean crypto exchange Bithumb appears to have gone up in smoke, with billionaire Sam Bankman-Fried’s empire being rocked by a liquidity crisis, industry watchers said Thursday. Crypto exchange giant Binance’s announcement on Wednesday to back out of its plans to acquire FTX is likely to halt the ongoing deal between the Bahamian crypto exchange platform and Bithumb, according to experts. “Investors have been wary of the crypto market because of
Nov. 10, 2022
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Seoul shares open lower on Wall Street losses
South Korean stocks opened lower Thursday on an overnight dip on Wall Street amid the upcoming US midterm election results and a crash in cryptocurrencies. The benchmark Korea Composite Stock Price Index had declined 11.13 points, or 0.46 percent, to 2,413.28 points as of 9:15 a.m. The Dow Jones Industrial Average dropped 1.95 percent Wednesday, with the tech-heavy NASDAQ Composite and S&P 500 retreating 2.48 percent and 2.08 percent, respectively. Investors are paying keen attention to the
Nov. 10, 2022