Seoul shares open lower on Fed, growth woes

South Korean stocks opened lower Wednesday, tracking an overnight drop on Wall Street, on lingering concerns about further interest rate hikes by the Federal Reserve and the US economic outlook. The benchmark Korea Composite Stock Price Index shed 3.01 points, or 0.12 percent, to 2,459.96 in the first 15 minutes of trading. Overnight, US shares ended markedly lower as data pointed to weaker-than-expected consumer confidence, stoking fears over a slowdown in the world's largest economy. Inve

Sept. 27, 2023

Seoul shares tumble to 5-month low; won falls to yearly low

South Korean stocks fell to a five-month low Tuesday on lingering concerns about the Federal Reserve's continued monetary tightening path and risks in the Chinese property sector. The local currency fell sharply against the US dollar to hit a yearly low. The benchmark Korea Composite Stock Price Index shed 32.79 points, or 1.31 percent, to close at 2,462.97, extending a losing streak to the fourth session. Trading volume was a bit slim at 418.85 million shares worth 6.86 trillion won ($5.09

Sept. 26, 2023

Seoul shares open lower on tech losses

South Korean stocks opened lower Tuesday, despite overnight gains on Wall Street, as big-cap tech shares lost ground amid lingering concerns about the Federal Reserve's aggressive monetary policy path. The benchmark Korea Composite Stock Price Index shed 13.20 points, or 0.53 percent, to 2,482.56 in the first 15 minutes of trading. Overnight, US shares rose following recent sharp losses as the Federal Reserve signaled higher borrowing rates for longer to curb inflation, sending bond yields

Sept. 26, 2023

[Graphic News] Imports of Japanese seafood dip for 5th month in Aug.

South Korean imports of Japanese seafood fell for the fifth consecutive month in August on concerns over Japan’s release of treated radioactive water, government data showed. Seoul imported $7.81 million worth of fishery products from the neighboring country last month, down 34.8 percent from a year earlier, according to the data from the Korea Customs Service. August posted the largest on-year decline this year, and last month’s import value was the smallest monthly figure in two ye

Sept. 26, 2023

Seoul shares open lower on Fed's higher-for-longer rate policy

South Korean stocks opened lower Monday on concerns about the Federal Reserve's aggressive monetary tightening for a longer-than-expected period. The benchmark Korea Composite Stock Price Index shed 9.31 points, or 0.37 percent, to 2,498.82 in the first 15 minutes of trading. The US central bank last week signaled it could hike interest rates again this year while keeping the rates unchanged. On Friday, the Dow Jones Industrial Average fell 0.31 percent, and the tech-heavy Nasdaq Composite

Sept. 25, 2023

Golden apples: Why fruit prices are national issue in early autumn

When the grip of summer loosens and the air turns cooler, Koreans pay particular attention to the price trends of two specific fruits -- apples and pears. At their freshest and most flavorful during this time, the two fruits are the quintessential autumn fruits in South Korea, but there are a few other reasons why people are particularly sensitive to their prices. A time-honored tradition during Chuseok, one of the two biggest traditional holidays here, is to prepare a table full of food offerin

Sept. 24, 2023

Seoul shares close lower amid woes over Fed's drawn-out rate hike cycle

South Korean stocks closed lower for the second consecutive day Friday amid concerns the US Federal Reserve may keep its benchmark lending rate higher for longer. The local currency climbed against the US dollar. The benchmark Korea Composite Stock Price Index had declined 6.84 points, or 0.27 percent, to finish at 2,508.13. Trading volume was moderate at 425.5 million shares worth 6.9 trillion won ($5.2 billion), with decliners outpacing winners 595 to 285. Individuals purchased a total of 206.

Sept. 22, 2023

Seoul shares open lower amid woes over Fed's drawn-out rate hike cycle

South Korean stocks started lower Friday, tracking an overnight tumble on Wall Street, amid concerns the US Federal Reserve will keep its restrictive monetary policy in place for longer than expected. The benchmark Korea Composite Stock Price Index lost 21.67 points, or 0.86 percent, to 2,493.30 in the first 15 minutes of trading. All three US stock indexes fell on Thursday as investors' risk appetite dwindled after the Fed hinted it may go for another rate hike later this year after a rate

Sept. 22, 2023

Seoul shares open lower after Fed's rate decision

South Korean stocks started lower Thursday after the US Federal Reserve kept its benchmark lending rate unchanged while noting it may push for an additional rate hike later this year. The benchmark Korea Composite Stock Price Index lost 12.91 points, or 0.5 percent, to 2,546.83 in the first 15 minutes of trading. Overnight, US stocks closed lower, with the S&P 500 dropping almost 1 percent and the Nasdaq Composite plunging 1.53 percent amid a slide in tech giants, including Apple Inc. and Te

Sept. 21, 2023

Seoul shares close almost flat ahead of Fed's rate decision

South Korean stocks closed nearly flat Wednesday as investors took a wait-and-see approach ahead of the US rate decision slated for this week. The local currency declined against the US dollar. The benchmark Korea Composite Stock Price Index added 0.53 point, or 0.02 percent, to finish at 2,559.74. Trading volume was slightly thin at 407.3 million shares worth 7.4 trillion won ($5.6 billion), with decliners outpacing winners 517 to 353. Individuals and institutions purchased 88.9 billion won and

Sept. 20, 2023

Seoul shares open nearly flat ahead of Fed meeting

South Korean stocks started almost flat Wednesday as investors remained cautious awaiting the US Federal Reserve's rate decision. The benchmark Korea Composite Stock Price Index lost 1.61 points, or 0.06 percent, to 2,557.60 in the first 15 minutes of trading. All three US stock indexes closed lower Tuesday on the eve of the Federal Reserve's interest rate announcement, which is expected to keep rates on hold. But the market expects the US central bank may deliver one more rate hike th

Sept. 20, 2023

Seoul shares close lower on tech losses ahead of Fed's rate decision

South Korean stocks closed lower for the second consecutive day Tuesday, hit by sharp losses in semiconductor and major tech shares ahead of a US rate-setting meeting. The local currency slid against the US dollar. The benchmark Korea Composite Stock Price Index lost 15.51 points, or 0.6 percent, to finish at 2,559.21. Trading volume was moderate at 455.9 million shares worth 7.6 trillion won ($5.7 billion), with decliners outpacing winners 577 to 302. Offshore and retail investors purchased 2.6

Sept. 19, 2023

Seoul shares open tad higher ahead of Fed meeting

South Korean stocks started weaker Tuesday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index added 2.56 points, or 0.1 percent, to 2,577.28 in the first 15 minutes of trading. Overnight, US stocks also closed little changed. The Dow Jones Industrial Average grew 0.02 percent, the tech-heavy Nasdaq Composite inched up 0.01 percent, and the S&P 500 rose 0.07 percent. The Federal Reserve will hold the Federa

Sept. 19, 2023

Seoul shares dip over 1% on tech losses

South Korean stocks tumbled more than 1 percent Monday led by sharp losses in semiconductor and tech shares ahead of a US rate-setting meeting. The local currency gained ground against the dollar. The benchmark Korea Composite Stock Price Index lost 26.56 points, or 1.02 percent, to finish at 2,574.72, erasing the previous session's 1.1 percent jump. Trading volume was moderate at 408.4 million shares worth 8.6 trillion won ($6.5 billion), with decliners outpacing winners 548 to 330. Offsho

Sept. 18, 2023

Seoul shares open lower ahead of Fed meeting

South Korean stocks started weaker Monday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index dropped 10.44 points, or 0.4 percent, to 2,590.84 in the first 15 minutes of trading. The Federal Reserve will hold the Federal Open Market Committee on Tuesday and Wednesday and likely hold key rates steady. But the market expects the US central bank may deliver one more rate hike this year, given the solid economic r

Sept. 18, 2023

Seoul shares open higher amid hope for Fed's rate hike pause

South Korean stocks started higher Friday as US economic data cemented bets the Federal Reserve will keep its key interest rate unchanged next week. The benchmark Korea Composite Stock Price Index rose 6.78 points, or 0.26 percent, to 2,579.67 in the first 15 minutes of trading. All three US stock indexes rallied Thursday (US time) as strong economic data, including retail sales and producer prices, fueled expectations over a pause in the Fed's rate hike march. Also, the US consumer price i

Sept. 15, 2023

[Graphic News] S. Korea’s lipstick exports set to hit new record in 2023

South Korea’s exports of lipsticks are anticipated to hit a new record in 2023, the customs agency said, on the back of increasing demand, as people have taken off face masks around the globe. The outlook came as exports of the products reached a record high of $198 million over the January-July period, soaring 63.5 percent on-year, according to data compiled by the Korea Customs Service. The agency said the sharp growth came as social distancing measures were eased around the world, with

Sept. 15, 2023

Seoul shares rally to hit more than 1-week high on eased rate hike woes

South Korean stocks jumped more than 1.5 percent to hit a more than one-week high Thursday as investors were boosted by the latest US inflation data that would tone down the Fed's hawkish view on interest rates. The local currency increased against the US greenback. The benchmark Korea Composite Stock Price Index gained 38.19 points, or 1.51 percent, to finish at 2,572.89, the highest since Sept. 5, when the index finished at 2,582.18. Trading volume was moderate at 406.1 million shares wor

Sept. 14, 2023

Seoul shares start higher on eased rate hike woes

South Korean stocks started higher Thursday as concerns over a further rate hike by the Federal Reserve were eased despite higher-than-expected US inflation data. The benchmark Korea Composite Stock Price Index rose 12.99 points, or 0.51 percent, to 2,549.69 in the first 15 minutes of trading. The US consumer price index rose 3.7 percent in August from a year earlier due to high-flying oil prices. But analyst said the US central bank is expected to keep its key rate steady at the upcoming rate-s

Sept. 14, 2023

Seoul shares open higher ahead of US inflation data

South Korean stocks opened slightly higher Wednesday, as investors await US inflation data for August that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 4.94 points, or 0.19 percent, to 2,541.52 in the first 15 minutes of trading. The United States is set to release the consumer price index for August later in the day, with the reading on producer prices to be released Thursday. The upcomi

Sept. 13, 2023