South Korean stocks ended lower Thursday as investors were concerned the US economy may be losing steam. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 3.31 points, or 0.13 percent, to close at 2,492.07. Trade volume was moderate at 440.6 million shares worth 8.03 trillion won ($6.06 billion), with losers outnumbering gainers 525 to 354. Institutions dumped a combined 204.8 billion won worth of shares, while individual and foreign inve

South Korean stocks got off to a weak start Thursday as tech shares took a cue from overnight losses in US heavyweights, like Nvidia and Microsoft. The benchmark Korea Composite Stock Price Index retreated 8.91 points, or 0.36 percent, to 2,486.47 in the first 15 minutes of trading. Overnight, all three major US indexes lost ground despite jobs data that reinforced expectations the Federal Reserve may start cutting its rates early next year. AI chip leader Nvidia sank 2.3 percent, while Microsof

South Korean stocks closed nearly flat Wednesday as major shares ended in mixed territory. The local currency lost ground against the US dollar. Swinging between gains and losses, the benchmark Korea Composite Stock Price Index added 1.1 points, or 0.04 percent, to close at 2,495.38. Trade volume was slim at 384.3 million shares worth 7.51 trillion won ($5.71 billion), with winners outnumbering losers 499 to 371. Institutions scooped up a net 240.5 billion won worth of shares, while individual a

Posco Future M said Wednesday its Pohang plant in North Gyeongsang Province had started the supply of high-nickel cathode materials to the US-based Ultium Cells, the joint venture of LG Energy Solution and General Motors. Following its manufacturing plant in Gwangyang, South Jeolla Province, the Pohang site is the company’s second production base for high-nickel cathode materials. With the fast-growing demand for the materials from battery makers, it has moved up the schedule for commercia

Posco International announced Wednesday it has signed a contract worth 300 billion won ($229 million) to supply electric vehicle parts to an American manufacturer, ramping up its presence in the green vehicles industry. Under the contract, Posco International will supply electric vehicle reducers to a major automaker based in the US from 2024 until 2032. The company declined to reveal the name of the client, citing deal conditions. A reducer can adjust the rotational speed to increase the torque

South Korean stocks started a tad higher Wednesday led by gains in tech and financial shares. The benchmark Korea Composite Stock Price Index gained 5.65 points, or 0.23 percent, to 2,499.93 in the first 15 minutes of trading. Overnight, U.S. stocks finished mixed, with the Dow Jones Industrial Average retreating 0.2 percent and the tech-heavy Nasdaq Composite edging up 0.3 percent. In Seoul, chipmakers lent support to the positive opening, with No. 1 Samsung Electronics rising 0.84 percent and

Seoul shares got off to a weak start Tuesday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index retreated 17.21 points, or 0.68 percent, to 2,497.74 in the first 15 minutes of trading. On Monday, all three major US indexes lost ground ahead of the release of key job market data later this week, including an October update on job openings. The S&P 500 gave back 0.54 percent after hitting its highest level in over a year the previous session. The Dow Jon

South Korean stocks ended higher Monday amid speculation that the US Federal Reserve may start cutting its rates next year amid eased inflation woes. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 9.94 points, or 0.4 percent, to close at 2,514.95. Trade volume was moderate at 489.9 million shares worth 8.5 trillion won ($6.5 billion), with gainers slightly outnumbering losers 458 to 411. Institutions and foreigners bought shares worth 170.7 bi

Tighter rules from the US limiting China-made materials in batteries eligible for electric vehicle tax credits might ironically offer a boon for Chinese companies, who hold huge stakes in joint ventures with South Korean battery manufacturers. The Joe Biden administration on Friday announced new guidance for the Inflation Reduction Act barring electric car buyers from claiming a $7,500 tax credit in case the product uses materials from China and other countries deemed a “Foreign Entity of

Seoul shares opened higher Monday amid increasing hopes the US Federal Reserve is set to end its rate-hike cycle. The benchmark Korea Composite Stock Price Index rose 14.43 points, or 0.58 percent, to 2,519.44 in the first 15 minutes of trading. On Friday, all three major US indexes rallied on growing optimism that the Federal Reserve is done raising interest rates. The S&P 500 rose 0.6 percent to hit its highest level in over a year, the Dow Jones Industrial Average jumped 0.8 percent, and

South Korean stocks tumbled more than 1 percent Friday as semiconductor and battery shares took a cue from overnight losses in US heavyweights, like Nvidia and Tesla. The local currency sharply fell against the US greenback. The benchmark Korea Composite Stock Price Index lost 30.28 points, or 1.19 percent, to close at 2,505.01. Trading volume was moderate at 504 million shares worth 8.6 trillion won (US$6.59 million), with losers outpacing winners 489 to 386. Institutions and foreigners led the

Posco Holdings said Wednesday that the steel giant has completed the construction of the country’s first lithium hydroxide factory, a move to strengthen its competitiveness in the global lithium race. The new facility is located within the Yulchon Industrial Complex in Suncheon, South Jeolla Province. The plant can annually produce 21,500 metric tons of lithium hydroxide, one of the key components used for batteries for electric vehicles. The plant is owned by Posco-Pilbara Lithium Solutio

South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

A total of 16 South Korean climate tech companies, ranging from promising startups to well-established companies, have been chosen to represent the country at the United Nations’ 28th COP28 climate conference, slated for Nov. 30 to Dec. 12 in Dubai, United Arab Emirates, according to the Ministry of Environment. Korea will set up a national pavilion, themed “Green Industry for a Sustainable Future,” at the venue and will present various technologies. The 16 companies, represent

South Korean stocks ended more than 1 percent higher Tuesday, as investors were buoyed by the latest news on an extended cease-fire in the Middle East. The local currency rose sharply against the US greenback. The benchmark Kospi jumped 26.1 points, or 1.05 percent, to close at 2,521.76. Trading volume was slim at 435.8 million shares worth 8.59 trillion won ($6.64 billion), with gainers slightly outnumbering decliners 457 to 417. Individual investors led the rally, purchasing a net 572.6 billio