Foreign investors switch to net sellers in July after steady buying throughout year: data

Foreigners who had been steadily investing in Asian stock markets began to pull out in July, with South Korean stocks ranking as the second most sold, data showed Monday.This year's figures provided by the Korea Exchange said foreigners net purchased between $2.8 billion and $11.9 billion per month in Asian shares from January to June. China and Japan were excluded from the count because they do not provide separate tallies on offshore investors.The buying spree was bucked in July when foreigner

Aug. 14, 2017

Korean shares up in late morning trading

South Korean shares traded higher late Monday morning as local institutional investors snatched up market heavyweights amid signs of abating tension between North Korea and the United States. The benchmark Korea Composite Stock Price Index gained 11.72 points, or 0.51 percent, to 2,331.43 as of 11:20 a.m. Large caps traded mixed with market kingpin Samsung Electronics adding 0.85 percent, and global chipmaker SK hynix up 3.91 percent.AmorePacific, the largest cosmetics maker, declined 0.18 perce

Aug. 14, 2017

Seoul stocks start higher on bargain-hunting

South Korean shares opened higher Monday as some investors returned to the market amid escalating geopolitical tension between the United States and North Korea. The benchmark Korea Composite Stock Price Index rose 12.54 points, or 0.54 percent, to 2,332.25 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics gaining 1.43 percent.Top automaker Hyundai Motor climbed 0.7 percent and top steelmaker POSCO rose 1.42 percent.The local currency was tra

Aug. 14, 2017

NK risk clips Kospi rally, forecasts mixed

Rising geopolitical instability over North Korea’s provocations hit South Korea’s stock market last week, but experts expressed mixed views on the prospects for the Kospi, which has been setting records in recent months. 　Some say the market responding to North Korea risks is not new. However, what makes the difference now is that the bigger presence of foreign investors could make the market more vulnerable, as they view the North Korea factor more seriously.　The Kospi has fallen 4.

Aug. 13, 2017

Top 10 groups suffer plunge in market caps on N. Korea risk

The market value of firms affiliated with South Korea's top 10 conglomerates has tumbled more than 5 percent over the past 10 days due to the escalating standoff between the United States and North Korea over Pyongyang's nuclear and missile programs, data showed Sunday.The combined market capitalization of listed companies belonging to the 10 leading groups came to 884.6 trillion won ($772 billion) as of Friday, down 5.15 percent from Aug. 1, according to Chaebul.com and financial sources.It acc

Aug. 13, 2017

Seoul shares expected to move in tight range next week

South Korean shares are expected to move in a tight range next week as escalating war rhetoric between North Korea and the United States could continue to weigh in the main index, analysts said Saturday.Cape Investment & Securities said it expected the benchmark Korea Composite Stock Price Index to trade at the 2,300-2,360 range next week. The broader index closed at 2,319.71 points on Friday, down 3.1 percent from a week ago. Heightened tensions between North Korea and the US are negative f

Aug. 12, 2017

Banks’ loan balance up despite mortgage control plan

Despite recently tightened restrictions on mortgage loans as part of the Moon administration’s anti-speculation measures, the total loan balance for major banks continued to rise, albeit slightly, with borrowers turning to credit loans instead.During the week following the real estate policy announcement on Aug. 2, the daily average of mortgage loans filed at the top four banks -- KB Kookmin, Shinhan, KEB Hana, and Woori -- stood at 277.4 billion won ($242 million). The amount was close to

Aug. 11, 2017

Mirae Asset Daewoo to open Indian brokerage entity

Mirae Asset Daewoo, a leading asset manager here, will establish a brokerage business in India as early as within the year.The company appointed Ryu Han-suk, a manager from its Indonesian operation, as the head of the incoming entity in India, according to officials.“The goal is to establish the Indian branch this year and to kick off business early next year,” said an official of the company. Though details such as total investment and the size of the staff have not been reveal

Aug. 11, 2017

[Newsmaker] Korea on alert against market volatility over NK

South Korea’s government and central bank expressed concerns over increasing market volatility sparked by the unfolding conflict between the United States and North Korea, while stock market analysts attributed the latest decline to foreign investors’ profit-seeking. On Friday, the first-tier Kospi market closed at 2,319.71, after a 1.69 percent dip from Thursday, while the tech-heavy Kosdaq dived 1.83 percent. On the top market, foreign investors net sold 648.8 billion won ($566.1 m

Aug. 11, 2017

NK tension dampens stocks, currency

South Korea’s stock markets and currency remained weak for the second consecutive day Thursday, amid escalating political tension on the Korean Peninsula.The first-tier market’s composite index Kospi closed at 2,359.47, down 0.38 percent from Wednesday, while the tech-heavy Kosdaq dropped 0.44 percent. The Kospi extended its three-day losing streak, while the Kosdaq tumbled for two consecutive days.Foreign investors adhered to selling for two straight days. Offshore buyers sold stock

Aug. 10, 2017

S. Korean shares end lower on foreign selling amid tensions over N. Korea

South Korean stocks ended slightly lower Thursday as foreign investors offloaded local stocks on profit-taking amid escalating tensions over North Korea's provocations. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index lost 8.92 points, or 0.38 percent, to 2,359.47.Foreigners and retail investors offloaded shares worth more than 286 billion won ($250 million) and 168 billion won, respectively, while institutions scooped up more than 429 billion won, keepin

Aug. 10, 2017

S. Korean shares extend losses amid tensions over N. Korea

South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 16.71 points, or 0.71 percent, to 2,351.68 as of 11:20 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States a

Aug. 10, 2017

S. Korean shares open lower amid tensions over N. Korea

South Korean stocks opened lower Thursday as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 4.19 points, or 0.18 percent, to 2,364.20 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States

Aug. 10, 2017

Race for No. 1 online-only bank intensifies

The race between K bank and Kakao Bank, the two frontrunners in South Korea’s online-only banking sector, is heating up, with the firms competing to offer better incentives for customers.K bank, the first bank in operation without a brick-and-mortar branch, has decided to extend its higher interest rate offer for its time deposit products in response to its tepid performance over the last four months, while the second mover Kakao Bank is addressing customer service malfunctions. K bank sai

Aug. 9, 2017

S. Korean stocks down 1.1% on heightened tensions over N. Korea

South Korean stocks ended lower Wednesday morning as foreign investors offloaded large-cap stocks amid heightened tensions over North Korea's nuclear and missile programs. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index lost 26.34 points, or 1.1 percent, to 2,368.39.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States weighed on the main index.Foreign investors sold over 259 billion won ($228 milli

Aug. 9, 2017

S. Korean shares extend losses on heightened tensions over N. Korea

South Korean stocks extended losses late Wednesday morning as rising tensions over North Korea's nuclear and missile programs weighed on the main index.The benchmark Korea Composite Stock Price Index lost 21.27 points, or 0.89 percent, to 2,373.46 as of 11:25 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.15 percent, with the tech-heavy Nasdaq composite index declining 0.21 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said

Aug. 9, 2017

Korean shares open lower on heightened tensions over N. Korea

South Korean stocks opened lower Wednesday as rising tensions over North Korea's nuclear and missile programs weighed on the main index.The benchmark Korea Composite Stock Price Index lost 12.44 points, or 0.52 percent, to 2,382.29 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.15 percent, with the tech-heavy Nasdaq composite index declining 0.21 percent. Kim Ye-eun, an analyst at Cape Investment & Securities,

Aug. 9, 2017

P2P financing industry to absorb investors' demands

The drastic expansion of the peer to peer financing market seemed to be slowing down over the past months due to tightened investment regulations, but is expected to see a rebound from the recent fiscal tapering of the banking sector.It is especially likely to absorb the investor cluster who, under the government’s new restrictive measures on real estate transactions, are swiftly turning away from banks and seeking for an alternative source of investment income, according to industry watch

Aug. 8, 2017

Banks' net profit rises 171%

Banks in South Korea saw their gross net profit reach 8.1 trillion won ($7.19 billion) during the first half of this year, an over 2.7 times increase on-year, while their operating profit surged by more than sixfold, data showed Tuesday.The net profit of all banking institutions -- including commercial banks, provincial banks, state-owned banks, cooperative banks and the central bank -- surged 171.4 percent from 3 trillion won in the first half of 2016.　The operating profit jumped to 9.7 trillio

Aug. 8, 2017

Seoul stocks end lower on institutional selling

South Korean stocks fluctuated to close lower Tuesday as institutional buyers went on a heavy selling-spree to partially offset some foreign buying, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index surrendered 4.02 points, or 0.17 percent, to close at 2,394.73. Trade volume was low at 243 million shares worth 4.5 trillion won ($4 billion), with losers outnumbering gainers 447 to 345.Foreigners went on a two-day buying streak and purchased a

Aug. 8, 2017