Seoul shares open lower on large cap losses

South Korean stocks opened lower Monday with most large caps in negative terrain. The benchmark Korea Composite Stock Price Index shed 7.73 points, or 0.29 percent, to 2,666.58 in the first 15 minutes of trading. The index had dipped more than 1 percent Thursday on reports of worse-than-anticipated performance by artificial intelligence giant Nvidia, before slightly rebounding on bargain hunting the following day. US stocks closed higher Friday on growing hopes of a US rate cut, with the US Fede

Sept. 2, 2024

Seoul shares close higher on bargain hunting

South Korean shares finished higher Friday as investors picked up tech, energy and other blue chip bargains following losses the previous session. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 12.03 points, or 0.45 percent, to close at 2,674.31. Trade volume was moderate at 266.9 million shares worth 9.71 trillion won ($7.27 billion), with winners outnumbering losers 580 to 292. Institutions bought a net 47.8 billion won worth of shares, wh

Aug. 30, 2024

Seoul shares open higher on bargain hunting

South Korean shares opened higher Friday as investors picked up tech, auto and other blue chip bargains following losses the previous session. The benchmark Korea Composite Stock Price Index (Kospi) gained 13.53 points, or 0.51 percent, to 2,675.81 in the first 15 minutes of trading. Overnight, US stocks ended mixed after experiencing rollercoaster-like volatility amid differing views on Nvidia's earnings, with some expressing disappointment while others saw the results as alleviating uncer

Aug. 30, 2024

Seoul shares decline over 1%, led by chipmakers after Nvidia's earnings

South Korean shares retreated more than 1 percent Thursday, led by chipmakers after an underwhelming earnings result by global artificial intelligence chip giant Nvidia. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index slipped 27.55 points, or 1.02 percent, to close at 2,662.28. Trade volume was moderate at 284.7 million shares worth 11.3 trillion won ($8.47 billion), with losers outnumbering winners 590 to 280. Institutions and foreign investors sol

Aug. 29, 2024

Korea Exchange raises guard against biopharma shares

The Korea Exchange, the country's sole bourse operator, has recently voiced alarm about excessive and speculative trading of biopharmaceutical stocks tied to the resurgence of COVID-19 and the spread of mpox. Retail investors' interests in pharmaceutical and biotech stocks have soared in recent weeks amid the country’s heightened caution against infectious diseases. Buoyed by short-term speculations, stock prices of some biopharmaceutical companies have experienced a sharp gain r

Aug. 29, 2024

Seoul shares fall over 1% on Nvidia's underwhelming earnings result

South Korean shares dropped more than 1 percent after opening Thursday, taking a cue from Wall Street losses prompted by an underwhelming earnings result by global artificial intelligence chip giant Nvidia. The benchmark Korea Composite Stock Price Index (Kospi) fell 31.62 points, or 1.18 percent, to 2,658.21 in the first 15 minutes of trading. Overnight in the United States, the Dow Jones Industrial Average fell 0.39 percent, with the S&P 500 losing 0.6 percent. The tech-heavy Nasdaq compos

Aug. 29, 2024

Halt to daytime trading of US stocks leaves investors in limbo

South Korean investors remain unable to promptly respond to changes in the US stock market, as local brokerage firms' suspension of their trading service during the Korean daytime is expected to continue. Following the shutdown fiasco from the market meltdown earlier this month that led to the cancellation of orders worth 630 billion won ($471 million) in trades here, 19 brokerage houses have temporarily suspended the daytime trading service of US shares from Aug. 16. Blue Ocean ATS is the

Aug. 28, 2024

Seoul shares end nearly flat ahead of Nvidia earnings result

South Korean shares closed almost flat Wednesday ahead of US tech giant Nvidia's closely watched earnings announcement. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 0.58 points, or 0.02 percent, to close at 2,689.83. Trade volume was moderate at 276.4 million shares worth 10.4 trillion won ($7.77 billion). Losers, however, outnumbered winners 625 to 260. Institutions sold a net 33.9 billion won worth of shares, while individuals and f

Aug. 28, 2024

Seoul shares open tad higher on tech, auto gains

South Korean shares opened slightly higher Wednesday, led by gains in tech, autos, and other blue chips. The benchmark Korea Composite Stock Price Index rose 1.38 points, or 0.05 percent, to 2,686.27 in the first 15 minutes of trading. Tech behemoth Samsung Electronics and chip rival SK hynix added 0.26 and 0.23 percent, respectively. Top automaker Hyundai Motor gained 1.21 percent, and its smaller affiliate Kia also rose 1.18 percent. Battery shares were mixed, with industry leader LG Energy So

Aug. 28, 2024

Seoul shares down for 3rd day on US tech slump

South Korean shares closed lower Tuesday to extend their losing streak to a third day, taking a cue from overnight losses on Wall Street. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) shed 8.76 points, or 0.32 percent, to close at 2,689.25. Trade volume was light at 259.7 million shares worth 7.95 trillion won ($5.97 billion). Winners, however, outnumbered losers 434 to 423. Institutions bought a net 36.9 billion won worth of shares, while

Aug. 27, 2024

Seoul shares open lower on US tech losses

South Korean shares opened lower Tuesday, tracking an overnight tech slide on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) lost 11.74 points, or 0.44 percent, to 2,686.27 in the first 15 minutes of trading. Overnight, major US indexes closed mixed as the Dow Jones Industrial Average increased 0.16 percent, while the S&P 500 and tech-heavy Nasdaq composite fell 0.32 percent and 0.85 percent, respectively. Artificial intelligence chip giant Nvidia slid 2.25 percent ahea

Aug. 27, 2024

[Graphic News] Korean food exports rise 9.2%

South Korea’s exports of foodstuffs rose 9.2 percent on-year in the first seven months of 2024, data showed, led by sharp growth in instant noodle and processed rice products. Outbound shipments of food products came to $5.67 billion over the January-July period, compared with $5.18 billion tallied a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. By product, exports of instant noodles jumped 34 percent over the period to hit $699 million, with those of sn

Aug. 27, 2024

Korean export delegation visits Vietnam to enhance agricultural trade

A South Korean export delegation arrived in Vietnam on Monday for a weeklong trip aimed at promoting high-quality Korean agricultural products and facilitating their entry into the Vietnamese market. Led by officials from the Ministry of Agriculture, Food and Rural Affairs, the delegation includes a diverse range of exporters, such as manufacturers of fertilizers, eco-friendly agricultural chemicals, agricultural equipment, animal feed and machinery. Since 2018, the ministry has consistently s

Aug. 26, 2024

Seoul shares down for 2nd day after Fed chief's remarks; won at over 5-month high

South Korean shares closed slightly lower for the second straight day on Monday as investors sought to cash in on recent gains after Federal Reserve Chair Jerome Powell hinted at a potential rate cut next month. The local currency rose to its highest level in over five months against the US dollar. The benchmark Korea Composite Stock Price Index lost 3.68 points, or 0.14 percent, to close at 2,698.01. Trade volume was moderate at 329 million shares worth 8.97 trillion won ($6.77 billion), with l

Aug. 26, 2024

Seoul shares open higher on US rate cut hopes

South Korean shares opened slightly higher Monday amid growing hopes for a US rate cut. The benchmark Korea Composite Stock Price Index (Kospi) added 2.85 points, or 0.11 percent, to 2,704.54 in the first 15 minutes of trading. The increase follows sharp gains on Wall Street, prompted by remarks from US Federal Reserve Chair Jerome Powell that hinted at the start of US rate cuts in the near future. The Dow Jones Industrial Average surged 1.14 percent to close at 41,175.07 Friday (US time), with

Aug. 26, 2024

Seoul shares snap 3-day rise ahead of Fed chief's speech

South Korean stocks ended slightly lower Friday, snapping three consecutive sessions of gains, as investors sat on the sidelines ahead of Federal Reserve Chair Jerome Powell speech later in the day. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Indexfell 5.98 points, or 0.22 percent, to close at 2,701.69. Trade volume was moderate at 324 million shares worth 8.1 trillion won ($6.05 billion), with gainers outnumbering losers 429 to 428. Foreigners sold a

Aug. 23, 2024

Seoul shares open lower ahead of Fed chief's speech

South Korean stocks opened lower Friday after three consecutive sessions of gains as investors cashed in profits ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium. The benchmark Korea Composite Stock Price Index fell 10.91 points, or 0.4 percent, to 2,696.76 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.43 percent lower, with the S&P 500 falling 0.89 percent. The tech-heavy Nasdaq composite decreased 1.67 perce

Aug. 23, 2024

Seoul shares up for 3rd day as investors weigh BOK's rate freeze, Fed chief's speech

South Korean stocks ended slightly higher on Thursday, extending their winning streak to a third day as investors await more clues over the US rate policy direction amid the Bank of Korea's rate freeze. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 6.54 points, or 0.24 percent, to close at 2,707.67. Trade volume was moderate at 434 million shares worth 8.83 trillion won ($6.61 billion), with losers outnumbering gainers 597 to 283. For

Aug. 22, 2024

Seoul shares open higher on hopes for rate cut by Fed

South Korean stocks opened higher Thursday after the minutes from the Federal Reserve's rate policy meeting showed that the "vast majority" of its policymakers support a rate cut next month. The benchmark Korea Composite Stock Price Index added 7.53 points, or 0.28 percent, to 2,708.66 in the first 15 minutes of trading. Overnight, the Fed released the minutes of the FOMC meeting on July 30-31, which showed that the policymakers believed that it would "likely be appropriate t

Aug. 22, 2024

Seoul shares up for 2nd day ahead of US payroll data, Fed chief's speech

South Korean stocks ended higher for the second straight session Wednesday as they waited for US payroll data and more clues over the US rate policy direction from this week's Jackson Hole symposium. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 4.5 points, or 0.17 percent, to close at 2,701.13. Trade volume was moderate at 406 million shares worth 9.18 trillion won ($6.87 billion), with losers outnumbering gainers 448 to 407. F

Aug. 21, 2024