Kospi hits annual low, won extends losses

South Korean shares hit their lowest level of the year on Monday, as market sentiment was weighed down by prolonged political uncertainty following the failure of the motion to impeach President Yoon Suk Yeol. The local currency also continued its decline against the US dollar, fluctuating around 1,435 won throughout the afternoon. The benchmark Korea Composite Stock Price Index, which opened at 2,392.37 points, down 35.79 points from the previous session, extended its losses during the day to t

Dec. 9, 2024

Seoul shares at over 1-yr low amid impeachment vote turmoil; won tumbles

Seoul shares tumbled by nearly 3 percent Monday amid deepening political chaos as the opposition-led National Assembly is pushing for another impeachment motion against President Yoon Suk Yeol after a failed bid over the weekend. The Korean won fell sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index plummeted 67.58 points, or 2.78 percent, to 2,360.58, the lowest since the 2,351.83 point closing on Nov. 3 last year. Trade volume was moderate at 583.08 million shares

Dec. 9, 2024

Korean investors dump Kospi, flock to US stocks despite strong dollar

Losing faith in the local stock market, which has fallen to its lowest point in months, South Korean investors are shifting their focus to US shares. However, the weak local currency may have become a burden for cross-border trading. While the benchmark Kospi dropped to a low of under 2,400, closing at 2,360.58 on Monday, retailers are pouring money into US stocks, betting that the depressed value proposition on home turf is likely to continue. According to the Korea Securities Depository, local

Dec. 9, 2024

Seoul shares open sharply lower as another impeachment looms

Seoul shares opened sharply lower Monday amid deepening political chaos as the opposition-led National Assembly is pushing for another impeachment motion against President Yoon Suk Yeol after a failed bid over the weekend. The benchmark Korea Composite Stock Price Index fell 33.36 points, or 1.37 percent, to 2,394.80 in the first 15 minutes of trading. Yoon has faced massive pressure to step down or face impeachment after last Tuesday's shocking martial law declaration, which was quickly ov

Dec. 9, 2024

Seoul shares down for 3rd day; impeachment vote in focus

Seoul shares closed down for a third straight session Friday as investors await the result of an impeachment vote against President Yoon Suk Yeol on Saturday over his botched martial law attempt. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 13.69 points, or 0.56 percent, to close at 2,428.16. This week, the index lost 1.1 percent. Trade volume was moderate at 620.82 million shares worth 10.48 trillion won ($7.4 billion), with losers outpacing wi

Dec. 6, 2024

Korean markets tumble amid impeachment talks

South Korea’s stock markets dropped sharply Friday as political tensions intensified over calls to impeach President Yoon Suk Yeol, adding pressure to an already fragile investment landscape. As of 11:05 a.m., the Kospi, South Korea’s main stock index, fell 31.56 points, or 1.29 percent to 2,410.49. Although the market opened slightly higher due to bargain-hunting after recent declines, those early gains quickly reversed. Investor sentiment appeared mixed. Retail and foreign investor

Dec. 6, 2024

Seoul shares open higher; impeachment vote result eyed

Seoul shares opened higher Friday on auto and energy gains, with investors eyeing the planned parliamentary vote for President Yoon Suk Yeol's impeachment over his botched declaration of martial law earlier this week. The benchmark Korea Composite Stock Price Index rose 13.68 points, or 0.56 percent, to 2,455.53 in the first 15 minutes of trading. On Tuesday night, Yoon abruptly declared martial law, accusing the main opposition party of paralyzing the government with impeachment motions an

Dec. 6, 2024

Seoul shares down for 2nd day as impeachment vote looms over Yoon's botched martial law

Seoul shares closed lower for a second straight session on Wednesday as President Yoon Suk Yeol faces an impeachment vote this weekend following his botched declaration of martial law. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 22.15 points, or 0.90 percent, to close at 2,441.85. Trade volume was moderate at 502.49 million shares worth 9.29 trillion won ($6.56 billion), with losers far outpacing winners 724 to 175. Foreigners sold a net 319.19

Dec. 5, 2024

Seoul shares open lower amid political turmoil

Seoul shares opened lower Thursday as investors remain worried over political turmoil after President Yoon Suk Yeol's short-lived attempt at martial law. The benchmark Korea Composite Stock Price Index fell 10.64 points, or 0.43 percent, to 2,453.36 in the first 15 minutes of trading. Late Tuesday, Yoon declared martial law, accusing the main opposition Democratic Party of being "anti-state forces" paralyzing the operation of the nation with impeachment motions and a downsized bud

Dec. 5, 2024

Seoul shares dip 1.5% amid martial law-triggered political turmoil

Seoul shares sank by almost 1.5 percent Wednesday amid political chaos as opposition parties moved to impeach President Yoon Suk Yeol over the declaration of martial law overnight before he reversed the decision hours later. The Korean won fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 36.1 points, or 1.44 percent, to close at 2,464.00. Trade volume was heavy at 661.09 million shares worth 13.07 trillion won ($9.26 billion), with losers outpacing winners

Dec. 4, 2024

Political crisis jolts Korean market but recovery shows resilience

South Korea’s financial markets avoided a feared meltdown on Wednesday, recovering quickly after President Yoon Suk Yeol declared -- and just six hours later lifted -- martial law in response to political tensions. Swift intervention from the National Assembly and financial authorities helped calm the initial panic, but questions about political stability continue to weigh on investors. The benchmark Kospi index plunged as much as 2.31 percent during morning trading, bottoming out at 2,442

Dec. 4, 2024

Stocks tied to political leaders surge following martial law repeal

Shares in companies linked to prominent South Korean political figures surged Wednesday, following the repeal of martial law and a renewed impeachment push against President Yoon Suk Yeol. The sharp rise in stocks seen as politically affiliated appears to be attributed to President Yoon's precarious position following his declaration and subsequent revocation of martial law. As Yoon's grip on power weakens, investors are increasingly betting on stocks linked to prominent presidential

Dec. 4, 2024

Seoul shares open lower after short-lived martial law attempt

Seoul shares opened lower Wednesday as political uncertainties arose after President Yoon Suk Yeol lifted a short-lived attempt at martial law. The benchmark Korea Composite Stock Price Index (Kospi) fell 25.95 points, or 1.04 percent, to 2,474.15 in the first 15 minutes of trading. On late Tuesday, Yoon declared an "emergency martial law," accusing the main opposition Democratic Party of sympathizing with North Korea and paralyzing the government with anti-state activities. But Yoon l

Dec. 4, 2024

Seoul shares spike nearly 2% on US data

South Korean stocks soared nearly 2 percent Tuesday on better-than-expected US industry data and Washington's export curbs targeting China having a limited impact on the market. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 45.62 points, or 1.86 percent, to close at 2,500.1. Trade volume was moderate at 314.4 million shares worth 8.87 trillion won ($6.32 billion), with winners outpacing losers 733 to 163. Foreigners bought a net 538.8 b

Dec. 3, 2024

Seoul shares open higher amid US export curbs against China

Seoul shares opened higher Tuesday, tracking gains in US tech stocks after Washington announced a new semiconductor export control package targeting China. The benchmark Korea Composite Stock Price Index shot up 29.74 points, or 1.21 percent, to 2,484.22 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite jumped 0.97 percent, and the S&P increased 0.24 percent. The Dow Jones Industrial Average edged down 0.29 percent. Seoul shares gained ground as the latest US exp

Dec. 3, 2024

Seoul shares end lower on extended tech losses

Seoul shares ended lower Monday, bucking gains on Wall Street on extended tech losses. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 1.43 points, or 0.06 percent, to close at 2,454.48. The main index ended in the negative territory after opening sharply higher, jumping 23.63 points, or nearly 1 percent, in the first 15 minutes of trading on U.S. gains. On Friday, the Dow Jones Industrial Average rose 0.42 percent to 44,910.65 points, an

Dec. 2, 2024

Seoul shares open higher on US gains

Seoul shares opened higher Monday, tracking gains on Wall Street, with the local stock market also getting a boost from advances in auto and energy shares. The benchmark Korea Composite Stock Price Index (Kospi) rose 23.63 points, or 0.96 percent, to 2,479.54 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average rose 0.42 percent to 44,910.65 points and the tech-heavy Nasdaq Composite climbed 0.83 percent to 19,218.17. In Seoul, top carmaker Hyundai Motor rose 0.23 perc

Dec. 2, 2024

Seoul shares open lower on tech losses amid growth woes

South Korean stocks opened lower Friday, led by declines in big-cap tech shares amid concerns about an economic slowdown. The benchmark Korea Composite Stock Price Index (Kospi) shed 32.29 points, or 1.29 percent, to 2,472.38 in the first 15 minutes of trading. The country's industrial output, retail sales and facility investment all fell on-month in October, deepening concerns about a lack of growth momentum, government data showed. Presenting a bleak growth outlook for 2025, the Bank of K

Nov. 29, 2024

Seoul shares edge up despite tech slump amid BOK's surprise rate cut

South Korean stocks ended slightly higher Thursday, despite big-cap tech losses, as investors assessed the Bank of Korea's surprise back-to-back policy rate cut to spur growth. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 1.61 points, or 0.06 percent, to close at 2,504.67, ending a two-day losing streak. Trade volume was a bit slim at 333.44 million shares worth 7.37 trillion won (US$5.28 billion), with winners outnumbering los

Nov. 28, 2024

Seoul shares open lower on tech slump

South Korean stocks opened a tad lower Thursday, tracking overnight losses on Wall Street led by declines in big-cap tech shares. The benchmark Korea Composite Stock Price Index (Kospi) shed 3.05 points, or 0.12 percent, to 2,500.01 in the first 15 minutes of trading. Foreigners were on a selling mode, which offset buying by institutions and retail investors. Overnight, the Dow Jones Industrial Average fell 0.31 percent and the tech-heavy Nasdaq composite slid 0.6 percent as major tech shares lo

Nov. 28, 2024