South Korean stocks rebounded slightly Thursday, ending their seven-day losing streak, as uncertainty over the future course by the US Federal Reserve eased somewhat after its sharpest rate hike in almost three decades. The local currency rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) added 4.03 points, or 0.16 percent, to close at 2,451.41, after erasing most of its e...

Debt burden on investors gets heavier with US Fed’s biggest rate hike in 28 years

Seoul shares got off to a strong start Thursday, tracking overnight rallies on Wall Street, after the US Federal Reserve delivered a rate hike that met market expectations. The Korea Composite Stock Price Index (KOSPI) rose 45.43 points, or 1.86 percent, to 2,492.81 points in the first 15 minutes of trading. Overnight, US shares closed higher after the Fed hiked the key rates by 0.75 percentage...

South Korea’s benchmark Kospi fell 45.59 points, or 1.83 percent, from a day earlier to 2447.38 points Wednesday, marking a seventh straight negative session as investors dramatically raise their bets on a US Fed hike of 75 basis points on Wednesday there, steeper than the 50 basis points it had indicated. The main board slid to an intraday low of 2436.04 points, a new 52-week low, as foreign in...

South Korean stocks sank to a fresh 19-month low Wednesday to extend their losing streak to a seventh day ahead of the US Federal Reserve's interest rate decision amid high inflation and concerns over a global recession. The local currency also fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 45.59 points, or 1.83 percent, to close at 2,447.38. It is the lowest figu...

Shares of Hybe, the agency behind K-pop sensation BTS, fell almost 25 percent on Wednesday, rattled by the boy band’s announcement that it will take time off from group activities to pursue solo projects. Hybe shares closed 24.87 percent lower from the previous session at 145,000 won ($112.5). It had opened at 168,000 won after closing at 193,000 won in the previous session. Within the first ho...

Seoul shares opened lower Wednesday as investors remained jittery over the path that the Federal Reserve will take on monetary policy this week amid surging inflation. The Korea Composite Stock Price Index (KOSPI) fell 15.36 points, or 0.62 percent, to 2,477.61 points in the first 15 minutes of trading. Overnight, US shares closed mixed ahead of the conclusion of the Fed's two-day interest rate...

Financial authorities say Korea faces uncertainties, market volatility expanding

South Korean stocks fell to a fresh 19-month low Tuesday to extend their losing streak to a sixth day as investors were wary of a larger-than-expected interest rate hike in the US and a global economic recession. The local currency continued to slide against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 11.54 points, or 0.46 percent, to close at 2,492.97 after falling to as l...

Seoul shares got off to a weak start Tuesday, tracking a sharp plunge on Wall Street, on concerns over more aggressive monetary tightening by the United States to tame inflation and its impact on global economic growth. The Korea Composite Stock Price Index (KOSPI) fell 22.72 points, or 0.91 percent, to 2,481.79 points in the first 15 minutes of trading. On Monday, the index dipped to a 19-mont...

South Korea’s benchmark Kospi closed at 2,504.51 points Monday, its lowest level since Nov. 13, 2020 when it fell to 2,493.87 points, as investors priced in a big-step US rate hike amid a record annual increase in US consumer prices in May. A month earlier, US consumer prices surged 8.6 percent on-year, the largest gain since 1981 on record-high gasoline prices and soaring food costs, fueling be...

South Korean stocks crashed to a 19-month low Monday as high inflation sparked fears of a potential aggressive monetary tightening in the US and a slowdown in global economic growth. The local currency fell sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 91.36 points, or 3.52 percent, to close at 2,504.51, extending losses for the fifth consecutive session. It i...

S. Korean designer of KPOP ETF ready for July debut in US hopes to manage at least W1tr

Seoul shares opened sharply lower Monday, as the higher-than-expected inflation in the United States renewed concerns over more aggressive monetary tightening and a global economic slowdown. The Korea Composite Stock Price Index (KOSPI) fell 57.04 points, or 2.2 percent, to 2,538.83 points in the first 15 minutes of trading. On Friday, US shares tumbled after the US' consumer price index for Ma...

Kakao Pay employees who own shares in their own company each lost an average 20 million won ($15,600) due to the mobile payment firm’s stock price plunge since January, reports said Sunday. The company’s employee stock ownership association purchased a total 3.4 million shares in Kakao Pay at the price of 90,000 won per share prior to its initial public offering on Nov. 3 last year, according to...