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

Seoul shares down in late morning on institutional selling

South Korean stocks traded lower late Tuesday morning as institutions offloaded large-cap stocks in an apparent move to lock in profits, analysts said.The benchmark Korea Composite Stock Price Index lost 6.44 points, or 0.27 percent, to 2,392.31 as of 11:20 a.m.The Seoul index had opened higher on Wall Street gains. On Monday (local time), US stocks closed higher, with the Dow edging up 0.12 percent to its ninth-record closing high in a row and the S&P 500 adding 0.16 percent on consumer and

Aug. 8, 2017

Stocks open higher on Wall Street rally

South Korean stocks opened higher Tuesday following overnight Wall Street gains, analysts said.The benchmark Korea Composite Stock Price Index added 8.63 points, or 0.36 percent, to 2,407.38 in the first 15 minutes of trading.On Monday (local time), US stocks closed higher, with the Dow edging up 0.12 percent to its ninth-record closing high in a row and the S&P 500 adding 0.16 percent on consumer and technology sector gains.Most large caps on the Seoul bourse traded mixed, with tech and med

Aug. 8, 2017

W50,000 bills account for 80% of cash

Nearly 80 percent of the entire volume of currency in circulation, or more than 80 trillion won ($70.9 billion), was in the form of South Korea’s largest-denominated 50,000 won banknote in the first half of 2017, data showed Monday. According to the Bank of Korea, around 80.4 trillion won was circulated in 50,000 won notes as of June, up 6.1 percent compared to the end of 2016. This accounted for 79.2 percent of the entire volume of money in the domestic market. About one-fifth of 50,000 w

Aug. 7, 2017

Seoul stocks end mildly higher on foreign buying

South Korean stocks closed slightly higher Monday as foreign buyers sought bargain hunting on signs of recovery in the global economy, offsetting a massive selling spree by institutional investors. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index inched up 3.3 points, or 0.14 percent, to close at 2,398.75. Trade volume was low at 240 million shares worth 4.3 trillion won ($3.8 billion), with gainers outnumbering losers 458 to 338.Foreign investors reverse

Aug. 7, 2017

Stocks open higher on US gains

South Korean stocks opened higher Monday following gains late last week on Wall Street that were buoyed by sound employment data, analysts said.The benchmark Korea Composite Stock Price Index added 7.8 points, or 0.33 percent, to 2,403.25 in the first 15 minutes of trading.On Friday (local time), US stocks closed higher, with the Dow adding 0.30 percent and the S&P 500 gaining 0.19 percent after a strong US July payrolls report.Most large caps on the Seoul bourse were mixed, with tech and ch

Aug. 7, 2017

Tax revision unlikely to pressure foreign investors, but shocks may persist: analysts

Stock analysts in South Korea played down the possible impact of the government’s decision Wednesday to impose taxes on foreign investors holding over 5 percent of a company, but warned of widening volatility prompted by foreign investors’ sell-offs over the past couple of weeks.Starting January 2018, a broader scope of offshore investors are subject to taxation, since the proposal by the government aims to widen the definition of “major shareholders,” referring to those

Aug. 6, 2017

[Kosdaq Star] Moon’s renewable energy drive resurrects Unison

This is the 39th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdSouth Korea is witnessing a revival in eco-friendly policy on the back of President Moon Jae-in’s promise of a “paradigm shift to a safer Republic of Korea” in terms of its energy supply.Moon‘s move to increase the role of new and renewable energy sources is bringing attention back to Unison, the leading provider of land-based wind farms in South Korea. Ove

Aug. 6, 2017

Seoul stocks close higher on institutional buying

South Korean stocks closed higher Friday, pulling away from the previous session's near one-week low, as institutional buyers scooped up steel and chemical shares. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 8.65 points, or 0.36 percent, to close at 2,395.45. Trade volume was modest at 270.62 million shares worth 4.9 trillion won ($4.5 billion), with gainers outnumbering losers 468 to 335.Analysts said Seoul stocks built up as chemical and

Aug. 4, 2017

New tax hike to have limited stock market impact: report

　Following the announcement of a proposed biannual tax revision bill earlier this week, a market report suggested Friday that the tax hike would have a minimal impact on the current state of the stock market. 　The government announced Wednesday that it is proposing a 5 percent increased capital gain tax on Kospi investors starting April 2021. Major shareholders will face a 25 percent tax for shares selling at a gain of more than 300 million won ($267,090) a year, compared to the current rate of

Aug. 4, 2017

Govt. to increase policy loans for low-income homebuyers

The government plans to increase policy loans to further help low-income people buy homes, despite recent measures aimed at cooling down the real estate market, officials said Friday. The plan is designed to step up support for low-income earners who seek to buy a home they will live in, although the government unveiled new guidelines to tighten lending rules and raise the capital gains tax, to quell property speculation.  Under the plan, the ceiling of policy loans for mortgages for low-in

Aug. 4, 2017