Seoul shares open higher after US tech gains

Seoul shares opened higher Friday following tech gains on Wall Street, although investors remained concerned about a potential slower pace of the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 25.4 points, or 0.98 percent, to 2,606.43 in the first 15 minutes of trading. Overnight, US stocks ended mixed. The Dow Jones Industrial Average fell 0.33 percent to 42,374.36, while the tech-heavy Nasdaq Composite rose 0.76 percent to 18,415.49. In Seoul, tech stock

Oct. 25, 2024

Seoul shares end lower amid weak GDP data, rate woes

Seoul shares closed lower Thursday on tech losses amid concerns over weak economic growth and diminishing expectations for Federal Reserve rate cuts. The Korean won, however, snapped its 8-day losing streak against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 18.59 points, or 0.7 percent, to close at 2,581.03. Trade volume was moderate, with 336.43 million shares worth 9.47 trillion won ($6.9 billion) changing hands, and losers outnumbering gainers 613 to 256. Institutio

Oct. 24, 2024

Korea Zinc shares soar 30% amid prolonged ownership fight

Shares of Korea Zinc, the world’s largest zinc smelter, jumped almost 30 percent on Thursday amid speculation that the prolonged power struggle between the current management and the MBK Partners-Young Poong coalition could push the share price up further in the coming weeks. The shares of Korea Zinc closed at 1.13 million won ($825), up 262,000 won or 29.91 percent from the previous day, hitting the upper circuit limit. The uptick comes after the tender offer of the current management clo

Oct. 24, 2024

Seoul shares open lower on US losses

Seoul shares opened lower Thursday, tracking losses on Wall Street amid concerns over a slower pace of the US Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index fell 8.92 points, or 0.34 percent, to 2,590.70 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.96 percent to 42,514.95, while the tech-heavy Nasdaq Composite declined 1.6 percent to 18,276.65. In Seoul, large-cap stocks were mixed. Market bellwether Samsung Electronics

Oct. 24, 2024

Seoul shares end higher on tech, auto gains; won slips for 8th day

Seoul shares closed higher Wednesday on tech and auto gains amid concerns over a possible slower pace in the Federal Reserve's rate cuts. The Korean won continued to slip against the US dollar. The benchmark Korea Composite Stock Price Index rose 28.92 points, or 1.1 percent, to close at 2,599.62. Trade volume was moderate at 345.96 million shares worth 9.25 trillion won ($6.7 billion), with gainers outpacing losers 448 to 408. Institutions and foreigners bought a combined 510 billion won w

Oct. 23, 2024

Seoul shares open higher on retail buying

Seoul shares opened higher Wednesday on retail buying, though investors remain cautious due to concerns over a slower pace of the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index (Kospi) rose 3.53 points, or 0.14 percent, to 2,574.23 in the first 15 minutes of trading. Overnight, US stocks closed mixed. The Dow Jones Industrial Average fell 0.02 percent to 42,924.89, while the tech-heavy Nasdaq Composite rose 0.18 percent to 18,573.13. In Seoul, large-cap stocks

Oct. 23, 2024

Seoul shares end lower on Samsung woes; won slips for 7th day

Seoul shares closed lower Tuesday as Samsung and other market heavyweights came under heavy selling following overnight losses on Wall Street. The Korean won continued to slip against the US dollar. The benchmark Korea Composite Stock Price Index fell 34.22 points, or 1.3 percent, to close at 2,570.70. Institutions and foreigners sold a combined 602 billion won ($436 million) worth of stocks, exceeding individuals' stock purchases valued at 582 billion won. Trade volume was moderate at 337.

Oct. 22, 2024

Seoul shares open lower after Wall Street dip

Seoul shares opened lower Tuesday as US stocks took a breather after reporting their longest weekly rally this year. The benchmark Korea Composite Stock Price Index fell 16.66 points, or 0.6 percent, to 2,588.26 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.8 percent to 42,931.60, while the tech-heavy Nasdaq Composite rose 0.3 percent to 18,540.01. In Seoul, large-cap stocks were mixed. Market bellwether Samsung Electronics Co. fell 1 percent, top carmake

Oct. 22, 2024

Seoul shares snap 3-day fall on bargains; won at over 2-month low

Seoul shares closed higher Monday to snap their three-day slide as investors scooped oversold stocks after US gains. The Korean won fell to the lowest in over two months against the US dollar. The benchmark Korea Composite Stock Price Index rose 11.1 points, or 0.43 percent, to close at 2,604.92. Trade volume was moderate at 235.86 million shares worth 7.6 trillion won ($5.5 billion), with gainers outpacing losers 434 to 427. Institutions and foreigners bought a combined 284 billion won, exceedi

Oct. 21, 2024

Seoul shares open higher on Wall Street gains

Seoul shares opened higher Monday, tracking gains on Wall Street last week. The benchmark Korea Composite Stock Price Index (Kospi) rose 5.19 points, or 0.2 percent, to 2,599.01 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average gained 0.09 percent to 43,275.91, and the tech-heavy Nasdaq Composite was up 0.63 percent to 18,489.55. In Seoul, large-cap stocks were mixed. Market bellwether Samsung Electronics Co. fell 0.8 percent, leading auto parts maker Hyundai Mobis

Oct. 21, 2024

Seoul shares down for 3rd day on foreign sell-off

South Korean stocks closed lower Friday as foreign investors unloaded big-cap tech and battery shares. The local currency fell against the US dollar. After opening slightly higher, the benchmark Korea Composite Stock Price Index (Kospi) lost 15.48 points, or 0.59 percent, to close at 2,593.82. Trade volume was slim at 259.1 million shares worth 8.1 trillion won (US$5.9 billion), with losers far outpacing winners 589 to 267. Overnight, the Dow Jones Industrial Average climbed 0.37 percent to clos

Oct. 18, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened slightly higher Friday, taking a cue from overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 4.09 points, or 0.16 percent, to 2,613.39 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average climbed 0.37 percent to close at 43,239.05, marking a new high for a second consecutive session on reports of better-than-anticipated consumer spending. The U.S. Department of Commerce reported that the value of ret

Oct. 18, 2024

Seoul shares close tad lower on foreign selling

South Korean shares closed slightly lower Thursday as foreign investors extended their selling streak to a second session. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) slipped 1.06 points, or 0.04 percent, to close at 2,609.30. Trading volume was moderate at 325 million shares worth 9.7 trillion won ($7.09 billion), with losers outnumbering gainers 511 to 358. Foreign investors net sold 405.8 billion won worth of local shares, on

Oct. 17, 2024

Seoul shares open tad higher on US gains

South Korean shares opened a tad higher Thursday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 1.75 points, or 0.07 percent, to 2,612.11 in the first 15 minutes of trading. US stocks rebounded on Wednesday, one day after posting sharp declines on concerns of a downturn in the artificial intelligence and semiconductor market. The Dow Jones Industrial Average gained 0.79 percent to close at 43,077.70, with the tech-heavy Nasdaq advancing 0.2

Oct. 17, 2024

Seoul shares end 2-day rise on slump in techs, financials

South Korean stocks ended lower Wednesday due to losses in tech shares amid concerns over their earnings. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 23.09 points, or 0.88 percent, to close at 2,610.36, ending the two-session winning streak. Trading volume was moderate at 429.5 million shares worth 9.8 trillion won ($7.2 billion), with losers outnumbering gainers 551 to 323. Foreign investors led the daily drop, dumping a net 664.3 b

Oct. 16, 2024

Seoul shares open sharply lower on US losses

South Korean stocks started sharply lower, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 29.41 points, or 1.12 percent, to 2,604.04 in the first 15 minutes of trading. Overnight, US stocks closed sharply lower due to poorer-than-expected earnings outlooks of chip equipment-maker ASML Holdings. The Dow Jones Industrial Average fell 0.75 percent, and the tech-heavy Nasdaq Composite tumbled 1.01 percent. In Seoul, most shares opened weaker across the

Oct. 16, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 5.45 points, or 0.21 percent, to 2,628.74 in the first 15 minutes of trading. Overnight, US stocks closed sharply higher ahead of earnings reports. The Dow Jones Industrial Average gained 0.47 percent to close at 43,065.22, breaching the 43,000 mark for the first time, while the S&P 500 also climbed to a record high of 5,859.85. In Seoul, large cap

Oct. 15, 2024

Seoul shares jump over 1% on tech gains, foreign buying

South Korean shares closed sharply higher Monday, helped by strong advances in tech and financial shares. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 26.38 points, or 1.02 percent, to close at 2,623.29. Trading volume was moderate at 391 million shares worth 8.3 trillion won ($6.12 billion), with gainers outnumbering losers 488 to 395. Foreigners net bought 77.6 billion won worth of shares while retail investors dumped 440

Oct. 14, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened slightly higher Monday, taking a cue from Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) added 15.92 points, or 0.61 percent, to 2,612.83 in the first 15 minutes of trading. The rise follows gains on Wall Street last week. The Dow Jones Industrial Average closed 0.97 percent higher Friday (US time), with the tech-heavy Nasdaq advancing 0.33 percent. In Seoul, large caps traded mixed. Market kingpin and tech giant Samsung Electronics advanced

Oct. 14, 2024

Samsung Electronics sheds W90tr in market cap amid foreigners' selloff

Samsung Electronics, South Korea’s largest chipmaker, has seen its market cap shrink by a staggering 90 trillion won ($66.6 billion) since September, largely driven by a sustained selling spree among foreign investors. According to the Korea Exchange on Sunday, foreigners have net sold 10.6 trillion won in Samsung Electronics shares over the past month, marking 23 consecutive days of selling since Sept. 3 -- just two days shy of the record 25-day selling streak set in 2022. During this per

Oct. 13, 2024