Seoul shares open lower after Fed's rate decision

South Korean stocks started lower Thursday after the US Federal Reserve kept its benchmark lending rate unchanged while noting it may push for an additional rate hike later this year. The benchmark Korea Composite Stock Price Index lost 12.91 points, or 0.5 percent, to 2,546.83 in the first 15 minutes of trading. Overnight, US stocks closed lower, with the S&P 500 dropping almost 1 percent and the Nasdaq Composite plunging 1.53 percent amid a slide in tech giants, including Apple Inc. and Te

Sept. 21, 2023

Seoul shares close almost flat ahead of Fed's rate decision

South Korean stocks closed nearly flat Wednesday as investors took a wait-and-see approach ahead of the US rate decision slated for this week. The local currency declined against the US dollar. The benchmark Korea Composite Stock Price Index added 0.53 point, or 0.02 percent, to finish at 2,559.74. Trading volume was slightly thin at 407.3 million shares worth 7.4 trillion won ($5.6 billion), with decliners outpacing winners 517 to 353. Individuals and institutions purchased 88.9 billion won and

Sept. 20, 2023

Seoul shares open nearly flat ahead of Fed meeting

South Korean stocks started almost flat Wednesday as investors remained cautious awaiting the US Federal Reserve's rate decision. The benchmark Korea Composite Stock Price Index lost 1.61 points, or 0.06 percent, to 2,557.60 in the first 15 minutes of trading. All three US stock indexes closed lower Tuesday on the eve of the Federal Reserve's interest rate announcement, which is expected to keep rates on hold. But the market expects the US central bank may deliver one more rate hike th

Sept. 20, 2023

Seoul shares close lower on tech losses ahead of Fed's rate decision

South Korean stocks closed lower for the second consecutive day Tuesday, hit by sharp losses in semiconductor and major tech shares ahead of a US rate-setting meeting. The local currency slid against the US dollar. The benchmark Korea Composite Stock Price Index lost 15.51 points, or 0.6 percent, to finish at 2,559.21. Trading volume was moderate at 455.9 million shares worth 7.6 trillion won ($5.7 billion), with decliners outpacing winners 577 to 302. Offshore and retail investors purchased 2.6

Sept. 19, 2023

Seoul shares open tad higher ahead of Fed meeting

South Korean stocks started weaker Tuesday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index added 2.56 points, or 0.1 percent, to 2,577.28 in the first 15 minutes of trading. Overnight, US stocks also closed little changed. The Dow Jones Industrial Average grew 0.02 percent, the tech-heavy Nasdaq Composite inched up 0.01 percent, and the S&P 500 rose 0.07 percent. The Federal Reserve will hold the Federa

Sept. 19, 2023

Seoul shares dip over 1% on tech losses

South Korean stocks tumbled more than 1 percent Monday led by sharp losses in semiconductor and tech shares ahead of a US rate-setting meeting. The local currency gained ground against the dollar. The benchmark Korea Composite Stock Price Index lost 26.56 points, or 1.02 percent, to finish at 2,574.72, erasing the previous session's 1.1 percent jump. Trading volume was moderate at 408.4 million shares worth 8.6 trillion won ($6.5 billion), with decliners outpacing winners 548 to 330. Offsho

Sept. 18, 2023

Seoul shares open lower ahead of Fed meeting

South Korean stocks started weaker Monday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index dropped 10.44 points, or 0.4 percent, to 2,590.84 in the first 15 minutes of trading. The Federal Reserve will hold the Federal Open Market Committee on Tuesday and Wednesday and likely hold key rates steady. But the market expects the US central bank may deliver one more rate hike this year, given the solid economic r

Sept. 18, 2023

Seoul shares open higher amid hope for Fed's rate hike pause

South Korean stocks started higher Friday as US economic data cemented bets the Federal Reserve will keep its key interest rate unchanged next week. The benchmark Korea Composite Stock Price Index rose 6.78 points, or 0.26 percent, to 2,579.67 in the first 15 minutes of trading. All three US stock indexes rallied Thursday (US time) as strong economic data, including retail sales and producer prices, fueled expectations over a pause in the Fed's rate hike march. Also, the US consumer price i

Sept. 15, 2023

[Graphic News] S. Korea’s lipstick exports set to hit new record in 2023

South Korea’s exports of lipsticks are anticipated to hit a new record in 2023, the customs agency said, on the back of increasing demand, as people have taken off face masks around the globe. The outlook came as exports of the products reached a record high of $198 million over the January-July period, soaring 63.5 percent on-year, according to data compiled by the Korea Customs Service. The agency said the sharp growth came as social distancing measures were eased around the world, with

Sept. 15, 2023

Seoul shares rally to hit more than 1-week high on eased rate hike woes

South Korean stocks jumped more than 1.5 percent to hit a more than one-week high Thursday as investors were boosted by the latest US inflation data that would tone down the Fed's hawkish view on interest rates. The local currency increased against the US greenback. The benchmark Korea Composite Stock Price Index gained 38.19 points, or 1.51 percent, to finish at 2,572.89, the highest since Sept. 5, when the index finished at 2,582.18. Trading volume was moderate at 406.1 million shares wor

Sept. 14, 2023

Seoul shares start higher on eased rate hike woes

South Korean stocks started higher Thursday as concerns over a further rate hike by the Federal Reserve were eased despite higher-than-expected US inflation data. The benchmark Korea Composite Stock Price Index rose 12.99 points, or 0.51 percent, to 2,549.69 in the first 15 minutes of trading. The US consumer price index rose 3.7 percent in August from a year earlier due to high-flying oil prices. But analyst said the US central bank is expected to keep its key rate steady at the upcoming rate-s

Sept. 14, 2023

Seoul shares open higher ahead of US inflation data

South Korean stocks opened slightly higher Wednesday, as investors await US inflation data for August that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 4.94 points, or 0.19 percent, to 2,541.52 in the first 15 minutes of trading. The United States is set to release the consumer price index for August later in the day, with the reading on producer prices to be released Thursday. The upcomi

Sept. 13, 2023

[Herald Interview] Crypto platform sees future in IP content

An expansion of the storytelling platform and content for cryptocurrency is the key to broadening the digital asset industry, said Eric Anziani, president and chief operating officer at Singapore-based crypto trading platform Crypto.com. “Our vision is ‘Crypto is more than trading.’ There are many use cases that can empower creators, developers and builders to reach global audiences,” Anziani said in an interview with The Korea Herald held in central Seoul, Wednesday. As

Sept. 12, 2023

Seoul shares fall ahead of US inflation data release

South Korean stocks closed 0.79 percent lower Tuesday, as investors kept a cautious mode ahead of the release of US inflation data that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index retreated 20.30 points to finish at 2,536.58. Trading volume was light at 354.5 million shares worth 8.78 trillion won ($6.61 billion), with decliners outstripping gain

Sept. 12, 2023

Seoul shares open higher ahead of inflation data

South Korean stocks opened slightly higher Tuesday, as investors await US inflation data for August due out later this week that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 2.03 points, or 0.08 percent, to 2,558.91 in the first 15 minutes of trading. The United States is set to release the consumer price index for August on Wednesday, with the reading on producer prices to be released th

Sept. 12, 2023

Seoul shares snap 4-day losing streak ahead of key economic data

South Korean stocks finished slightly higher Monday ahead of key economic data to be released later this week, ending a four-day losing streak. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index advanced 9.2 points, or 0.36 percent, to finish at 2,556.88. Trading volume was moderate at 406.6 million shares worth 8.21 trillion won ($6.17 billion), with gainers outpacing decliners 507 to 355. Foreigners and institutions bought a combined net 56.

Sept. 11, 2023

Seoul shares open lower on tech, auto losses

South Korean stocks started a tad lower Monday as big-cap tech and auto stocks traded in negative territory. The benchmark Korea Composite Stock Price Index lost 7.06 points, or 0.28 percent, to 2,540.62 in the first 15 minutes of trading. Market bellwether Samsung Electronics dropped 0.28 percent, and its chipmaking rival SK hynix decreased 0.44 percent. Top automaker Hyundai Motor fell 0.65 percent, and leading battery maker LG Energy Solution skidded 0.79 percent. Major online portal operator

Sept. 11, 2023

[KH explains] Why Mirae Asset bets big on expanding presence in India

India, the world’s fifth-largest economy, is one of the strategic markets where South Korea’s Mirae Asset Financial Group has poured considerable resources into expanding its presence. Amid industry-wide efforts to de-risk from China more recently, industry watchers say Mirae Asset’s years-long investment could pay off “soon.” Over the past years, the Korean financial giant has been making bold investments in the fast-growing country, broadening its portfolio from s

Sept. 10, 2023

Seoul shares down for 4th day on tech losses, rate woes

Seoul shares ended lower Friday following tech losses on Wall Street amid concerns over China's ban on Apple Inc.'s use by government officials and the Federal Reserve's possible rate hikes. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 0.58 point, or 0.02 percent, to close at 2,547.68, extending its losses to the fourth session. The KOSPI has risen 0.6 percent this week. Trading volume was moderate at 386.53 million shares worth 7

Sept. 8, 2023

Seoul shares open lower on US tech losses

Seoul shares opened lower Friday, tracking tech losses on Wall Street, amid concerns over China's ban on Apple Inc.'s use. The benchmark Korea Composite Stock Price Index fell 0.07 point to 2,548.19 in the first 15 minutes of trading. China plans to expand its ban on the use of iPhones in government agencies and state-owned companies. The move is expected to deal a blow to global big tech companies that heavily rely on China, analysts said. In Seoul, tech and auto stocks were the lead

Sept. 8, 2023