Most Popular
-
1
Yoon's approval rating plunges to all-time low
-
2
S. Korea votes in favor of Palestinian bid for UN membership
-
3
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
4
Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
-
5
[From the Scene] Monks, Buddhists hail return of remains of Buddhas
-
6
Medical schools granted enrollment quota flexibility for next year
-
7
Yoon offers first one-on-one meeting with opposition leader next week
-
8
France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
-
9
Chinese man behind drug scam targeting teens nabbed in Cambodia
-
10
Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
-
Seoul shares open slightly higher amid persistent rate hike concerns
South Korean stocks opened marginally higher Friday amid persistent woes over the US Federal Reserve's monetary tightening. The Korea Composite Stock Price Index (KOSPI) added 3.85 points, or 0.15 percent, to 2,527.63 in the first 15 minutes of trading. The index started 0.16 percent lower at the opening bell. Investors digested the softer-than-expected US consumer prices for July, released Wednesday (US time), as a sign of cooling inflation that raised expectations that the Federal Reserve
Aug. 12, 2022
-
Seoul shares rally as softened US inflation eases steep rate hike woes
South Korean stocks jumped 1.73 percent Thursday, taking a cue from an overnight Wall Street rally after softer-than-expected US inflation data helped ease worries about a drastic rate hike by the Federal Reserve, analysts said. The local currency gained ground against the US dollar. The Korea Composite Stock Price Index (KOSPI) advanced 42.90 points to 2,523.78. Trading volume was moderate at 495.5 million shares worth 9.39 trillion won ($7.26 billion), with advancing stocks far outstripping de
Aug. 11, 2022
-
Foreigners become net buyers of S. Korean stocks for 1st time in 6 months in July
Foreign investors became net buyers of South Korean stocks for the first time in six months in July on expectations that the Federal Reserve may slow the pace of monetary tightening, central bank data showed Thursday. Foreigners' stock investment funds recorded a net inflow of $160 million in July, a turnaround from a net outflow of $3.01 billion the previous month, according to the data from the Bank of Korea (BOK). It marked the first net inflow of foreign funds into the local stock marke
Aug. 11, 2022
-
Money supply up for 3rd month in June on increased deposits
South Korea's money supply grew for the third straight month in June on increased deposits amid rising interest rates, central bank data showed Thursday. The country's M2, a key gauge of the money supply, stood at 3,709.3 trillion won ($2.85 trillion) on average in June, up 12 trillion won, or 0.3 percent, from the previous month, according to the preliminary data from the Bank of Korea (BOK). The money supply rose for the third straight month in June after posting the first contractio
Aug. 11, 2022
-
Seoul shares open sharply higher on improved US inflation data
South Korean stocks got off to a strong start Thursday, tracking an overnight rally on Wall Street after the release of better-than-expected inflation data that raised expectations that the US Federal Reserve could slow the pace of monetary tightening. The Korea Composite Stock Price Index (KOSPI) jumped 31.87 points, or 1.28 percent, to 2,512.75 in the first 15 minutes of trading. The US consumer price index (CPI) rose 8.5 percent in July, a slowdown from the 9.1 percent gain for June that mark
Aug. 11, 2022
-
Seoul shares fall nearly 1% on tech plunge, concerns over US inflation data
South Korean stocks fell Wednesday, with tech heavyweight Samsung Electronics dipping 1.5 percent, dented by dismal earnings projections by big US tech firms, like Micron Technology Inc., that pointed to a further slowdown in global chip demand. Analysts say investor sentiment remains cautious with eyes on US consumer prices, due to be announced Wednesday (US time), as it will provide a clue as to how fast the US Federal Reserve will push for monetary tightening going forward. The Korea Composit
Aug. 10, 2022
-
Seoul shares rise to 2-month high amid inflation, rate hike uncertainties
South Korean stocks closed moderately higher Tuesday to extend their winning streak to a fifth day, as investors keep a wary eye on upcoming US inflation data that might offer a clue as to the Federal Reserve's next move in its monetary policy. The local currency inched up against the US dollar. After choppy trading, the Korea Composite Stock Price Index (KOSPI) rose 10.36 points, or 0.42 percent to 2,503.46, the highest since June 13 when the index ended at 2,504.51. Trading volume was mod
Aug. 9, 2022
-
MetLife‘s 360Health app to cater to South Korea’s aging society
South Korea has become an aging society since 2000 and is now on track to become a super-aged society within five years when older people makes up 20 percent of its 50 million population. With the insurers‘ customers across Asia now expecting longer life spans, helping them build a healthier lifestyle has become a key goal for the businesses, says MetLife Asia’s chief marketing officer. “MetLife‘s response to the issue of an aging society was the 360Health solution, wh
Aug. 9, 2022
-
Seoul shares open higher amid rate hike uncertainties
South Korean stocks opened slightly higher Tuesday, as the market maintains a cautious mood ahead of the release of latest US inflation data this week that might offer a clue as to the Federal Reserve's next move in the monetary policy. The Korea Composite Stock Price Index (KOSPI) gained 1.43 points, or 0.06 percent, to 2,494.53 in the first 15 minutes of trading. US stocks closed almost flat on Monday (local time) after the country reported robust jobs data, a possible indication that the
Aug. 9, 2022
-
Seoul shares little changed amid rate hike woes
South Korean stocks ended almost flat after a weak start Monday, as upbeat US jobs data helped ease recession fears despite worries over the US Federal Reserve's drastic rate hike. The local currency lost ground against the US dollar. The Korea Composite Stock Price Index (KOSPI) added 2.3 points, or 0.09 percent, to 2,493.10, in choppy trading that started off some 0.4 percent lower at the opening bell. Trading volume was moderate at 409.1 million shares with 7.41 trillion won ($5.67 billi
Aug. 8, 2022
-
Crypto payment is going mainstream: ethereum co-founder
With the fast-growing blockchain industry, cryptocurrency payment will become mainstream after ethereum becomes cheaper and more accessible for a broader user base, according to ethereum co-founder Vitalik Buterin. “The upgrade of ethereum (which is scheduled in September) will dramatically cut the current cost of transaction fees that are around $1 to $20, by making improvements to efficiency and accessibility of the crypto,” said Buterin during a session at Korea Blockchain Week
Aug. 8, 2022
-
KB Financial Group wins Red Dot Award
KB Financial Group said Monday that its wine collection using its character design won the Red Dot Award for Brands and Communication Design. The character design, which the firm created to boost its image as a friendly bank open to ordinary Koreans, is aimed at raising domestic wine sales amid the pandemic when small business owners face greater economic challenges, the firm added. “We are grateful for the award because we feel acknowledged for our efforts to help those most in need,&r
Aug. 8, 2022
-
Seoul shares open lower on renewed rate hike worries
South Korean stocks got off to a weak start Monday, tracking the decline in US major indexes late last week, on renewed worries over the increasing likelihood of another sharp rate hike by the US Federal Reserve. The Korea Composite Stock Price Index (KOSPI) fell 9.38 points, or 0.38 percent, to 2,481.42 in the first 15 minutes of trading. The S&P 500 and Nasdaq ended lower on Friday (US time), after the latest US nonfarm payroll data showed employment expansion in July that was far larger than
Aug. 8, 2022
-
Foreigners return, retail investors leave Kospi
Retail investors turned net sellers of South Korean stocks in recent weeks despite foreigners’ buying spree, data showed Sunday, putting the nation’s key stock index in a bear market rally. Overseas investors scooped up a net 4 trillion won ($3.08 billion) on the Kospi market from July 14 to Friday, data from the nation’s sole bourse operator Korea Exchange showed, driving the benchmark index’s slight rebound. The Kospi inched up 1.60 percent to 2,490.80 on Friday compa
Aug. 7, 2022
-
Seoul shares up for 3rd day on foreign buying
Seoul shares closed higher for the third consecutive day Friday on continued foreign buying. The South Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.69 points, or 0.72 percent, to close at 2,490.80. The figure is up 1.6 percent from a week ago. Trading volume was moderate at 400.63 million shares worth 7.4 trillion won ($5.7 billion), with gainers outnumbering losers 595 to 241. Foreigners and institutions bought a combined net 418.5
Aug. 5, 2022
-
Seoul shares end higher on foreign buying
Seoul shares ended on foreign buying on Wednesday. The South Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.66 points, or 0.47 percent, to close at 2,473.11 points. Trading volume was moderate at 393.27 million shares worth 7.4 trillion won ($5.6 billion), with gainers outnumbering losers 466 to 382. The Dow Jones Industrial Average rose 1.3 percent, and the tech-heavy Nasdaq Composite climbed 2.6 percent on robust economic data showing the
Aug. 4, 2022
-
Seoul shares open higher on US gains
Seoul shares opened higher Thursday, tracking overnight gains on Wall Street, as jitters over US-China tension, caused by US House Speaker Nancy Pelosi's Taiwan visit, eased somewhat. The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.91 points, or 0.36 percent, to trade at 2,470.36 points in the first 15 minutes of trading. The Dow Jones Industrial Average rose 1.29 percent, and the Nasdaq Composite climbed 2.59 percent on firm economic data showing the world's largest eco
Aug. 4, 2022
-
Top Korean banks face flak for profiting from surging rates
Top commercial banks have come under fire for increasingly denying customer requests to lower their interest rate repayments, while profiting heavily from of their lending programs, data showed Wednesday. The growing criticism comes as borrowers have been facing heavier debt repayment burdens in recent months, with lenders keeping their borrowing rates in pace with the central bank’s aggressive rate hikes. Last year, the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and
Aug. 3, 2022
-
Seoul shares end higher amid woes over fallout from Pelosi's Taiwan visit
Seoul shares ended higher on gains in automakers and battery makers on Wednesday, with investors eyeing the fallout from US House Speaker Nancy Pelosi's trip to Taiwan amid global recession worries. The South Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.83 points, or 0.89 percent, to close at 2,461.45 points. Trading volume was moderate at 463.71 million shares worth 6.6 trillion won ($5.03 billion), with gainers outnumbering losers
Aug. 3, 2022
-
Seoul shares open higher despite US losses
Seoul shares opened higher Wednesday, bucking overnight losses on Wall Street, with investors staying wary of any ripple effect of US House speaker's trip to Taiwan on the financial markets. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.48 point, or 0.02 percent, to trade at 2,440.10 points in the first 15 minutes of trading. Escalating tension between China and the United States over US House Speaker Nancy Pelosi's visit to Taiwan on Tuesday could further weigh on inv
Aug. 3, 2022