Seoul shares close tad lower amid mixed US rate outlook

South Korean stocks closed slightly lower Thursday amid a mixed outlook on whether the United States will maintain its monetary tightening policy. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index declined 2.09 points, or 0.09 percent, to close at 2,403.60. Trading volume was moderate at 446.01 million shares worth 8.96 trillion won ($6.64 billion), with losers outpacing gainers 583 to 295. Foreigners and institutions dumped a net 272.1 billion won an

Oct. 5, 2023

Doosan Robotics shares debut at double IPO price

Shares of Doosan Robotics, South Korea’s largest collaborative robot producer under the conglomerate Doosan Group, nearly doubled on Thursday, as the company made its stock market debut. Doosan Robotics closed at 51,400 won ($38.03) per share on Korea's main bourse Kospi, up 97.69 percent from its initial public offering price of 26,000 won. Its market capitalization stood at 3.33 trillion won, ranking in the top 100 stocks on Kospi. Its shares opened at 59,100 won, 127.3 percent hi

Oct. 5, 2023

Seoul shares open higher on Fed rate pause hopes

South Korean stocks rebounded Thursday from a crash the previous day, as weaker-than-expected US jobs data raised hopes that the Federal Reserve may refrain from further rate increases. The benchmark Korea Composite Stock Price Index added 9.08 points, or 0.38 percent, to 2,414.77 in the first 15 minutes of trading. Overnight, US shares rebounded after a slump the previous session thanks to big tech gains, including Tesla, Alphabet, Microsoft and Amazon. Investors hope that the Fed may not go fo

Oct. 5, 2023

Seoul shares, won crash amid rising Fed woes

South Korean stocks fell to a six-month low Wednesday on a sharp decline in big-cap tech shares amid growing concerns the Federal Reserve will keep its rates higher for longer. The local currency fell against the US dollar to hit an 11-month low. The benchmark Korea Composite Stock Price Index slid 59.38 points, or 2.41 percent, to close at 2,405.69, the lowest since March. The secondary KOSDAQ plunged 4 percent. The Kospi's trading volume was moderate at 417.16 million shares worth 9.88 tr

Oct. 4, 2023

Seoul shares open sharply down on US jobs data, rate hike woes

South Korean stocks opened sharply lower Wednesday, tracking an overnight slump on Wall Street, as US jobs data deepened concerns about further interest rate hikes by the Federal Reserve. The benchmark Korea Composite Stock Price Index shed 47.43 points, or 1.92 percent, to 2,417.64 in the first 15 minutes of trading. The secondary KOSDAQ index lost more than 2.2 percent in the first 15 minutes. Overnight, US shares ended markedly lower as an increase in available job openings in August strength

Oct. 4, 2023

Seoul shares snap 4-day losing run; won falls to fresh yearly low

South Korean stocks finished slightly higher Wednesday following recent sharp losses amid concerns about the Federal Reserve's further interest rate hikes and the US economic outlook. The local currency fell against the US dollar to hit a fresh yearly low. The benchmark Korea Composite Stock Price Index added 2.1 points, or 0.09 percent, to close at 2,465.07, ending a four-day losing streak. Trading volume was a bit slim at 354.97 million shares worth 6.26 trillion won ($4.64 billion), with

Sept. 27, 2023

BTS agency likely to face tougher disclosure rules

Hybe, the K-pop powerhouse behind the mega success of bands such as BTS and New Jeans, could be obliged to disclose its corporate information if the total assets of the firm and its affiliates continue to surpass 5 trillion won ($3.7 billion) by the end of this year. The combined total assets of Hybe and its 16 affiliates stood at 5.37 trillion won as of end-June, a report by corporate data research institute CEO Score showed Wednesday. Under the Monopoly Regulation and Fair Trade Act, a busin

Sept. 27, 2023

Seoul shares open lower on Fed, growth woes

South Korean stocks opened lower Wednesday, tracking an overnight drop on Wall Street, on lingering concerns about further interest rate hikes by the Federal Reserve and the US economic outlook. The benchmark Korea Composite Stock Price Index shed 3.01 points, or 0.12 percent, to 2,459.96 in the first 15 minutes of trading. Overnight, US shares ended markedly lower as data pointed to weaker-than-expected consumer confidence, stoking fears over a slowdown in the world's largest economy. Inve

Sept. 27, 2023

Seoul shares tumble to 5-month low; won falls to yearly low

South Korean stocks fell to a five-month low Tuesday on lingering concerns about the Federal Reserve's continued monetary tightening path and risks in the Chinese property sector. The local currency fell sharply against the US dollar to hit a yearly low. The benchmark Korea Composite Stock Price Index shed 32.79 points, or 1.31 percent, to close at 2,462.97, extending a losing streak to the fourth session. Trading volume was a bit slim at 418.85 million shares worth 6.86 trillion won ($5.09

Sept. 26, 2023

Seoul shares open lower on tech losses

South Korean stocks opened lower Tuesday, despite overnight gains on Wall Street, as big-cap tech shares lost ground amid lingering concerns about the Federal Reserve's aggressive monetary policy path. The benchmark Korea Composite Stock Price Index shed 13.20 points, or 0.53 percent, to 2,482.56 in the first 15 minutes of trading. Overnight, US shares rose following recent sharp losses as the Federal Reserve signaled higher borrowing rates for longer to curb inflation, sending bond yields

Sept. 26, 2023

[Graphic News] Imports of Japanese seafood dip for 5th month in Aug.

South Korean imports of Japanese seafood fell for the fifth consecutive month in August on concerns over Japan’s release of treated radioactive water, government data showed. Seoul imported $7.81 million worth of fishery products from the neighboring country last month, down 34.8 percent from a year earlier, according to the data from the Korea Customs Service. August posted the largest on-year decline this year, and last month’s import value was the smallest monthly figure in two ye

Sept. 26, 2023

Seoul shares open lower on Fed's higher-for-longer rate policy

South Korean stocks opened lower Monday on concerns about the Federal Reserve's aggressive monetary tightening for a longer-than-expected period. The benchmark Korea Composite Stock Price Index shed 9.31 points, or 0.37 percent, to 2,498.82 in the first 15 minutes of trading. The US central bank last week signaled it could hike interest rates again this year while keeping the rates unchanged. On Friday, the Dow Jones Industrial Average fell 0.31 percent, and the tech-heavy Nasdaq Composite

Sept. 25, 2023

Golden apples: Why fruit prices are national issue in early autumn

When the grip of summer loosens and the air turns cooler, Koreans pay particular attention to the price trends of two specific fruits -- apples and pears. At their freshest and most flavorful during this time, the two fruits are the quintessential autumn fruits in South Korea, but there are a few other reasons why people are particularly sensitive to their prices. A time-honored tradition during Chuseok, one of the two biggest traditional holidays here, is to prepare a table full of food offerin

Sept. 24, 2023

Seoul shares close lower amid woes over Fed's drawn-out rate hike cycle

South Korean stocks closed lower for the second consecutive day Friday amid concerns the US Federal Reserve may keep its benchmark lending rate higher for longer. The local currency climbed against the US dollar. The benchmark Korea Composite Stock Price Index had declined 6.84 points, or 0.27 percent, to finish at 2,508.13. Trading volume was moderate at 425.5 million shares worth 6.9 trillion won ($5.2 billion), with decliners outpacing winners 595 to 285. Individuals purchased a total of 206.

Sept. 22, 2023

Seoul shares open lower amid woes over Fed's drawn-out rate hike cycle

South Korean stocks started lower Friday, tracking an overnight tumble on Wall Street, amid concerns the US Federal Reserve will keep its restrictive monetary policy in place for longer than expected. The benchmark Korea Composite Stock Price Index lost 21.67 points, or 0.86 percent, to 2,493.30 in the first 15 minutes of trading. All three US stock indexes fell on Thursday as investors' risk appetite dwindled after the Fed hinted it may go for another rate hike later this year after a rate

Sept. 22, 2023

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