Hana Financial head meets with global investors in Hong Kong

The chairman of Hana Financial Group met with foreign investors through an investor relations event held in Hong Kong, Tuesday to expand the Korean banking group's presence in the global financial market. At the event, Chairman Ham Young-joo shared the financial achievements of the financial group and mid-term growth strategies while boasting its sound asset quality and environmental, social, corporate governance (ESG) efforts. The two-day event wraps up on Wednesday. He also explained the

Sept. 5, 2023

Seoul shares open lower ahead of Fed officials' view on rate policy

South Korean stocks opened lower Tuesday amid a lack of fresh leads, as investors wait to hear comments from key US federal bank officials on the outlook of the interest rate hike cycle. The benchmark Korea Composite Stock Price Index added 4.53 points, or 0.18 percent, to 2,580.02 in the first 15 minutes of trading. The US stock markets were closed Monday for Labor Day. European stocks finished almost flat as China's announcement on a stimulus to prop up the troubled property sector had li

Sept. 5, 2023

Seoul shares up for 2nd day amid growing Fed rate pause outlook

South Korean stocks closed higher for the second consecutive session Monday on growing optimism the US Federal Reserve will pause the interest rate hike in the next month's policy meeting after key unemployment data showed a cooling economy. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) advanced 20.84 points, or 0.81 percent, to finish at 2,584.55. Trading volume was moderate at 337.3 million shares worth 8.57 trillion won ($6.49 bill

Sept. 4, 2023

Seoul shares open higher amid growing Fed rate pause outlook

South Korean stocks opened higher Monday on growing expectations the US Federal Reserve will not raise the interest rate in its next policy meeting after key unemployment data reflected a cooling economy. The benchmark Korea Composite Stock Price Index (Kospi) rose 7.31 points, or 0.29 percent, to 2,571.02 in the first 15 minutes of trading. The US unemployment rate jumped to 3.8 percent in August, the Labor Department said Friday, and wage growth slowed. The fresh readings came as a reminder th

Sept. 4, 2023

Seoul shares open nearly flat amid rate pause prospects

South Korean stocks opened almost flat Friday amid the outlook that the US Federal Reserve is likely to pause the interest rate hikes in its next policy meeting in September. The benchmark Korea Composite Stock Price Index rose 0.84 points, or 0.03 percent, to 2,557.11 in the first 15 minutes of trading. Stocks fluctuated in and out of positive terrain in the 15-minute period. Wall Street ended mixed Thursday as investors cemented bets the Fed will pause the interest rate hike, after data showed

Sept. 1, 2023

Seoul shares snap 3-day rise amid US rate pause outlook

South Korean stocks closed marginally lower Thursday, snapping a three-day winning streak, amid growing expectations the US Federal Reserve may pause the interest rate hike after a set of fresh economic data signaled a cooling economy. The local currency inched up against the US dollar. The benchmark Korea Composite Stock Price Index fell 4.95 points, or 0.19 percent, to close at 2,556.27. Trading volume was moderate at 461.5 million shares worth 10.8 trillion won ($8.16 billion), with decliners

Aug. 31, 2023

Seoul shares open higher amid US rate pause outlook

South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street, as the latest US data bolstered bets that the US Federal Reserve may pause the interest rate hike in the next policy meeting. The benchmark Korea Composite Stock Price Index rose 4.57 points, or 0.18 percent, to 2,565.79 in the first 15 minutes of trading. The US economy grew at a 2.1 percent annual pace in the second quarter, falling short of a 2.4 percent expansion estimate. Payrolls in the private sector slow

Aug. 31, 2023

Seoul shares up for 3rd day on hope for Fed's rate hike pause

Seoul shares ended higher Wednesday, as investors speculate that the US Federal Reserve may pause its tightening campaign. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 9.06 points, or 0.35 percent, to close at 2,561.22. Trading volume was moderate at 356.81 million shares worth 7.64 trillion won ($5.8 billion), with gainers outnumbering decliners 461 to 395. Institutions bought a net 178.42 billion won worth of stocks, offsetting foreigners and

Aug. 30, 2023

Seoul shares open higher amid hopes for pause in US rate hikes

Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, amid hopes that the US Federal Reserve may pause its tightening campaign. The benchmark Korea Composite Stock Price Index rose 20.93 points, or 0.82 percent, to 2,573.09 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.9 percent and the tech-heavy Nasdaq Composite climbed 1.7 percent. Latest US economic data, including decreased job openings and weakened consumer confidence, has r

Aug. 30, 2023

Seoul shares end higher ahead of key economic data

Seoul shares ended higher Tuesday, tracking gains on Wall Street, with investors awaiting economic data over the next few days for clues on the outlook for global central banks' monetary policies. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 8.75 points, or 0.34 percent, to close at 2,552.16. Trading volume was moderate at 434.48 million shares worth 8.15 trillion won ($6.2 billion), with gainers outnumbering decliners 622 to 248. O

Aug. 29, 2023

Seoul shares open up on US gains ahead of key economic data

Seoul shares opened higher Tuesday, tracking gains on Wall Street, as investors await economic data over the next few days for clues on the outlook for global central banks' monetary policies. The benchmark Korea Composite Stock Price Index rose 6.29 points, or 0.25 percent, to 2,549.70 in the first 15 minutes of trading. Overnight, US stocks ended in positive territory, with the Dow Jones Industrial Average rising 0.62 percent and the tech-heavy Nasdaq Composite climbing 0.84 percent. Inve

Aug. 29, 2023

Seoul shares end higher after Fed chief's speech

Seoul shares ended higher Monday, following gains on Wall Street after the US Federal Reserve signaled a moderate course on its monetary policy in the future. The Korean won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 24.27 points, or 0.96 percent, to close at 2,543.41. Trading volume was moderate at 475.47 million shares worth 8.1 trillion won ($6.1 billion), with gainers outnumbering decliners 725 to 154. On Friday, US stocks ended higher, with the Dow Jones I

Aug. 28, 2023

Seoul shares open up after Fed chief's speech

Seoul shares opened higher Monday, tracking gains on Wall Street, as the US Federal Reserve looks set to take a cautious stance in raising rates again. The benchmark Korea Composite Stock Price Index rose 7.25 points, or 0.29 percent, to 2,526.39 in the first 15 minutes of trading. Overnight, US stocks ended in positive territory, with the Dow Jones Industrial Average rising 0.7 percent and the tech-heavy Nasdaq Composite climbing 0.9 percent. In his speech last week in Jackson Hole, Wyoming, Fe

Aug. 28, 2023

[Graphic News] Exports of agro-fisheries products fall 3.8% in H1

South Korea’s exports of farm and fisheries products fell 3.8 percent on-year in the first half of the year, data showed. Outbound shipments of agricultural and fisheries goods came to $5.95 billion in the January-June period, down from $6.19 billion a year earlier, according to the data by the Korea Agro-Fisheries & Food Trade Corp. Last year’s tally marked an all-time high for the first half of any year, and it was the first time that the figure surpassed the $6 billion mark. This

Aug. 28, 2023

[Photo News] Hanwha Ocean rebranded

Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, said Sunday that it completed the rebranding process at its Geoje shipyard in South Gyeongsang Province, almost three months after Hanwha Group took over the cash-strapped shipbuilder in May. The four gigantic orange cranes are now adorned with Hanwha Ocean’s new logo. (Hanwha Ocean)

Aug. 27, 2023

Seoul shares end lower ahead of Fed chief's speech

Seoul shares ended lower Friday, tracking losses on Wall Street, as investors await the US Federal Reserve chief's speech for any clues of its rate policy. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 18.54 points, or 0.73 percent, to close at 2,519.14. Trading volume was moderate at 569.76 million shares worth 8.19 trillion won ($6.2 billion), with decliners outnumbering gainers 488 to 367. Institutions and foreigners sold a combined 369 b

Aug. 25, 2023

Seoul shares open lower before Fed chief's speech

Seoul shares opened lower Friday, tracking losses on Wall Street, as investors await the US Federal Reserve chief's speech for clues on its rate policy. The benchmark Korea Composite Stock Price Index fell 23.46 points, or 0.92 percent, to 2,514.22 in the first 15 minutes of trading. Overnight, US stocks declined, with the Dow Jones Industrial Average falling 1.1 percent and the tech-heavy Nasdaq Composite declining 1.9 percent. Investors are keeping an eye on the speech Friday to be delive

Aug. 25, 2023

Seoul shares open sharply up on tech gains

Seoul shares opened more than 1 percent higher Thursday, tracking overnight tech gains on Wall Street, amid expectations the Bank of Korea is likely to freeze its policy rate later in the day. The benchmark Korea Composite Stock Price Index rose 27.09 points, or 1.08 percent, to 2,532.59 in the first 15 minutes of trading. Wall Street finished higher Wednesday, with the tech-heavy Nasdaq Composite rallying 1.59 percent ahead of the release of Nvidia's earnings results. The Dow Jones Industr

Aug. 24, 2023

Seoul shares end lower ahead of US chipmaker's earnings, Fed chief's address

Seoul shares ended lower Wednesday as investors await US chip giant Nvidia Corp.'s earnings results and comments from the US Federal Reserve on its monetary policy. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index declined 10.24 points, or 0.41 percent, to close at 2,505.50. Trading volume was moderate at 535.96 million shares worth 8.35 trillion won ($6.2 billion), with losers outnumbering gainers 503 to 367. Overnight, US stocks ended mixed, with

Aug. 23, 2023

Seoul shares open lower ahead of Nvidia's earnings results

Seoul shares opened lower Wednesday as investors await US chipmaking giant Nvidia Corp.'s earnings results. The benchmark Korea Composite Stock Price Index fell 5.0 points, or 0.2 percent, to 2,510.74 in the first 15 minutes of trading. Overnight, Wall Street closed mixed, with the Dow Jones Industrial Average falling 0.51 percent but the tech-heavy Nasdaq Composite inching up 0.06 percent. Nvidia's earnings results will likely have broader implications for stock markets as the tech st

Aug. 23, 2023