Most Popular
-
6
Is NewJeans headed for a long 'break'?
-
7
[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
![[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/16/20240516050605_0.jpg&u=20240516155018)
-
8
Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
-
9
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
10
New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
![[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/16/20240516050605_0.jpg&u=20240516155018)
South Korean stocks closed almost flat on Friday, amid expectations that the U.S. may hold off squeezing the size of monetary expansion, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.95 points, or 0.05 percent, to finish at 2,001.05. Trading volume was moderate of 390.1 million shares worth 5.27 trillion won ($4.68 billion) but decliners outnumbered gainers 504 to 327.
"Hopes that the Fed will delay winding down its quantitative easing (QE) kept investor sentiment positive," said Cho Byung-hyun, an analyst at Tong Yang Securities Co.
If the Fed slows down its pace of monetary easing, it may unnerve investors in the short term but can be interpreted as a good sign since it means that the U.S. policymakers have become more confident about an economic recovery, Cho added.
Foreigners scooped up local equities worth a net 159.9 billion won, extending its buying binge for the third consecutive session.
In contrast, retail investors opted to sell off their holdings, worth a net 206.8 billion won.
Shipping lines and telecom stocks propped up the KOSPI's gain.
Hyundai Merchant Marine, the No. 2 shipping firm, spiked 7.8 percent to 11,750 won and leading mobile carrier SK Telecom jumped 2.44 percent to 209,500 won.
Large-caps traded mixed. Market behemoth Samsung Electronics lost 0.39 percent to 1,538,000 won, while Hyundai Motor climbed 1.43 percent to 212,500 won.
Shares of major banking groups finished bearish, as the Seoul prosecution and financial authorities have launched a probe into one of the leading lenders' possible involvement in a family-owned conglomerate's borrowed-name accounts.
Woori Finance Holdings, the biggest by assets, slid 2.05 percent to 11,950 won and No. 3 player Hana Financial Group dropped 1.8 percent to 38,200 won.
The local currency ended at 1,129.70 won against the greenback, down 2.3 won from Thursday's close, amid a continuing appreciation of the U.S. currency, dealers said.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasuries climbed 0.03 percentage point to 2.78 percent and the return on the benchmark five-year government bonds rose 0.05 percentage point to 2.90 percent. (Yonhap News)
The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.95 points, or 0.05 percent, to finish at 2,001.05. Trading volume was moderate of 390.1 million shares worth 5.27 trillion won ($4.68 billion) but decliners outnumbered gainers 504 to 327.
"Hopes that the Fed will delay winding down its quantitative easing (QE) kept investor sentiment positive," said Cho Byung-hyun, an analyst at Tong Yang Securities Co.
If the Fed slows down its pace of monetary easing, it may unnerve investors in the short term but can be interpreted as a good sign since it means that the U.S. policymakers have become more confident about an economic recovery, Cho added.
Foreigners scooped up local equities worth a net 159.9 billion won, extending its buying binge for the third consecutive session.
In contrast, retail investors opted to sell off their holdings, worth a net 206.8 billion won.
Shipping lines and telecom stocks propped up the KOSPI's gain.
Hyundai Merchant Marine, the No. 2 shipping firm, spiked 7.8 percent to 11,750 won and leading mobile carrier SK Telecom jumped 2.44 percent to 209,500 won.
Large-caps traded mixed. Market behemoth Samsung Electronics lost 0.39 percent to 1,538,000 won, while Hyundai Motor climbed 1.43 percent to 212,500 won.
Shares of major banking groups finished bearish, as the Seoul prosecution and financial authorities have launched a probe into one of the leading lenders' possible involvement in a family-owned conglomerate's borrowed-name accounts.
Woori Finance Holdings, the biggest by assets, slid 2.05 percent to 11,950 won and No. 3 player Hana Financial Group dropped 1.8 percent to 38,200 won.
The local currency ended at 1,129.70 won against the greenback, down 2.3 won from Thursday's close, amid a continuing appreciation of the U.S. currency, dealers said.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasuries climbed 0.03 percentage point to 2.78 percent and the return on the benchmark five-year government bonds rose 0.05 percentage point to 2.90 percent. (Yonhap News)
