Seoul shares open sharply higher on US stock gains

South Korean stocks opened stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed up 46.43 points, or 1.77 percent, to 2,669.45 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 1.2 percent and the tech-heavy Nasdaq jumped 1.59 percent, while the Dow Jones Industrial Average gained 0.69 percent, as tech heavyweights lifted the broader US stock market.

April 24, 2024

Seoul shares fall on foreign selling despite overnight US gains

South Korean stocks finished slightly lower Tuesday as foreign investors took profit despite overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.42 points, or 0.24 percent, to 2,623.02. Trade volume was moderate at 316 million shares worth 9.43 trillion won ($6.84 billion). Winners, however, outpaced losers 671 to 403. Foreign investors sold a net 288.8 billion won, while institutions and individuals combined bought a

April 23, 2024

Seoul shares open higher on tech, auto gains

South Korean stocks opened slightly higher Tuesday as investors picked up tech and auto shares following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index edged up 4.4 points, or 0.17 percent, to 2,633.84 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 0.9 percent and the tech-heavy Nasdaq jumped 1.1 percent, while the Dow Jones Industrial Average gained 0.7 percent, as investors looked forward to positive first-quarter corporate e

April 23, 2024

Seoul shares rise 1.4% on financial, auto gains

South Korean stocks rose over 1.4 percent Monday as financial, auto and other blue chips advanced after last week's overall market decline amid eased tensions in the Middle East. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 37.58 points, or 1.45 percent, to close at 2,629.44. Trade volume was moderate at 389 million shares worth 10.85 trillion won ($7.86 billion), with winners outpacing gainers 659 to 226. Lee Kyung-min, an analyst at Da

April 22, 2024

Seoul shares open higher on financial, bio gains

South Korean stocks opened higher Monday as investors scooped up financials, bios and other blue chips following last week's overall market decline amid eased tensions in the Middle East. The benchmark Korea Composite Stock Price Index gained 32.11 points, or 1.24 percent, to trade at 2,623.97 in the first 15 minutes of trading. Financial stocks led the overall bullish market, with KB Financial surging 5.49 percent and Shinhan Financial soaring 5.39 percent. Bio shares also gained strong mo

April 22, 2024

Seoul shares rattled by Israeli attack on Iran; Kospi dips to nearly 11-week low

The South Korean market on Friday faced heightened volatility in response to Israel's military actions against Iran, with the benchmark Korea Composite Stock Price Index plunging to its lowest level in 11 weeks. The dip coincided with a weakening of the local currency. The Kospi concluded the day at 2591.86, marking a marginal decrease of 1.63 percent from the previous session. Initially opening at 2,600.69, a decrease of 34.01 from the prior session, the index experienced a sharp downturn

April 19, 2024

Seoul shares dip over 1.5% on escalating Israel-Iran tensions; won sharply down

South Korean stocks plummeted by more than 1.5 percent on Friday as investors shed risky assets on escalating tensions in the Middle East. The Korean won fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index dropped 42.84 points, or 1.63 percent, to close at 2,591.86, trimming some of the losses after falling more than 3 percent during the session. Trade volume was high at 799 million shares worth 13.85 trillion won (US$10 billion), with losers outpacing gainers 629

April 19, 2024

Seoul shares open sharply lower amid waning hope for early rate cuts

South Korean stocks started sharply lower Friday amid expectations over a delay in US interest rate cuts this year. The benchmark Korea Composite Stock Price Index fell 37 points, or 1.4 percent, to 2,597.7 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average edged up 0.06 percent, while the tech-heavy Nasdaq decreased 0.52 percent, extending losses for a fifth consecutive month. New York Federal Reserve President John Williams has said that he feels no urgency to cut

April 19, 2024

Seoul shares spike nearly 2% on bargain hunting; won sharply up

South Korean stocks soared almost 2 percent Thursday as investors bought bargains after four consecutive sessions of decline amid ongoing geopolitical risks in the Middle East and speculation about delays in US interest rate cuts. The Korean won rebounded sharply against the US dollar. The benchmark Korea Composite Stock Price Index gained 50.52 points, or 1.95 percent, to close at 2,634.7. Trade volume was moderate at 466 million shares worth 10.2 trillion won ($7.47 billion), with gainers far

April 18, 2024

Seoul shares open higher amid woes over rate cut delay

South Korean stocks started higher Thursday as investors hunted for bargains following a recent decline amid speculations over a potential delay in US interest rate cuts this year. The benchmark Korea Composite Stock Price Index gained 26.08 points, or 1.01 percent, to 2,610.26 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.12 percent and the tech-heavy Nasdaq declined 1.15 percent. The Federal Reserve said in the Beige Book that the economy has expanded s

April 18, 2024

Seoul shares down for 4th day on geopolitical, rate policy woes

South Korean stocks dipped nearly 1 percent Wednesday to expand their losing streak to a fourth day as investors' concerns heightened on hawkish remarks by US Federal Reserve officials and escalating tension in the Middle East. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index plunged 25.45 points, or 0.98 percent, to close at 2,584.18. Trade volume was a little slim at 400.5 million shares worth 9.5 trillion won (US$6.8 billion), with decliners outp

April 17, 2024

Seoul shares open higher on bargain hunting

South Korean stocks started higher Wednesday as investors hunted for bargains following a sharp slide the previous day sparked by escalating tensions in the Middle East. The benchmark Korea Composite Stock Price Index gained 8.58 points, or 0.33 percent, to 2,618.21 in the first 15 minutes of trading. Overnight, the S&P 500 fell 0.2 percent and the tech-heavy Nasdaq edged down 0.1 percent, while the Dow Jones Industrial Average gained 0.2 percent. US Federal Reserve Chair Jerome Powell said

April 17, 2024

Seoul shares sink over 2% on escalating tension in Middle East

South Korean stocks sank more than 2 percent Tuesday as Israel warned of a retaliation over Iran's drone and missile attack over the weekend. The Korean won also fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index plunged 60.8 points, or 2.28 percent, to close at 2,609.63. Trade volume was moderate at 557 million shares worth 11.9 trillion won ($8.48 billion), with decliners outpacing gainers 771 to 124. Foreigners offloaded a net 272 billion won, while indiv

April 16, 2024

Seoul shares open sharply lower as Israel warns of retaliation

South Korean stocks started sharply lower Tuesday tracking overnight losses on Wall Street amid the escalating tension between Israel and Iran. The benchmark Korea Composite Stock Price Index dropped 36.34 points, or 1.36 percent, to 2,634.09 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.65 percent and the tech-heavy Nasdaq declined 1.79 percent. Tensions continued to escalate in the Middle East after Israel warned of retaliation after Iran conducted a dr

April 16, 2024

Seoul shares close lower amid growing Middle East tension; won at 17-month low

South Korean stocks fell 0.42 percent Monday due to heightened geopolitical uncertainties in the Middle East following Iran's recent drone and missile attacks on Israel. The Korean won fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index plunged 11.39 points, or 0.42 percent, to close at 2,670.43, after falling as low as 2,641.16 at one point. Trade volume was moderate at 552 million shares worth 10.3 trillion won ($7.45 billion), with decliners outpacing gain

April 15, 2024

Seoul shares open sharply lower on Iran's attack against Israel

South Korean stocks started sharply lower Monday amid growing geopolitical instability in the Middle East sparked by Iran's missile and drone strikes against Israel. The benchmark Korea Composite Stock Price Index dropped 33.9 points, or 1.26 percent, to 2,647.92 in the first 15 minutes of trading. Iran conducted the attack Saturday in retaliation for Israel's airstrike on Iran's diplomatic complex in Syria earlier this month. Tech shares opened bearish, with Samsung Electronics f

April 15, 2024

Seoul shares open lower despite US gains

South Korean stocks started lower Friday despite overnight US gains as investors await the Bank of Korea's rate decision later in the day. The benchmark Korea Composite Stock Price Index dropped 16.61 points, or 0.61 percent, to 2,690.35 in the first 15 minutes of trading. Overnight, the Nasdaq Composite jumped 1.7 percent and the S&P 500 rose 0.7 percent on a tech rally, while the Dow Jones Industrial Average was almost flat. Apple soared 4.3 percent, Nvidia surged 4.1 percent, and Amazon c

April 12, 2024

Seoul shares close almost flat despite higher US inflation; won sharply down

South Korean stocks ended almost flat Thursday thanks to gains in techs and autos despite higher-than-expected US inflation that dimmed hopes for the Federal Reserve's early rate cuts. The Korean won sharply fell to the lowest point in 17 months against the US dollar. After starting 1.45 percent lower, the benchmark Korea Composite Stock Price Index pared earlier losses by rising 1.8 points, or 0.07 percent, to close at 2,706.96. Trade volume was moderate at 522.4 million shares worth 12.5

April 11, 2024

Seoul shares open sharply lower on higher US inflation

South Korean stocks started sharply lower Thursday as higher-than-expected US inflation data poured cold water on investors' hopes for early rate cuts. The benchmark Korea Composite Stock Price Index plunged 39.34 points, or 1.45 percent, to 2,665.82 in the first 15 minutes of trading. Overnight, major US indexes lost ground as the release of a key measure of inflation dashed investors' hopes that the Federal Reserve may start cutting its rates soon. The US' consumer price index f

April 11, 2024

Seoul shares close lower ahead of parliamentary elections, US inflation data

South Korean stocks ended lower Tuesday as investors grew more cautious ahead of parliamentary elections and the release of key US inflation data later this week. The Korean won fell against the US dollar. After starting higher, the benchmark Korea Composite Stock Price Index lost 12.49 points, or 0.46 percent, to close at 2,705.16. Trade volume was moderate at 458.4 million shares worth 9.48 trillion won ($6.99 billion), with decliners outpacing gainers 489 to 370. Institutions bought stocks wo

April 9, 2024