Seoul shares open higher amid mixed signals for US rate cut

South Korean stocks opened higher Monday while investors remained watchful over mixed signals for the US Federal Reserve's future monetary policy. The benchmark Korea Composite Stock Price Index rose 9.42 points, or 0.35 percent, to 2,737.05 in the first 15 minutes of trading. Last week, the Dow Jones Industrial Average gained ground for the fourth consecutive week, and the S&P 500 and the tech-heavy Nasdaq posted increases for the third straight week. But on Friday, Wall Street closed

May 13, 2024

Seoul shares end higher on rate-cut hopes after jobs data

Seoul shares ended higher Friday after the latest jobs data supported the case for US rate cuts this year. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 15.49 points, or 0.57 percent, to close at 2,727.63. The main index has risen 1.9 percent this week. Trading volume was moderate at 568.36 million shares worth 11.07 trillion won ($8.09 billion), with gainers outpacing losers 489 to 365. The number of US unemployment claims jumped last week to th

May 10, 2024

Seoul shares open higher on Fed's rate-cut hopes

Seoul shares opened higher Friday, tracking gains on Wall Street, after weekly US jobless claims data offered fresh hope for the Federal Reserve's rate cuts this year. The benchmark Korea Composite Stock Price Index rose 28.15 points, or 1.04 percent, to 2,740.29 in the first 15 minutes of trading. The number of US jobless claims jumped last week to the highest level in more than eight months, renewing hopes for the Fed's rate cuts. Overnight, the Dow Jones Industrial Average increased

May 10, 2024

Seoul shares dip over 1% amid US rate uncertainties

South Korean shares declined by more than 1 percent Thursday as investors remained concerned over the future course of the US key rates ahead of the release of inflation data next week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 32.91 points, or 1.2 percent, to close at 2,712.14. Trading volume was moderate at 413 million shares worth 10.9 trillion won ($7.95 billion), with losers outpacing gainers 531 to 355. Foreign investors offloaded a

May 9, 2024

Seoul shares open flat ahead of US inflation data

South Korean shares opened nearly flat Thursday as investors sat on the sidelines ahead of the release of the U.S. consumer price index next week. The benchmark Korea Composite Stock Price Index edged down 1.9 points, or 0.07 percent, to 2,743.15 in the first 15 minutes of trading. Investors remained cautious ahead of the release of the U.S. inflation data amid a mixed forecast over the future course of the Federal Reserve's key rates. Federal Reserve Bank of Boston President Susan Collins

May 9, 2024

Seoul shares up for 2nd day amid US rate cut concerns

Seoul shares ended higher Wednesday as investors remain watchful over whether the US Federal Reserve will slash key rates this year. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.69 points, or 0.39 percent, to close at 2,745.05. Trading volume was moderate at 424.75 million shares worth 10.09 trillion won ($7.4 billion), with winners outpacing losers 575 to 280. Institutions and foreigners bought a combined 434.7 billion won worth of stocks, o

May 8, 2024

Seoul shares open higher on institutional buying

Seoul shares opened higher Wednesday on institutional buying, with investors staying watchful on whether the US Federal Reserve will slash key rates this year. The benchmark Korea Composite Stock Price Index rose 3.65 points, or 0.13 percent, to 2,738.01 in the first 15 minutes of trading. Overnight, US stocks ended nearly flat. The Dow Jones Industrial Average inched up 0.08 percent at 38,884.26, and the tech-heavy Nasdaq fell 0.1 percent to 16,332.56. Institutions and individuals bought a comb

May 8, 2024

Seoul shares soar over 2% on looming hopes for US rate cuts

South Korean shares shot up over 2 percent Tuesday as investors were buoyed by growing hopes that the U.S. Federal Reserve may carry out rate cuts this year. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index jumped 57.73 points, or 2.16 percent, to close at 2,734.36. Trading volume was moderate at 523 million shares worth 10.9 trillion won ($8 billion), with winners outpacing losers 582 to 285. Investor sentiment was boosted by growing hope that t

May 7, 2024

Seoul shares open higher on US rate cut hopes

South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street, as investors were buoyed by looming hopes that the US Federal Reserve may slash key rates this year. The benchmark Korea Composite Stock Price Index added 49.32 points, or 1.84 percent, to 2,725.95 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.46 percent higher, and the tech heavy Nasdaq rose 1.19 percent. The S&P 500 gained 1.03 percent In Seoul, top tech giant Sams

May 7, 2024

Seoul shares close lower ahead of US employment data

South Korean shares closed slightly lower Friday as investors took to the side ahead of US employment data. The local currency rebounded against the US dollar. The benchmark Korea Composite Stock Price Index shed 7.02 points, or 0.26 percent, to close at 2,676.63. Trading volume was slim at 329.8 million shares worth 7.7 trillion won ($5.65 billion), with losers outnumbering gainers 477 to 390. The index had opened higher, tracking overnight gains on Wall Street that followed dovish remarks from

May 3, 2024

Seoul shares open higher on Wall Street gains

South Korean shares opened higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 14.63 points, or 0.55 percent, to 2,698.28 in the first 15 minutes of trading. The Dow Jones Industrial Average closed 0.85 percent higher Thursday, while the Nasdaq rose 1.51 percent on dovish remarks from US Federal Reserve Chair Jerome Powell suggesting there will unlikely be a rate hike in the near future. In Seoul, most large caps were in positive terrain.

May 3, 2024

Seoul shares snap 3-day rise after FOMC decision

South Korean stocks fell slightly Thursday following the US Federal Reserve's decision to hold the key rate flat. The Korean won rebounded against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.41 points, or 0.31 percent, to 2,683.65, ending the three-session winning streak that started last Friday. Trade volume was slim at 342.7 million shares worth 8.9 trillion won ($6.5 billion). Decliners outnumbered gainers 513 to 357. Individual and foreign investors bought a ne

May 2, 2024

Global X Canada debuts as Mirae Asset aims unified global ETF brand

Mirae Asset Global Investments announced Thursday that its Canadian exchange-traded fund subsidiary, Horizons ETFs, is rebranded as Global X Canada, aligning with an integrative strategy of its global ETF offerings under the unified brand, Global X. Since being acquired by Mirae Asset Global Investments in 2011, the Canadian ETF firm has witnessed substantial growth in assets under management. AUM have escalated by 963 percent, growing from approximately 3 billion Canadian dollars ($2.2 billio

May 2, 2024

Seoul shares open lower on Fed's rate freeze

South Korean stocks started lower Thursday following the US Federal Reserve's rate-freeze decision. The benchmark Korea Composite Stock Price Index lost 7.6 points, or 0.28 percent, to 2,684.46 in the first 15 minutes of trading. On Wall Street, US stocks closed mixed after the central bank held the key interest rate flat and signaled a future rate cut, citing volatile inflation. The Dow Jones Industrial Average rose 0.23 percent, and the Nasdaq Composite dropped 0.33 percent. In Seoul, chi

May 2, 2024

[KH Explains] Will alternative trading platform shake up Korean stock market?

Korea’s stock market is set to enter a new phase with the upcoming launch of the first alternative trading system for the Korea Exchange, the nation’s sole bourse operator that has enjoyed almost 70 years of monopoly. Nextrade, a consortium of 34 securities and tech firms established in November 2022, aims to earn the final regulatory approval within the year for its official debut in the first quarter of next year. More than 20 brokerage houses here have already expressed their inte

May 1, 2024

Seoul shares up for 3rd day on Samsung, batteries

South Korean stocks finished up for a third consecutive session Tuesday backed by a strong earnings performance by top cap Samsung Electronics and overnight US stock gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 4.62 points, or 0.17 percent, to 2,692.06. Trade volume was moderate at 450 million shares worth 11.1 trillion won ($8.03 billion). Winners outpaced losers 439 to 408. Institutions and foreign investors combined bought a net 52

April 30, 2024

Seoul shares open higher on Samsung

South Korean stocks opened slightly higher Tuesday backed by strong earnings performance by top cap Samsung Electronics and overnight US stock gains. The benchmark Korea Composite Stock Price Index gained 7.81 points, or 0.29 percent, to 2,665.25 in the first 15 minutes of trading. Samsung Electronics, the world's largest memory chip manufacturer, announced earlier in the day its first quarter operating profit shot up more than tenfold from a year ago in the first quarter, with its chip bus

April 30, 2024

Seoul shares jump over 1% on battery, chemical stocks

Seoul shares closed over 1 percent higher Monday on advances in battery and chemical shares amid a slump in techs. The local currency slightly fell against the US dollar. The benchmark Korea Composite Stock Price Index added 31.11 points, or 1.17 percent, to close at 2,687.44. Trade volume was moderate at 461 million shares worth 10.2 trillion won ($7.4 billion), with gainers outnumbering losers 719 to 165. Foreigners remained net buyers for a second consecutive session, scooping up a net 415.9

April 29, 2024

Seoul shares open higher on large cap gains

South Korean stocks opened higher Monday on large cap gains, tracking advances on Wall Street last week. The benchmark Korea Composite Stock Price Index added 13.6 points, or 0.51 percent, to 2,669.93 in the first 15 minutes of trading. The advance follows Wall Street gains last week. The Dow Jones Industrial Average closed 0.4 percent higher Friday, while the tech-heavy Nasdaq spiked 2.03 percent. In Seoul, most large caps were in positive terrain. Market bellwether Samsung Electronics went up

April 29, 2024

S. Korean stock markets' trading volume down 11% in April

South Korean stock markets' trading volume dipped 11 percent in April from a month earlier amid growing uncertainties, including the geopolitical tension stemming from the Middle East, data showed Sunday. The combined daily average trading volume in the main Kospi, tech-heavy KOSDAQ and small businesses-focused KONEX markets, came to 20.2 trillion won ($14.6 billion) in April as of Friday, according to the Korea Exchange, the country's bourse operator. The amount marked an 11 percent d

April 28, 2024