Seoul shares close higher as investors search for clues about Fed's rate policy

Seoul shares ended higher Friday as investors waited for clues about the direction of the US rate decision with key data due later in the day. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 8.02 points, or 0.29 percent, to 2,792.08. Trade volume was moderate at 601.1 million shares worth 10.8 trillion won ($7.8 billion), with winners outnumbering losers 578 to 294. Foreigners and institutions purchased local shares worth 29.2 billion

June 28, 2024

Seoul shares open tad higher ahead of key US data

Seoul shares opened a tad higher Friday ahead of the release of the Federal Reserve's preferred gauge of inflation. The benchmark Korea Composite Stock Price Index added 2.61 points, or 0.09 percent, to 2,786.67 in the first 15 minutes of trading. Overnight, Wall Street closed slightly higher, as the US personal consumption expenditures (PCE) price index for May is set to be released Friday, the latest data for any clues on the Fed's monetary policy direction. In Seoul, market bellweth

June 28, 2024

Seoul shares end lower on chip slump after Micron earnings

Seoul shares closed lower Thursday amid investors' disappointment on Micron Technology's earnings results. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 7.99 points, or 0.29 percent, to 2,784.06. Trade volume was moderate to a little slim at 387.4 million shares worth 10.1 trillion won ($7.3 billion), with losers far outnumbering winners 619 to 262. Foreigners and retail investors purchased local shares worth 509.5 billion

June 27, 2024

Seoul shares open lower on tech, auto losses

Seoul shares opened lower Thursday despite overnight gains on Wall Street as big-cap tech stocks started off weak. The benchmark Korea Composite Stock Price Index fell 24.58 points, or 0.88 percent, to 2,767.47 in the first 15 minutes of trading. Overnight, Wall Street closed higher, mainly driven by megacap tech shares' performance. But Micron Technology declined after earnings results failed to meet investors' expectations. In Seoul, market bellwether Samsung Electronics lost 0.74 pe

June 27, 2024

Seoul shares end higher driven by tech gains

Seoul shares closed higher Wednesday as big-cap tech shares gained ground tracking a US tech rebound. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index increased 17.66 points, or 0.64 percent, to 2,792.05. Trade volume was moderate at 524.6 million shares worth 11.02 trillion won ($7.9 billion), with losers outnumbering winners 510 to 355. Foreigners purchased 502.6 billion won worth of shares, offsetting retail investors and institutions' sale o

June 26, 2024

Seoul shares open lower led by tech, financial stocks

Seoul shares opened lower Wednesday as big-cap tech and auto shares started in negative territory. The benchmark Korea Composite Stock Price Index fell 5.23 points, or 0.19 percent, to 2,769.16 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.76 percent, while the Nasdaq Composite and S&P 500 gained 1.26 percent and 0.39 percent, respectively, as megacap tech shares gained ground. In Seoul, tech behemoth Samsung Electronics lost 0.87 percent, while No. 2

June 26, 2024

Seoul shares close higher on bargain hunting

Seoul shares closed higher Tuesday as investors hunted for bargains, with logistics and automobile shares leading the overall gains. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index added 9.66 points, or 0.35 percent, to 2,774.39. Trade volume was moderate at 703.6 million shares worth 11.4 trillion won ($8.2 billion), with gainers outnumbering losers 492 to 375. Foreigners sold a net 143.5 billion won, while individuals offloaded a net 304 billion won

June 25, 2024

Seoul shares open higher on autos, chemicals

Seoul shares opened higher Tuesday as investors scooped up auto and chemical shares, despite a slump in technology shares on Wall Street. The benchmark Korea Composite Stock Price Index fell 6.69 points, or 0.24 percent, to 2,771.42 in the first 15 minutes of trading. Overnight, the Nasdaq Composite plunged 1.09 percent, and the Dow Jones Industrial Average added 0.67 percent. Nvidia, which briefly shot up to become the most valuable firm last week, plunged 6.68 percent, with other technology fi

June 25, 2024

Seoul shares down for 2nd day on SK hynix, batteries

Seoul shares closed lower Monday as SK hynix plunged by nearly 5 percent and battery makers remained in negative terrain. The benchmark Korea Composite Stock Price Index fell 19.53 points, or 0.7 percent, to 2,764.73. Trade volume was moderate at 580.2 million shares worth 10.8 trillion won ($7.8 billion), with losers outnumbering winners 637 to 233. Foreigners and institutions sold local shares worth 386 billion won and 94.4 billion won, respectively, while retail investors purchased 464.7 bill

June 24, 2024

Seoul shares open lower ahead of key US data, earnings releases

Seoul shares opened lower Monday, after a mixed close on Wall Street, as investors remained cautious ahead of key US data and corporate earnings. The benchmark Korea Composite Stock Price Index fell 6.68 points, or 0.24 percent, to 2,777.58 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average edged up 0.04 percent, while the Nasdaq Composite and S&P 500 fell 0.16 percent and 0.18 percent, respectively, as big-cap tech shares took a breather following a rally. Inves

June 24, 2024

Seoul shares snap 3-day rise on profit taking

Seoul shares closed lower Friday on profit taking after a three-session winning streak. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 23.37 points, or 0.83 percent, to close at 2,784.26. The Kospi has risen 0.9 percent this week. Trade volume was heavy at 617.53 million shares worth 14.12 trillion won ($10.1 billion), with decliners outnumbering gainers 577 to 296. Institutions and foreigners sold a combined 365 billion won worth of stocks, offse

June 21, 2024

Seoul shares open lower on profit taking

Seoul shares opened lower Friday, after a mixed close on Wall Street, as investors offloaded tech and other large-cap stocks on profit taking following a three-session winning streak. The benchmark Korea Composite Stock Price Index fell 19.81 points, or 0.71 percent, to 2,787.82 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.8 percent to 39,134.76 points and the tech-heavy Nasdaq Composite fell 0.8 percent to 17,721.59. In Seoul, tech stocks were lead decl

June 21, 2024

Seoul shares up for 3rd day to exceed 2,800 on tech gains

Seoul shares ended higher for the third consecutive session to exceed 2,800 points for the first time in about 2 1/2 years Thursday on tech gains despite concerns over the possible delay of long-awaited US interest rate cuts. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.3 points, or 0.37 percent, to close at 2,807.63. The closing index exceeded the 2,800 level for the first time since Jan. 24, 2022, when the comparable reading was 2,828.11. T

June 20, 2024

S. Korea's auto exports hit record high in May

South Korea's car exports rose 4.8 percent on-year last month to reach a record high for any May, driven by solid demand for eco-friendly vehicles, data showed Thursday. The combined value of car shipments came to $6.5 billion in May, beating the previous record for any May set in 2023, when the value stood at $6.23 billion, according to the Ministry of Trade, Industry and Energy. In terms of volume, car exports advanced 2.9 percent on-year to come to 254,496 units last month. The increase

June 20, 2024

Seoul shares open higher on tech gains

Seoul shares opened higher Thursday, after a holiday in the US, helped by tech gains amid concerns over the possible delay of a long-awaited interest rate cut by the US Federal Reserve. The benchmark Korea Composite Stock Price Index rose 7.46 points, or 0.27 percent, to 2,804.79 in the first 15 minutes of trading. US stock markets were closed on Juneteenth on Wednesday to commemorate the end of slavery in the US The Fed recently pared back projections for rate cuts this year. In Seoul, tech sto

June 20, 2024

Seoul shares up for 2nd day on tech stocks

Seoul shares advanced by more than 1 percent Wednesday as investors scooped up tech stocks following a rally on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index added 33.41 points, or 1.21 percent, to close at 2,797.33. The closing index marks the highest since Jan. 21, 2022, when the comparable reading was 2,834.29. Trade volume was heavy at 635.72 million shares worth 13.86 trillion won ($10.03 billion), with losers outnumbering winners 53

June 19, 2024

Seoul shares open higher on tech gains

Seoul shares opened higher Wednesday as investors scooped up tech stocks following a surge in US chipmakers. The benchmark Korea Composite Stock Price Index rose 28.31 points, or 1.02 percent, to 2,792.23 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.2 percent to 38,834.86, and the tech-heavy Nasdaq Composite gained 0.03 percent to 17,862.23. Nvidia Corp. surpassed Microsoft Corp. to become the world's most-valuable company for the first time. In Seo

June 19, 2024

Seoul shares hit over 2-yr high on strong foreign buying

South Korean stocks closed higher to end at an over two-year high Tuesday as foreign investors scooped up blue chips after a tech-led rally on Wall Street. The local currency advanced slightly against the US dollar. The benchmark Korea Composite Stock Price Index increased 19.82 points, or 0.72 percent, to close at 2,763.92, rebounding from a 0.52 percent drop the previous day. The closing index marks the highest since Feb. 20, 2022, when the comparable reading was 2,771.93. Trade volume was mod

June 18, 2024

Seoul shares open higher on US gains

South Korean stocks opened sharply higher Tuesday following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 25.01 points, or 0.91 percent, to 2,769.11 in the first 15 minutes of trading. In the United States, Wall Street's main indices finished bullish, led by tech shares. The Dow Jones Industrial Average gained 0.49 percent, and the tech-heavy Nasdaq Composite advanced 0.95 percent. In Seoul, large caps led the strong opening. Samsung Electronics added

June 18, 2024

Seoul shares snap 4-day rise amid rate-cut delay prospects

Seoul shares ended lower Monday to snap a four-session winning streak, amid speculations over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 14.32 points, or 0.52 percent, to close at 2,744.10. Trade volume was moderate at 545 million shares worth 12.2 trillion won ($8.8 billion), with losers outnumbering gainers 522 to 359. Individuals bought a net 313 billion won wort

June 17, 2024