South Korean stocks opened higher Tuesday on a breakthrough in US debt ceiling negotiations. The benchmark Korea Composite Stock Price Index added 17.36 points, or 0.68 percent, to 2,576.17 in the first 15 minutes of trading. Over the weekend, US President Joe Biden and House Speaker Kevin McCarthy agreed to raise the nation's debt ceiling. Now, the deal would need to get enough bipartisan support in Congress before the June 5 deadline to avert a potentially devastating federal default. Sou

Foreign purchases of South Korean tech and auto stocks have reached over 16 trillion won ($12 billion) so far this year, according to the Korea Exchange on Monday. Foreigners bought 16.45 trillion won worth of Samsung Electronics Co., Hyundai Motor Co. and other related stocks this year through May 26, according to the main bourse. In the first five months, foreigners bought 9.78 trillion won worth of Samsung Electronics stocks, followed by 1.26 trillion won worth of Hyundai Motor shares, 1.1 tr

While foreign investors are scooping up major tech shares, retail investors in Korea are continuing to bet on a battery boom, anticipating further growth for the industry. Earlier this year, share prices of battery-related firms soared, as Korean battery firms are expected to benefit from the US Inflation Reduction Act with tax incentives when battery materials are processed there. Reflecting the outlook, the top shares bought by retail investors on the Korean stock market from Jan. 2 to May 2

Shares of Samsung, SK hynix soar in hopes of chip rebound

South Korean stocks ended slightly higher Friday, as chip giants rose sharply on hopes for a market turnaround despite concerns about a deal on the United States' debt ceiling. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 4.12 points, or 0.16 percent, to close at 2,558.81, ending a two-day decline. Trading volume was a bit slim at 618.73 million shares worth 9.26 trillion won ($6.99 billion), with losers far outpacing gainers 672 to

South Korean stocks opened a tad higher Friday on sharp gains of major chipmakers amid lingering uncertainties over negotiations on the United States' debt ceiling to avoid a default. The benchmark Korea Composite Stock Price Index added 3.77 points, or 0.15 percent, to 2,558.46 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite jumped 1.71 percent, after Nvidia surged more than 24 percent after the company posted stronger-than-expected revenue guidance. But the

South Korean stocks ended lower for the second day in a row Thursday, as uncertainties linger over talks on the United States' debt ceiling to avoid a federal default. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 12.76 points, or 0.5 percent, to close at 2,554.69. Trading volume was moderate at 903.89 million shares worth 9.27 trillion won ($6.99 billion), with losers outpacing gainers 681 to 182. The index opened slightly higher, despi

South Korean stocks opened slightly higher Thursday, led by big-cap tech gains, despite uncertainties over the United States' debt ceiling negotiations. The benchmark Korea Composite Stock Price Index added 3.01 points, or 0.12 percent, to 2,570.46 in the first 15 minutes of trading. Overnight, US shares ended lower as negotiations on the US' debt ceiling drag on, with just eight days left till the June 1 deadline. The Dow Jones Industrial Average lost 0.77 percent, and the tech-heavy

South Korean stocks ended nearly flat after a seven-day rise Wednesday, as uncertainties linger over talks on the United States' debt ceiling to avoid a federal default. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 0.10 points, or 0.0 percent, to close at 2,567.45. Trading volume was moderate at 1.06 billion shares worth 7.79 trillion won ($5.91 billion), with losers outpacing gainers 460 to 397. Institutions sold a net 185.5 billion wo

South Korean stocks opened higher Tuesday on the back of gains in big-cap tech and chemical shares. The benchmark Korea Composite Stock Price Index added 9.37 points, or 0.37 percent, to 2,556.45 in the first 15 minutes of trading. Overnight, US shares ended mixed as investors were awaiting the development regarding talks on a debt ceiling deal to avert a federal default. The Dow Jones Industrial Average lost 0.42 percent, while the tech-heavy Nasdaq Composite rose 0.5 percent. US House Speaker

South Korean stocks ended markedly higher Monday to extend their winning streak to a sixth session as investors were optimistic about a deal on the United States' debt ceiling to avoid a federal default. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 19.29 points, or 0.76 percent, to close at 2,557.08. Trading volume was a bit slim at 583.13 million shares worth 8.04 trillion won ($6.09 billion), with gainers outpacing decliners 634 to 2

South Korean stocks opened higher Monday, led by big-cap tech and auto shares, as talks for the United States' debt ceiling deal were to resume soon. The benchmark Korea Composite Stock Price Index added 9.18 points, or 0.36 percent, to 2,546.97 in the first 15 minutes of trading. US President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet Monday to seek a breakthrough regarding their debt ceiling negotiations, according to foreign media reports. On Friday, the negotiation

South Korea's largest dental implant maker announced Thursday it will discuss the firm's delisting from the secondary bourse Kosdaq at its extraordinary general meeting slated for June 28. Osstem Implant plans to initiate the delisting application process once the resolution is passed at the general meeting that will be attended by private equity funds Unison Capital Korea and MBK Partners, the firm's largest shareholders. The MBK Partners-Unison Capital Korea consortium has acq

Seoul shares opened higher Friday, tracking Wall Street gains overnight, amid hopes that the US government will be able to avert a debt default. The benchmark Korea Composite Stock Price Index rose 10.5 points, or 0.42 percent, to 2,525.9 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.3 percent to 33,535.91, and the tech-heavy Nasdaq Composite climbed 1.5 percent to 12,688.84. The US government needs to lift the debt ceiling to cover its future spending pl

South Korean stocks rose to an over two-week high Thursday as investor sentiment was buoyed by rising hopes that Washington would reach a deal on the debt ceiling. The Korean won gained ground against the greenback. The benchmark Korea Composite Stock Price Index rose 20.74 points, or 0.83 percent, to finish at 2,515.4. It is the highest closing point since 2,524.39 on May 2. Trading volume was moderate at 558.3 million shares worth 7.64 trillion won ($5.72 billion), with winners far outnumberin