South Korea received a top rating in an environment, social and governance assessment conducted by US credit rating agency Moody’s Investors Service, according to the Ministry of Economy and Finance on Tuesday. Moody’s has recently announced a list of 144 countries assessing their capabilities in handling ESG issues, with five classifications, including “positive” at the top and “very highly negative” at the bottom. Korea was one of 11 nations who rated &ldq

Dunamu, a South Korean blockchain and fintech company, said Tuesday that it has developed an indicator that measures volatility of digital asset market to help investors make decisions. The digital asset fear-and-greed index reflects market sentiment in five different levels, from ”extreme fear“ to ”extreme greed.” The index gauges market volatility with trading price and transaction volume every five minutes.  “As many domestic digital asset investors use gl

South Korean stocks jumped more than 2 percent Tuesday on stellar advances by auto-related shares, backed by expectations of improved earnings. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 78.73 points, or 2.61 percent, to close at 3,092.66 points. Trading volume was high at about 1.3 billion shares worth some 23.8 trillion won ($21.6 billion), with gainers outnumbering losers 737 to 124. Foreigners bought a net 412 billion won, while

South Korea will closely monitor a potential increase in volatility of the financial markets as the yield spread between short and long-term state bonds is increasing, the vice finance minister said Tuesday. First Vice Finance Minister Kim Yong-beom also said rising US Treasury yields are serving as the main factor that has recently driven the dollar higher against major currencies. Yields on 10-year government bonds recently jumped on anticipation for an economic recovery and expected bond sa

South Korean stocks opened higher Tuesday on strong advances by auto-related shares. The benchmark Korea Composite Stock Price Index rose 10.02 points, or 0.33 percent, to 3,023.95 in the first 15 minutes of trading. The KOSPI rebounded on foreign and institutional buying. The key index slumped over 4 percent in total in the previous two sessions. Top automaker Hyundai Motor jumped 4.56 percent, with its smaller affiliates Kia Motors and Hyundai Mobis hiking 4.9 percent and 4.95 percent, resp

South Korea’s stock market was dealt a further blow following a conviction of Samsung group heir apparent Lee Jae-yong on Monday, with large-cap stocks posting bigger losses. This comes as a recent rally, largely driven by massive retail investor participation since late 2020, has been followed by a stock market correction in the last two trading days. 　 The Korea Exchange’s main board Kospi closed at 3,013.93 points, down 2.3 percent from Friday, despite retail investors’ c

Stocks in carmaker Hyundai Motor and its auto parts-making affiliate Hyundai Mobis that Hyundai Motor Group Chairman Chung Euisun bought during the peak of the coronavirus crisis last year have tripled in value, according to data on Monday. When Hyundai Motor Group stocks hit the rock bottom in March last year, Chung purchased stocks valued more than 80 billion won. The purchase price of a Hyundai Motor share was 69,793 won and 135,294 won for a share in Hyundai Mobis. Based on the closing pri

Relative deprivation, changes in investment platform push retail investors to study, bet on markets night and day

South Korean stocks tumbled more than 2 percent Monday amid strong profit-taking sell-offs and a plunge in Samsung affiliates. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dipped 71.97 points, or 2.33 percent, to close at 3,013.93 points. Trading volume was high at about 1.5 billion shares worth around 22.8 trillion won ($20.7 billion), with losers outnumbering gainers 715 to 164. Foreigners sold a net 220 billion won, while retail investo

Prestige Biopharma, a Singapore biopharmaceutical firm dedicated to biosimilars and new antibody therapeutic developments, said Monday it is looking to raise as much as 490.9 billion won ($444.5 million) in an initial public offering on the Korean main bourse early next month. It plans to issue some 15.34 million depository receipts in a price band of 25,000-32,000 won. The exact share price will be set through the two-day book building that is set to wrap up Wednesday. Retail investors’

South Korean stocks opened steeply lower Monday as foreign and retail investors sold local stocks to take profits. The benchmark Korea Composite Stock Price Index lost 42.26 points, or 1.37 percent, to 3,043.64 points in the first 15 minutes of trading. Samsung Electronics shed 1.93 percent, and No. 2 chipmaker SK hynix retreated 1.18 percent. Leading chemical firm LG Chem dipped 2.25 percent, and rechargeable battery maker Samsung SDI slumped 2.99 percent. Internet portal operator Naver fel

The amount of funds entrusted to South Korea’s three leading robo-adviser firms exceeded 1 trillion won ($906 million), highlighting the fast growth of non-face-to-face investment services during the coronavirus crisis, according to market data on Sunday. Robo-adviser or automated asset management companies Fount, AIM and December & Company currently manage a total of 1.25 trillion won, up 402.9 percent from 247.9 billion won a year ago. Robo-advisers offer highly tailored asset mana

Investment banks keeping close eye on Yogiyo ‘megadeal’

South Korean retail investors have emerged as deep pockets in the stock market, pouring in more than 100 trillion won ($90.6 billion) since early last year, data showed Sunday. Individual investors net bought a combined 102.2 trillion won in local and overseas stocks from Jan. 2, 2019, to Friday, according to data from the Korea Securities Depository (KSD). During the cited period, individuals bought a net 77.8 trillion won worth of local stocks. They bought 59 trillion won worth of stocks tra

The announcement of two fund closures by US investment firm KKR this week highlighted its anticipation for real asset recovery in the Asia-Pacific region, including South Korea. KKR on Wednesday closed the $1.7 billion fund KKR Asia Real Estate Partners, which is focused on real estate investments in the Asia-Pacific region to meet demand for modernized properties and developments. A few days earlier, its KKR Asia Pacific Infrastructure Investors on Sunday closed a $3.9 billion vehicle for inf