South Korean stocks opened a tad lower Wednesday ahead of the central bank's rate-setting meeting. The benchmark Korea Composite Stock Price Index (Kospi) lost 11.02 points, or 0.44 percent, to 2,510.74 in the first 15 minutes of trading. Overnight on Wall Street, US stocks climbed modestly on a dovish comment by a Federal Reserve official, with the Dow Jones Industrial Average edging up 0.24 percent and the Nasdaq Composite adding 0.29 percent. The Bank of Korea is set to decide on its pol

South Korean stocks ended more than 1 percent higher Tuesday, as investors were buoyed by the latest news on an extended cease-fire in the Middle East. The local currency rose sharply against the US greenback. The benchmark Kospi jumped 26.1 points, or 1.05 percent, to close at 2,521.76. Trading volume was slim at 435.8 million shares worth 8.59 trillion won ($6.64 billion), with gainers slightly outnumbering decliners 457 to 417. Individual investors led the rally, purchasing a net 572.6 billio

South Korean liquor giant HiteJinro said Tuesday it is expanding its distribution network of soju products in the UK as part of efforts to strengthen its market presence in Europe. Since last week, HiteJinro has started selling its Jinro Green Grape Soju and Jinro Peach Soju at 88 Sainsbury's stores and via online shopping portals, including Sainsbury's Online and Ocado, the company said. According to HiteJinro, the company's distilled spirit exports to the UK have been increasing

South Korean stocks started a tad higher on Tuesday despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 15.98 points, or 0.64 percent, to 2,511.64 in the first 15 minutes of trading. In the United States, major stock indices closed in negative territory, with the Dow Jones Industrial Average losing 0.16 percent and the Nasdaq Composite declining 0.07 percent. In Seoul, large-cap shares led the positive start. Market bellwether Samsung Electronics rose 0.

Eco-friendly cars accounted for one-third of all new vehicle purchases made here in the first nine months of 2023, government and industry data showed. According to data from the Transportation Ministry and the Korea Automobile Manufacturers Association, the rate of car purchasers who bought eco-friendly models, including hybrid and electric units, between January and September, stood at 32.1 percent of all new vehicle customers. It marked the first time for the portion of new eco-friendly model

South Korea and the China-led Asian Infrastructure Investment Bank (AIIB) discussed ways Monday to boost bilateral cooperation on the financial sector and conduct various joint infrastructure projects, the finance ministry here said. The discussion took place during the meeting between Finance Minister Choo Kyung-ho and AIIB President Jin Liqun held in Seoul earlier in the day, according to the Ministry of Economy and Finance. Choo asked for the AIIB chief's support for South Korean com

Concerns are looming large over the loss of principles in equity-linked securities products underlying Hong Kong’s slumping benchmark index with over 8 trillion won ($6.1 billion) in ELS products sold by Korean banks set to mature in the first half of next year. The size of ELS products tracking the Hang Seng China Enterprises Index maturing next year and sold by Korea’s five major banks exceeds 13 trillion won. Of them, some 8.4 trillion won worth of ELS products are facing matu

Seoul shares opened higher Monday amid decreased volatility on Wall Street. The benchmark Korea Composite Stock Price Index rose 4.77 points, or 0.19 percent, to 2,501.40 in the first 15 minutes of trading. On Friday, US stocks closed mixed, with the Dow Jones Industrial Average up 0.33 percent and the tech-heavy NASDAQ down 0.11 percent. The volatility index, Wall Street's fear gauge, hit the lowest since January 2020 at 12.46 as market participants expected the Federal Reserve is near the

By Manpreet Gill When I first started out as a bond strategist, I was often reminded by my teammates of how the "bond guys" were always the pessimists in the room. We spent a lot of time worrying about what could go wrong. Identifying and then attempting to minimize the chances of a big risk event were often key to earning a reasonable return via the yield. This was, of course, in sharp contrast to the optimists in the equities team who spent much of their time thinking about just ho

Seoul shares closed lower Friday, snapping a four-day winning streak, with no major guidance in the markets due to the Thanksgiving holiday in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index was down 18.33 points, or 0.73 percent, to close at 2,496.63. Trade volume was slim at 352.2 million shares worth 6.38 trillion won ($4.9 billion), with gainers outnumbering decliners 452 to 413. Institutions and individuals bought a combined 194

Seoul shares opened higher Friday, with no major guidance in the markets due to the Thanksgiving holiday in the United States on Thursday. The benchmark Korea Composite Stock Price Index rose 3.38 points, or 0.13 percent, to 2,518.34 in the first 15 minutes of trading. Market participants expected the Federal Reserve is near the end of its hiking cycle and rate cuts are likely in 2024. But the latest Fed minutes said officials have no intention to ease the monetary policy. In Seoul, large-cap st

South Korea’s exports of beverages reached a record high during the first nine months of 2023 in line with the popularity of Korean food and the overall culture, the customs agency said. The export value of beverages, excluding alcoholic drinks and mineral water, amounted to $529 million during the January-September period, up 6.3 percent from a year earlier, according to the data from the Korea Customs Service. It is the highest level ever for a nine-month tally. Last year, the country lo

Seoul shares closed higher Thursday, helped by foreign buying, while investors remain concerned about the Federal Reserve's future policy path. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index was up 3.26 points, or 0.13 percent, to close at 2,514.96. Trade volume was slim at 353.45 million shares worth 6.43 trillion won ($5 billion), with decliners outnumbering gainers 469 to 403. Foreigners bought a net 119 billion won worth of stocks, offsetting

Seoul shares opened higher Thursday, following gains on Wall Street, with investors remaining concerned about the Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 3.11 points, or 0.12 percent, to 2,514.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 35,273.03, and the tech-heavy NASDAQ also added 0.5 percent to 14,265.86. There have been expectations that the Fed has nearly

Seoul shares closed little changed Wednesday, as the Federal Reserve still warned against high inflation and US AI chip leader Nvidia released lower-than-expected earnings results. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index was up 1.28 points, or 0.05 percent, to close at 2,511.70. Trade volume was moderate at 433.37 million shares worth 7.66 trillion won ($5.9 billion), with gainers outnumbering losers 428 to 421. Institutions and individuals sold

Seoul shares opened lower Wednesday as the Federal Reserve still warned against high inflation and US AI chip leader Nvidia released lower-than-expected earnings results. The benchmark Korea Composite Stock Price Index fell 13.92 points, or 0.6 percent, to 2,496.50 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.2 percent to 35,088.29, and the tech-heavy NASDAQ shed 0.6 percent to 14,199.98. There have been expectations that the Fed is at the end of its hik

Seoul shares closed higher Tuesday on tech gains, with investors awaiting earnings results from AI chip leader Nvidia and other US tech firms this week. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index was up 19.22 points, or 0.8 percent, to close at 2,510.42. Trade volume was moderate at 340.42 million shares worth 7.6 trillion won ($5.9 billion), with gainers outnumbering losers 598 to 271. Overnight, the Dow Jones Industrial Average increased 0.6 perc

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street, as investors await earnings results from AI chip leader Nvidia and other US tech firms. The benchmark Korea Composite Stock Price Index rose 19.92 points, or 0.8 percent, to 2,511.12 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.6 percent to 35,151.04, and the tech-rich NASDAQ added 1.1 percent to 14,284.53. Nvidia is set to release quarterly results on Tuesday on the back of str

Korea is likely to see more activity in the metal derivative market amid the growth of battery metals trading, said a CME Group executive in charge of handling the firm’s global metals business. Jin Hennig, managing director and global head of metal products at CME Group, a leading financial derivatives exchange, said Korea can play a critical role in both metal trading and transactions as the overall market is growing at a fast pace. CME Group, as a derivative marketplace, offers futures

Seoul shares closed higher Monday despite investor concerns over possible US rate hikes to tame high inflation. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.86 percent, or 21.35 points, to close at 2,491.20. Trade volume was moderate at 319.84 million shares worth 6.5 trillion won ($5.03 billion), with gainers outnumbering losers 648 to 229. The Kospi opened nearly flat amid concerns of an additional US rate hike. The US Federal Reserve has be