The Korea Herald

China’s trade surplus surges to $31.5b

IndustryAug 10, 2011

China’s trade surplus surged to $31.5 billion in July, the highest level in more than two years, as exports rose to a record level. Outbound shipments climbed 20.4 percent from a year earlier, compared with the 17 percent median forecast in a Bloomberg News survey of 25 economists. Imports climbed 2
Apple world’s most valuable U.S. firm

IndustryAug 10, 2011

NEW YORK (AP) ― Apple briefly surpassed Exxon Mobil on Tuesday as the nation’s most valuable company.The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just behind Exxon’s. The two companies are so close that Apple is likely to keep the top spot soon.Apple Inc.’
KT to cut mobile service rates

Aug 10, 2011

South Korea’s telecom giant KT Corp. is considering cutting its monthly service rates by 1,000 won ($0.93) in line with the government’s efforts to stem high inflation, a company official said Wednesday.“We’ve mapped out a draft plan to lower mobile phone rates,” said an official from KT. “We are in
Asian stock markets jump on Fed's low rates pledge

Aug 10, 2011

BANGKOK (AP) -- Asian stock markets jumped Wednesday following a surge on Wall Street triggered by a Federal Reserve pledge to keep interest rates super low for the next two years to help the ailing U.S. economy.Oil prices rose to near $82 a barrel, while the dollar slid against the yen and the euro
Apple wins order against Samsung tablet in EU

TechnologyAug 10, 2011

Apple Inc. said it won a temporary order that prevents Samsung Electronics Co. Ltd. from distributing the Galaxy Tab 10.1 tablet computer in the European Union, except the Netherlands. (Bloomberg)Apple Inc. said it won a temporary order that prevents Samsung Electronics Co. Ltd. from distributing th
S. Korea's jobless rate falls to 3.3 pct in July

Aug 10, 2011

SEOUL, Aug. 10 (Yonhap) -- South Korea's jobless rate declined in July from a year earlier as the number of jobs in the country increased, fueled by exports and expanded industrial output, a government report showed Wednesday.The jobless rate stood at 3.3 percent last month, down from 3.7 percent a
Dow soars 429 points on Fed statement

Aug 10, 2011

NEW YORK (AP) _ The Fed spoke _ and financial markets rallied.The Dow Jones industrial average surged more than 429 points, its tenth-highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.The Federal Reserve pledged t
U.S. stocks rally after Fed vows to keep rate near zero for 2 years

Aug 10, 2011

WASHINGTON (AP) -- The Federal Reserve sketched a dim outlook for the U.S. economy Tuesday, suggesting it will remain weak for two more years. As a result, the Fed said it expects to keep its key interest rate near zero through mid-2013. Federal Reserve Chairman Ben Bernanke (AP-Yonhap News)It's the
Bargain hunting push up US stocks

Aug 9, 2011

NEW YORK (AP) -- Bargain hunters helped push the Dow back above 11,000 Tuesday.The Dow Jones industrial average rose 218 points, or 2 percent, to 11,028 in early afternoon trading. On Monday, the Dow had its worst day since 2008, plunging 634.76 points as fear coursed through global markets.``Stocks
US stock futures rise after big fall

Aug 9, 2011

NEW YORK (AP) -- U.S. stock futures rose Tuesday, but only after swinging wildly in overnight trading following the worst day for stocks since 2008.The Federal Reserve plans to meet Tuesday on interest-rate policy. The central bank already has kept its key interest rate at a record low of nearly zer
Asia to keep buying US debt despite downgrade

Aug 9, 2011

BEIJING (AP) -- China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington's credit rating was cut by Standard & Poor's.Some governments such as Germany and Australia have stronger credit ratings than the United State
Seoul decides to ban short selling

Aug 9, 2011

The Financial Services Commission said Tuesday that it has decided to bar investors from short selling on the local stock market over the next three months.Amid the instability of the Korea Exchange in the wake of the European debt crisis, the regulator reinstated the ban for the first time in more
Officials strive to placate investors

Aug 9, 2011

Authorities say ready to supply liquidity if necessaryFinancial authorities have been striving to restore investor sentiment, downplaying concerns over fiscal woes in Europe and the United States.The Financial Services Commission and its executive body, the Financial Supervisory Service, held
Korea rattles from biggest 2-day drop since 2008

Aug 9, 2011

Market crashes while officials try to soothe investorsSeoul stocks continued to drop, hitting a 13-month low Tuesday as institutional investors shunned local shares on fears that Asia’s fourth-largest economy could be hit hard by the historic debt crises in the U.S. and Europe.The KOSPI dipped as lo
Market sees similarities, differences from 2008

Aug 9, 2011

As Seoul shares plummeted to a 13-month low and concerns about an economic crisis rose, some analysts said the market turmoil looked similar to the financial crisis of 2008.They said the start of the tumbling of shares was comparable to the global equity sell-off that occurred in 2008, which was spa