South Korean stocks opened lower Wednesday, as investors took a cue from overnight losses on Wall Street and attempted to lock in recent gains. The benchmark Korea Composite Stock Price Index shed 2.65 points, or 0.12 percent, to 2,131.13 in the first 15 minutes of trading.On Tuesday, the KOSPI closed at an almost two-year high on the back of continued foreign buying.Most large caps traded mixed, with market kingpin Samsung Electronics rising 0.05 percent.POSCO, the country's leading steelmaker,

South Korean stocks reached almost two-year highs on Tuesday as foreign investors continued to scoop up local stocks, extending their buying binge to a seventh consecutive day following eased political chaos in Asia's fourth-largest economy and sound economic data. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 16.19 points, or 0.76 percent, to close at 2,133.79. Trade volume was moderate at 362 million shares worth 5.22 trillion won ($4.54 bil

South Korea's financial market has maintained its stability despite the recent political turmoil, but authorities can't afford to be complacent, given a slew of remaining challenges, a top regulator said Tuesday.Last week's court ruling that unseated Park Geun-hye from her presidential post cleared some political uncertainties here, largely drawing a positive response from local and foreign investors.Jeong Eun-bo, vice chairman of the Financial Services Commission (FSC), speaks at a meeting on t

State-run lender Industrial Bank of Korea said it will provide a total of 100 billion won ($87 million) in special loans for small and medium-sized enterprises whose businesses have been hurt by China’s latest restrictions on travel to South Korea.An SME can apply for up to 300 million won in special loans from the IBK from Wednesday until the end of 2017, and the interest rate will be lowered by up to 1 percentage point, the bank said.If the company wants to extend the period of borrowing, the

South Korea's home transactions grew from a year earlier last month, helped by a sharp increase in rural areas, the government said Tuesday.In February, a total of 63,484 homes here changed hands, up 7.1 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport. From a month before, the February tally marks an 8.4-percent increase. It also marks a turnaround from a 6.1-percent on-year drop in January.The rise in February was largely attributed to a 12

South Korea will take market-stabilizing actions if the expected US rate hike stirs up volatility in the local market, the finance ministry here said Tuesday.The US Federal Reserve will have its two-day monetary meeting that starts later in the day, with many expecting the central bank to raise interest rates.The rate increase will likely impact the South Korean economy, which has been suffering from mounting household debt worth more than 1,300 trillion won ($1.13 trillion)."If the Fed raises r

South Korean stocks traded sharply higher late Tuesday morning as political chaos in the country eased after the Constitutional Court ruled to oust President Park Geun-hye and investors increased risky bets.The benchmark Korea Composite Stock Price Index rose 9.37 points, or 0.44 percent, to 2,126.96 as of 11:20 a.m., an almost 2-year high.Top market cap Samsung Electronics advanced 0.54 percent to a record high, while SK hynix, a major chipmaker, shed 0.98 percent.AmorePacific, the country's to

The combined market capitalization of South Korean stocks held by foreigners has exceeded 511 trillion won ($445 billion), hitting an all-time high, data showed Tuesday.Foreigners have purchased a net 4.22 trillion won worth of shares here this year alone, helping drive up the benchmark index KOSPI to 2,117.59 points Monday, according to the Korea Exchange.The KOSPI and KOSDAQ boards at the South Korean stock market in a photo provided by Yonhap News TV (Yonhap)The total market cap swelled to 1,

South Korean stocks opened higher Tuesday, with most market heavyweights remaining in positive terrain. The benchmark Korea Composite Stock Price Index rose 8.71 points, or 0.41 percent, to 2,125.30 in the first 15 minutes of trading.On Monday, the KOSPI closed at an almost two-year high on the back of continued foreign buying.Most large caps traded higher, with market kingpin Samsung Electronics rising 0.05 percent.POSCO, the country's leading steelmaker, rose 0.89 percent, and Hyundai Motor, t

The local branches of foreign banks in South Korea suffered a sharp drop in their net profits last year on decreased interest income, the financial watchdog said Tuesday.They posted 764.9 billion won ($668 million) in combined net profits during the year, down 31.8 percent from 2015, according to the Financial Supervisory Service, which cited preliminary data.In particular, the net interest income of the 37 foreign bank branches plunged 26.2 percent on-year to 1.1 trillion won."It means unfavora

South Korean small-cap stocks, previously rumored to have connections to presidential hopefuls, showed severe fluctuations Monday, even after they publicly disclosed that they were not actually linked to politics at all.While the main bourse Kospi inched up only 0.97 percent, stocks related to dark horse South Chungcheong Province Gov. An Hee-jung rallied on the news that a new opinion poll showed he has narrowed the gap with leading presidential hopeful Moon Jae-in, former chairman of the main

The popularity of individual savings accounts has apparently withered here on lower-than-expected rates of return, a year after the much-hyped debut of the investment vehicle, data showed Monday.The number of ISAs in South Korea peaked at 2.4 million in November last year and declined to 2.39 million in the following month and 2.36 million in January of this year, according to the Financial Services Commission. An ad for an individual savings account in a file photo (Yonhap)It also decreased by

South Korean stocks rose to the highest level in almost two years on Monday on increased risky appetites following eased political chaos in Asia's fourth-largest economy and sound economic data in the US The Korean won sharply rose against the US dollar.The benchmark Korea Composite Stock Price Index advanced 20.24 points, or 0.97 percent, to close at 2,117.59. Trade volume was moderate at 378 million shares worth 4.57 trillion won ($3.99 billion), with gainers outnumbering losers 458 to 366.  M

South Korean stocks traded sharply higher late Monday morning as political chaos in the country eased after the Constitutional Court ruled to oust President Park Geun-hye and investors increased risky bets.The benchmark Korea Composite Stock Price Index rose 22.95 points, or 1.09 percent, to 2,120.30 as of 11:20 a.m. An image depicting the stock market (123RF)Top market cap Samsung Electronics advanced 1.79 percent to a record high, major chipmaker SK hynix jumped 3.05 percent, and top automaker

A top South Korean regulator called Monday for more efforts to protect the country's financial networks amid concern about possible cyber attacks especially by North Korea.The military has already bolstered its defense posture since the nation's president was ousted last week by a court verdict over an influence-peddling scandal, with a new leader to be elected in two months. The financial authorities are closely monitoring any sign of market instability. Jeong Eun-bo (left), vice chairman of th