The market capitalization gap between South Korea's two stock trade boards -- KOSPI and KOSDAQ -- has continued to grow recently as institutional investors have increasingly favored the main market over the secondary one, data showed Friday.Many local retail investors, or individuals, called "ants" here, have been sidelined when it comes to profits amid the polarization. (Yonhap)According to the Korea Exchange, which operates the bourse in South Korea, the total market cap of firms listed on the

South Korean stocks opened slightly lower Friday, after a surge in the previous session following the US Federal Reserve's rate hike.The benchmark Korea Composite Stock Price Index fell 0.35 point, or 0.02 percent, to 2,149.73 in the first 15 minutes of trading.In the previous session, the index surged to an almost two-year high as the Fed hinted at gradually raising interest rates.Most large caps traded higher, although market kingpin Samsung Electronics shed 0.14 percent.SK hynix, a major chip

South Korea’s benchmark stock index hit a near two-year high Thursday, while the local currency strengthened more than 1 percent, following the US interest rate hike overnight. The Korea Composite Stock Price Index surged to 2,155 points soon after trade began before closing up 0.8 percent, or 17.08 points, to 2,150.08 points Thursday. It marked the highest since April 27, 2015. Foreign investors, who account for more than 30 percent of South Korea’s stock market, bought a net 271 billion won ($

South Korean stocks traded higher late Thursday morning, but pared their earlier gains on profit-taking, as the US Federal Reserve, as expected, raised interest rates and hinted that future adjustments will be carried out in a gradual manner.The benchmark Korea Composite Stock Price Index  rose 11.78 points, or 0.55 percent, to 2,144.78 as of 11:20 a.m.The US stocks rose sharply overnight after the Federal Reserve raised interest rates as expected without accelerating its timeline for further ti

South Korean stocks opened sharply higher Thursday, as investors took a cue from overnight gains on Wall Street amid eased concerns over the pace of the interest rate hike in the United States. The benchmark Korea Composite Stock Price Index  jumped 22.06 points, or 1.03 percent, to 2,155.06 in the first 15 minutes of trading.The US stocks rose sharply overnight after the Federal Reserve raised interest rates as expected without accelerating its timeline for further tightening.The US central ban

Foreign ownership of South Korean stocks reached a fresh high this week with offshore investors owning more than 50 percent in dozens of listed companies, data showed Thursday.Foreign investors held 523.1 trillion won ($463 billion) worth of local stocks traded on the main bourse and secondary KOSDAQ market as of Wednesday, according to the data by the Financial Supervisory Service and the bourse operator Korea Exchange.Except for November, offshore investors have been in a net buying mode since

South Korea's savings banks posted a sharp increase in their combined net profit last year on increased interest income, data showed Thursday.The total net income of 79 savings banks here jumped 34.6 percent on-year to 862.2 billion won ($753.7 million) according to the Financial Supervisory Service. It said the figure is a provisional one.A file photo of the logo of a South Korean savings bank (Yonhap)Their interest revenue rose by 632.1 billion won compared with a 258 billion won rise in loan-

The US Federal Reserve raised key interest rates Wednesday in a decision that reflects an economy getting healthier than expected, signaling that additional hikes would be made in a gradual manner later this year.The Fed raised the target range for the federal funds rate by 25 basis points to 0.75 to 1 percent. "In view of realized and expected labor market conditions and inflation, the committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent. The stance of mone

South Korean stocks closed slightly lower on Wednesday, slipping from their almost two-year highs the previous session, as investors opted to lock in part of recent gains ahead of the outcome of the Federal Reserve's rate policy meeting. The Korean won rose to the US dollar.The benchmark Korea Composite Stock Price Index shed 0.78 point, or 0.04 percent, to close at 2,133.00. Trade volume was moderate at 370 million shares worth 4.81 trillion won ($4.21 billion), with losers outnumbering gainers

South Korean companies listed on the main bourse Kospi and tech-heavy Kosdaq saw their combined net profits hitting a record high in 2016, a report said Wednesday.According to the report by securities firm Mirae Asset Daewoo, the combined net profits of 1,901 listed firms were estimated to be 107 trillion won ($93 billion) and their combined operating profits at 158 trillion won. (123rf)The estimates were calculated from the confirmed earnings results of 1,681 firms and preliminary estimates of

South Korea's stock market operator made a pitch Wednesday for the country's equity market in Singapore as part of efforts to attract more global investors and firms seeking IPOs.The annual Korea Capital Market Conference is designed to promote the main KOSPI board and the tech-heavy KOSDAQ, according to the Korea Exchange. The Korea Exchange holds an IR even in Singapore on March 15, 2017 in this photo provided by the KRX. (Yonhap)In this year's session, Kim Jae-joon, chief executive officer of

South Korea's central bank chief left for Germany on Wednesday to discuss pending economic issues with his counterparts from the world's major economies, the Bank of Korea said. BOK Governor Lee Ju-yeol is scheduled to attend the G20 Finance Ministers and Central Bank Governors meetings in Baden-Baden, a town in southwestern Germany, on Friday and Saturday, according to the central bank.Bank of Korea Governor Lee Ju-yeol (Yonhap)The trip comes amid a possible rate hike in the US Federal Reserve

Foreign currency deposits held by banks operating in South Korea rose 5 percent in February from a month earlier as exporters deposited their dollar-denominated earnings, central bank data showed Wednesday.Outstanding foreign currency deposits held by local banks, domestic and foreign, reached $67.94 billion in February, up from $64.65 billion a month earlier, the Bank of Korea said in a statement.(Yonhap)Broken down, foreign currency deposits held by domestic lenders rose 5.7 percent to $56.45

South Korean stocks traded lower late Wednesday morning as investors took to the sidelines waiting the outcome of the US Federal Reserve's statement on its rate policy.The benchmark Korea Composite Stock Price Index fell 3.79 points, or 0.18 percent, to 2,129.99 as of 11:20 a.m., slipping from its almost 2-year high in the previous session.Top market cap Samsung Electronics advanced 0.1 percent to a record high, while SK hynix, a major chipmaker, shed 2.58 percent.AmorePacific, the country's top

South Korea's state financial watchdog said Wednesday it is looking into a recent surge in personal loans by some credit card firms amid concerns about massive household debt here.The Financial Supervisory Service said the move is meant to check the exact reason for the credit loan growth and whether the loan procedures were appropriate.Two major card issuers -- Kookmin and Hana -- are the first targets of the inspection, with other firms expected to be affected as well."It's intended to see whe