South Korean stocks rose 0.31 percent late Thursday morning after the U.S. Fed's rate hike drove out uncertainties hanging over the market, analysts said.  The benchmark Korea Composite Stock Price Index added 6.05 points to 1,975.95, as of 11:20 a.m.  Local shares started 0.87 percent higher, cheering the rate hike by the long-anticipated level of a quarter point to 0.25-0.50 percent and the subsequent overnight rally on Wall Street.  But the index pared part of its earlier gains, as foreigners

South Korean stocks surged 1.63 percent late Wednesday morning as investors picked up battered blue chips amid hopes for eased woes on an imminent rate hike in the U.S.     The benchmark Korea Composite Stock Price Index added 31.57 points to 1,964.54 as of 11:20 a.m.  The U.S. Federal Reserve is widely expected to raise its target rates for the first time since June 2006. Overnight, the Dow Jones industrial average and the Nasdaq index surged 0.9 percent, each.     Local stocks traded bullish a

Foreign investors turned to net sellers of local stocks in November amid rising global uncertainties stemming from an imminent U.S. rate hike and a slowdown in the Chinese economy, the financial watchdog said Wednesday.  Offshore investors sold a net 1.17 trillion won ($989.4 million) worth of local stocks last month, shifting from 584 billion won in net buying the previous month, according to the Financial Supervisory Service.  They had shifted into a net-buying position in September, when the

South Korea finance ministry said Tuesday that it has successfully issued yuan-denominated foreign exchange stabilization bonds in the world's No. 2 market.The move comes after the People's Bank of China (PBOC) approved the issuing of upwards to 3 billion yuan (US$463 million) worth of bonds on Dec. 8.The sale marks the first time ever that a foreign government has floated yuan-based bonds in China."The sale took place at 5:30 p.m. Korea time with the bonds that mature in three years having an i

Local property app Zigbang has raised 38 billion won ($33 million) from Goldman Sachs and other investors, the company said Tuesday. The U.S. investment bank’s private equity arm led the investment, its second funding of a Korean start-up after last year’s 40 billion won investment in food delivery app Baedal Minjok. Zigbang, launched in 2002, links realtors and customers across the country on its mobile platform that is equipped with a handy search engine, lots of photos and an aggregate listin

Citibank Korea signed an agreement with Apro Service Group to sell its consumer finance subsidiary Citigroup Capital Korea Inc., as part of the U.S. banking group’s efforts to streamline businesses and divest non-core assets, the company said Tuesday.The transaction is expected to close in the first quarter of 2016 subject to regulatory approvals. The financial terms of the transaction were not disclosed. Citigroup Capital Korea accounted for less than 5 percent of Citi’s total revenues in Korea

South Korean stocks traded nearly flat late Tuesday morning as investors remained cautious ahead of a key Fed policy meeting, analysts said.  The benchmark Korea Composite Stock Price Index added 0.34 point, or 0.02 percent, to 1,928.16.   Local shares started 0.38 percent higher following the overnight gains on Wall Street buoyed by a rebound in oil prices.   But the index pared its earlier gains as investors were nervously awaiting the rate decision by the Fed.The U.S. central bank is widely e

South Korean stocks started higher Tuesday tracking overnight gains on Wall Street.   The benchmark Korea Composite Stock Price Index added 7.25 points, or 0.38 percent, to 1,935.07 in the first 15 minutes of trading.  The Dow Jones industrial average rose 0.6 percent on Monday and the Nasdaq index picked up 0.4 percent on the back of the reverse in oil prices from last week's rout.  Tech firms and pharmaceuticals led the gains in the local market, with market bellwether Samsung Electronics surg

South Korean stocks tumbled 1.07 percent Monday as investors shunned risky assets out of fears that plunging crude oil prices will protract the global economic slowdown. The local currency sharply fell against the U.S. dollar.  The benchmark Korea Composite Stock Price Index lost 20.80 points to 1,927.82. Trade volume was moderate at 425.67 million shares worth 4.02 trillion won ($3.39 billion), with losers far outnumbering winners 697 to 150.  "Investors view the sharp fall in prices of oil and

South Korean stocks tumbled 1.02 percent late Monday morning as a further slump in oil prices dampened investor sentiment here.  The benchmark Korea Composite Stock Price Index shed 19.91 points to 1,928.71 as of 11:20 a.m.  On Friday, benchmark U.S. crude fell more than 3 percent to a fresh seven-year low after the International Energy Agency warned that the supply glut will continue well into next year. The news also sent the Dow Jones industrial average skidding 1.76 percent and the Nasdaq tu

BOK, local economists play down massive exit of foreign capital in response to U.S. rate hike