The South Korean stock market is likely to continue its downward march this week as investors remain cautious over the volatile currency, downbeat corporate earnings, and foreign investors’ massive sell-offs, analysts said Saturday.The benchmark Korea Composite Stock Price Index lost some 2.5 percent to close at 1,976.16 last Thursday over the previous week, the lowest since June 23 when it closed at 1,974.92 points, as foreign investors dumped market heavyweights amid increased currency risks a

Demand for South Korean corporate bonds is on a sharp rise as cash-rich investors, searching for alternatives in a low-rate environment and dull stock market, snatch up such debts ahead of another expected rate cut by the country’s central bank, industry data showed Wednesday.According to the data, investors proposed buying 1.06 trillion won ($1.01 billion) worth of corporate debt in the past week, up from 590 billion won a week earlier.Analysts said a growing appetite for corporate debt came as

The South Korean economy is forecast to continue its modest recovery pace, a central bank official said Tuesday, amid growing concerns that Asia’s fourth-largest economy may be slowing down as domestic demand lags.“While we have to judge whether the ups and downs in economic indicators are temporary or stem from fundamental changes, as of now, we believe that the modest recovery trend will continue,” Bank of Korea Deputy Governor Kim Jun-il told reporters in a news conference. Kim, however, adde

South Korea’s finance minister on Tuesday called on business leaders to step up investment in order to help the government revitalize the sluggish economic recovery. “At a time when the situations are not favorable at home and abroad, what we need the most is entrepreneurship,” Finance Minister Choi Kyung-hwan said during a meeting with dozens of senior businessmen in Seoul. “Our economy is facing a golden time that will determine whether it makes a leap forward or falls into a recession.”Choi u

South Korean stocks ended lower Tuesday as investors’ sentiment was dented by the on-going civil unrest in Hong Kong, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 6.51 points, or 0.32 percent, to 2,020.09. Trading volume was moderate at 314.73 million shares worth 4.45 trillion won ($4.22 billion), with decliners outnumbering gainers 439 to 394. Analysts said Seoul shares traded lower as investors took a wait-and-see approach

South Korea extended its current account surplus to 30 months in a row in August but by a smaller margin than the previous month, central bank data showed Monday. The current account surplus reached $7.27 billion last month, compared with a revised $7.84 billion in July, according to the preliminary data by the Bank of Korea. The current account is the broadest measure of cross-border trade.With the August data, the country's current account surplus during the January-August period totaled $54.3

South Korea is closely monitoring the won-yen exchange rate that financial authorities say has reached a worrisome range and is encouraging exporters to take some hedging measures, officials said Sunday."The low-yen trend has entered its third year, but it is showing signs of accelerating recently," an official staying close to exchange issues said. "Any lopsidedness in exchange rates can negatively impact the local economy. We are watching the situation very closely."The Korean won traded at 95

South Korean stocks ended lower on Friday as foreign investors continued to sell for a seventh straight session amid a growing appetite for safer assets, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dipped 2.47 points, or 0.12 percent, to 2,031.64. Trading volume was moderate at 308 million shares worth 3.81 trillion won ($3.65 billion), with decliners outnumbering gainers, 498 to 304.“With foreigners in a selling mode, the KOSPI

KB Financial Group Inc., South Korea‘s No. 2 banking group, said Friday that its new chief will be picked at a shareholders’ meeting slated for mid November. The Chairman Candidate Recommendation Committee held its second meeting on Friday and decided on the procedure to shortlist candidates, the banking group said. The committee plans to pick about 100 candidates first and then choose 10 of them in the third round of its meeting to be held on Oct. 2, it said. After drawing up a shortlist of fou

South Korea's financial watchdog is seeking to revise corporate disclosure rules to require publicly-traded firms to reveal their dividend payout plans and the maximum dividend amount, industry sources said Friday.The government in July had unveiled plans aimed at encouraging companies to distribute more of their profits in wages and dividends, blaming them for holding on to too much cash, cutting the money flow to households and in turn weakening their spending.The new economic team led by Fina