Foreign stock funds that consist of stocks of companies outside South Korea basked in sunny gains last year that far surpassed returns by foreign bond funds and funds that invest in local equities, data showed on Thursday.Foreign stock funds yielded an average 3.41 percent last year, far higher than an average 0.76 percent return posted by funds that invest in local stocks, according to the data compiled by market researcher Zeroin. The comparable figures for foreign bond funds and domestic bond

The South Korean stock market's volatility index dropped to an all-time low in 2013, data showed on Thursday, indicating that the local shares traded in a tight range last year amid protracted economic recovery.The so-called V-KOSPI 200 index came in at 15.29 last year, marking the lowest since 2003 when comparable figures were available, according to the data compiled by the Korea Exchange. The bourse operator started publishing the index in 2009.The index represents the volatility of the main

South Korean stocks inched down Thursday, the first day of trading in the new year, as tech shares and automakers lost ground, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.08 point, or 0.1 percent to 2,009.26 in the first 15 minutes of trading. Market leader Samsung Electronics fell 2.48 percent to 1,338,000 won and top carmaker Hyundai Motor declined 0.63 percent to 235,000 won.Analysts said the yen's weakness and tepid corporate earnings may cap gains of the KOS

The Korean stock market is expected to see the so-called “January effect” as the benchmark equity index has historically performed strongest in the first month of the year, analysts said.The rally would be mostly driven by festive holidays not only in Korea but also China and the U.S., which would lead to increased retail sales and, thus, to increased domestic consumption.These factors have had positive effects on the stock market by boosting both consumer and investor sentiment.The benchmark KO

2014 government budget cut to improve state finances

  Two provincial banking firms won the bid Tuesday to each buy a regional bank unit of Woori Finance Holdings Co., giving a hand to the government's long-pending sale of South Korea's largest banking group, ank and regulatory sources said.   The state-run Korea Deposit Insurance Corp. (KDIC), the controlling shareholder of Woori Finance, picked Busan-based BS Financial Group Inc. as the preferred bidder for Kyongnam Bank, and JB Financial Group Co., based in the southern  city of Gwangju, for Kw

KOSPI climbs 0.7% to close at 2,011.34 in 2013

South Korean stocks closed 0.45 percent higher on Monday, the last trading day of the year, as gains of bank shares and automakers propped up the market, analysts said. The local currency fell against the U.S. dollar.After trading in a tight range, the benchmark Korea Composite Stock Price Index (KOSPI) gained 9.06 points to 2,011.34. Trading volume was moderate at 167.8 million shares worth 3.17 trillion won ($3.01 billion) with gainers outpacing losers 494 to 311."Amid thin trading, the local

South Korean stocks traded 0.04 percent higher late Monday morning, the last day of trading, as bank shares and carmakers gained ground, analysts said.After trading in a tight range, the benchmark Korea Composite Stock Price Index (KOSPI) rose 0.72 points to 2,003 as of 11:20 a.m.Bank shares and carmakers gained ground. Top banking group Woori Finance rose 3.52 percent and industry leader Hyundai Motor gained 1.96 percent.But market leader Samsung Electronics shed 2.01 percent, and chip giant SK

The combined market capitalization of South Korean firms listed on the main and secondary bourse ranks 13th among global peers, claiming 1.97 percent of the total, data showed Monday.The combined market cap of the world's 20 major stock markets reached a record high of US$63.39 trillion as of the end of November, increasing 15.9 percent from $54.7 trillion won tallied at the end of 2012, according to the data by the bourse operator Korea Exchange (KRX). The data are based on figures given by the

South Korean stocks started slightly higher on Monday with gains in utility and telecom stocks, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.77 point, or 0.04 percent, to 2,002.82 in the first 15 minutes of trading. Utility and telecom shares led the overall market rise with SK Telecom rising 1.54 percent.But tech and other major market cap shares remained in negative terrain. Top market cap Samsung Electronics lost 0.93 percent.The local currency was trading at