South Korean stocks closed 0.39 percent higher Friday, extending the rally for a second day as the U.S. Federal Reserve's plan to reduce stimulus subdued prolonged market uncertainties, analysts said. The local currency edged down against the U.S. dollar.  The benchmark Korea Composite Stock Price Index (KOSPI) advanced 7.70 points to finish at 1,973.12. Trading volume was light at 237.4 million shares worth 3.11 trillion won ($2.92 billion) with gainers outpacing decliners 430 to 357. Analysts

South Korean stocks traded 0.15 percent higher late Friday morning, led by gains in machineries and financial firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.97 points to 1,978.62 as of 11:20 a.m.Doosan Infracore, a leading construction equipment maker, shot up 3 percent and No. 3 lender Hana Financial Group advanced more than 2 percent. But shares of textile and IT service companies lost ground. Major apparel firm LG Fashion dipped 2.5 percent, with NC Soft,

South Korean stocks turned higher Friday after a weak start as investors stayed on the sidelines amid growing concerns about the yen's descent, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.62 points, or 0.08 percent, to 1,977.27 in the first 15 minutes of trading. The KOSPI began 0.13 percent lower at the opening bell. Market behemoth Samsung Electronics lost 0.35 percent, while Hyundai Motor gained 0.5 percent following a steep fall in the previous session, wei

FOMC’s stimulus cuts expected to have little impact on Korea

South Korean stocks closed marginally higher Thursday, paring earlier gains as renewed fear over a weaker yen overshadowed the momentum spurred by the U.S.Federal Reserve's plan to cut stimulus, analysts said. The local currency fell sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.02 points, or 0.05 percent, to finish at 1,975.65. Trading volume was light at 251.6 million shares worth 3.77 trillion won ($3.56 billion) with decliners outnumbering g

South Korean stocks rallied early Thursday as market uncertainties subsided after the U.S. Federal Reserve announced the plan to trim its monetary stimulus.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 15.04 points, or 0.76 percent, to 1,989.67 as of 10 a.m., after starting off the session more than 1 percent higher at the opening bell. Analysts in Seoul said investors increased bets as the prolonged anxiety about the reduction of the quantitative easing (QE) was lifted, giving

Foreign delegates from the Group of 20 plan to visit the inter-Korean Gaeseong industrial complex on Thursday.While the officials are visiting South Korea to participate in the G20 Seoul Conference, the North recently allowed their visit, which was arranged by the Ministry of Unification, officials said.According to the Finance Ministry of South Korea, 31 figures will visit, including 15 senior finance ministry officials from 14 countries such as France, Luxembourg, Switzerland and the U.K.The d

LG Chem Ltd., one of South Korea’s leading chemical companies, said Wednesday that it plans to invest 320 billion won ($304 million) to expand its plants for crude acrylic acid and superabsorbent polymers by September 2015. The expansion will increase LG Chem’s annual production capacity of CAA by 80,000 tons to 510,000 tons and that of SAP by 160,000 tons to 360,000 tons, LG Chem said in a statement. SAP is used as raw materials for diapers and CAA is used in paint, adhesives and addition agent

South Korean stocks closed 0.45 percent higher Wednesday, as investors chose to embrace the uncertainties on a U.S. stimulus cut and increased bets on local shares, analysts said. The local currency fell marginally against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.89 points to finish at 1,974.63. Trading volume was light at 253.9 million shares worth 3.76 trillion won ($3.57 billion) with decliners outpacing gainers 402 to 389.   Analysts in Seoul said Wedne

South Korean stocks traded 0.31 percent higher late Wednesday morning, driven by gains in financial firms and retailers, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 6.11 points to 1,971.85 as of 11:20 a.m.Shinhan Financial Group, the biggest banking firm by market cap, soared nearly 3 percent, with leading supermarket chain E-mart hiking more than 3 percent. Shares of IT companies fell. NAVER, the top Internet portal provider, dipped 3 percent, and NC Soft, a m

South Korean stocks began higher Wednesday as eyes are set on what U.S. Federal Reserve will say about the stimulus cut after its policy meeting, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.10 points, or 0.36 percent to 1,972.84 in the first 15 minutes of trading. Tech and auto shares led the gain, with market bellwether Samsung Electronics advancing 0.6 percent and Hyundai Mobis, an auto parts-maker, climbing 1.2 percent. The two-day Federal Open Market Committ

The Financial Supervisory Service has launched a probe into alleged accounting fraud by Daewoo Engineering & Construction Co., officials said Tuesday.The FSS said it opened the investigation after obtaining information on suspicions of window dressing by the country’s third-largest construction company.The builder’s stock price fell after the news of the probe launch, hitting 6,940 won per share, down 11.14 percent from the previous day. “The price is expected to continue to drop for the moment,

The won is expected to further strengthen against the dollar as Korea will continue to achieve current account surpluses on the back of a global economic recovery, analysts said.The exchange rate fell 0.4 won to 1,051.1 won Tuesday, near this year’s low of 1,051 won.The general market outlook for the Korean won seemed that it will gain a lot faster against major global currencies such as the U.S. dollar, the euro and the Japanese yen.Analysts have noted that the won-dollar rate could potentially