South Korean stocks closed almost flat Wednesday, shrugging off geopolitical risks in Syria as firm foreign demand for local equities offset external worries, analysts said. The local currency rose slightly against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.32 points to finish at 1,884.52. Trading volume was moderate at 371.3 million shares worth 3.35 trillion won (US$2.99 billion) with decliners outpacing gainers 531 to 241.The KOSPI started off tumbling so

South Korean stocks traded 0.56 percent lower late Wednesday morning, as shares of financial companies continued to drive down the index, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) slid 10.52 points to 1,875.32 as of 11:20 a.m.Shinhan Financial Group, the country's No. 4 banking firm sank more than 2 percent, with top player Samsung Life Insurance dipping nearly 1 percent. But autos moved upward. Hyundai Motor shot up 1 percent, and its smaller affiliate Kia Motors cl

South Korean stocks sank nearly 1 percent at the opening bell on Wednesday as a possible U.S.-led military strike on Syria jolted the global financial market, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 18.63 points, or 0.99 percent to 1,867.21 in the first 15 minutes of trading. Most shares lost ground across the board, with large-cap tech and financial companies leading the decline. Samsung Electronics dipped 0.8 percent and banking giant Shinhan Financial Gr

Regulators nullify former administration’s project to privatize KDB

The Financial Supervisory Service unearthed a total of 150 cases of illegal foreign exchange transactions in the first half of this year, officials said Tuesday. The number is an increase of 26 percent from the same period last year, when 119 cases were detected, the FSS said in a statement. These crimes were mostly caused by failing to report certain foreign currency-related financial transactions to the banks, as designated in the regulatory act, according to FSS officials.About 65 percent of

South Korean stocks closed almost flat Tuesday, as investors took a breather following previous rallies amid signs of growth in China and Europe, analysts said.The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.02 points, or 0.11 percent, to finish at 1,885.84. Trading volume was moderate at 403 million shares worth 3.71 trillion won (US$3.33 billion) with decliners outnumbering gainers 535 to 256. Analysts said the KOSPI's marginal dr

South Korean stocks traded 0.18 percent higher late Tuesday morning, paring earlier losses with gains led by builders and state-run firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 3.48 points to 1,891.34 as of 11:20 a.m. Hyundai Engineering & Construction, one of the nation's top builders, jumped more than 2 percent, with state-run electricity provider Korea Electric Power Corp rising 1.8 percent. Top-cap Samsung Electronics also gained 0.3 percent. The local

South Korean stocks began marginally lower Tuesday on losses in shares of large-cap insurers and brokerage houses, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.84 points, or 0.04 percent to 1,887.02 in the first 15 minutes of trading. Leading player Samsung Life Insurance fell 0.5 percent with No.2 banking group KB Financial Group sliding more than 1 percent. Analysts predicted the main index to start weaker as investors may opt for profit-taking after the

The Ministry of Strategy and Finance said Monday that it proposed amendments to customs legislations allowing the expansion of duty free shops operated by small and medium enterprises.The revision also included downsizing duty free shops owned by conglomerates such as Lotte and Shinsegae, and restricting them to maintain a market share below 60 percent.SMEs, meanwhile, will be able to see the benefits from this revision that will allow an increase in the number of their shops to account for more

Local market remains stable thanks to strong fundamentals, experts say

Korean firms’ profits rise 32 percent

South Korean stocks shot up nearly 1 percent Monday as stabilizing emerging markets helped investors dispel concern about a financial jolt, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.70 points to close at 1,887.86. Trading volume was moderate at 312.4 million shares worth 3.23 trillion won (US$2.90 billion) with gainers outstripping decliners 535 to 266. "External risks needed to be eased for the main index

South Korean stocks traded 0.82 percent higher late Monday morning, driven by gains in heavy industries and chemical companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shot up 15.42 percent to 1,885.58 as of 11:20 a.m.Hyundai Heavy Industries, the world's biggest shipyard, soared 2.5 percent, and LG Chem, a leading chemical maker, jumped more than 3 percent. In contrast, shipping lines trended lower, with STX Pan Ocean slumping 3.5 percent. The local currency was c