South Korean stocks got off to a weak start Tuesday as political uncertainties over the eurozone dented investor sentiment here, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 15.57 points, or 0.8 percent, to trade at 1937.64 in the first 15 minutes of trading.Shares lost ground across the board, with market bellwether Samsung Electronics falling 1.18 percent and chipmaker SK hynix losing 1.23 percent. Flat panel giant LG Display shed 1.6 percent.Shipbuilders also tra

Downsizing is sweeping the securities industry with firms tightening management and costs amid the slowdown in the manufacturing sector, the Korea Financial Investment Association and analysts said.Some 60 brokerage houses have reduced the number of their retail branches by almost 100 nationwide to 1,681 over the last year, with some 720 executives being let go. Mirae Asset Securities closed down the most retail branches at 39, followed by Tongyang Securities shutting down 20 of its offices. Han

The South Korean currency rose 1.18 percent to the U.S. dollar on Monday as investors’ risk-aversion eased on the back of improved U.S. economic data, dealers said.The Korean stocks ended 0.23 percent lower as investors stepped to the sidelines due to prolonged currency volatility in the foreign exchange market, analysts said.The local currency closed at 1,084.60 won against the greenback, up 12.8 won from the previous session.“The won gained ground as U.S. data eased concerns about the fragile

Stock ownership by foreign investors on South Korea’s main bourse inched up in January from December2011 on growing optimism for an economic recovery, the stock market operator said Monday.Overseas investors held 34.58 percent of the total shares on the main bourse as of end-January, up 1.72 percentage points from 13 months earlier, the Korea Exchange said.Market watchers said the rise came as the country’s sovereign credit ratings rose last year, while major countries, including the U.S., injec

Financial regulatory officials have been in internal discussions about taking punitive measures against Hyundai Card for alleged business irregularities.Though few of Hyundai Card’s irregular practices have yet been made public, there is a high possibility that a “caution” or “warning” will be issued to the credit card issuer, according to market observers.The Financial Supervisory Service conducted an investigation into Hyundai Card by dispatching inspectors to its headquarters in the fourth qu

Bank of Korea board member Moon Woo-sik sees no immediate need to alter benchmark interest rates and says it’s “too early” for any central-bank response to the yen’s slide against the won. “There are good reasons why people tend to be more optimistic this year than last year,” Moon, 52, said in an interview in Seoul last week. There’s no “important reason to take monetary-policy actions quickly” unless the South Korean economy declines further, he said. Central bank policy makers meet Feb. 14 to

South Korean stocks ended 0.23 percent lower on Monday as investors stepped to the sidelines due to prolonged currency volatility in the foreign exchange market, analysts said Monday. The local currency surged against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) dipped 4.58 points to 1,953.21. Trading volume was moderate at 339.7 million shares worth 3.49 trillion won (US$3.22 billion), with decliners outpacing gainers 475 to 337."Despite positive economic indicators f

South Korean stocks traded 0.27 percent higher late Monday morning as foreign investors scooped up local shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 5.25 points to 1,963.04 as of 11:20 a.m.Mobile carriers led the market gain, with leading SK Telecom increasing 2.94 percent and No. 2 player KT moving up 4.17 percent.No. 3 player LG Uplus climbed 3.91 percent.Shipbuilders also traded higher, with Daewoo Shipbuilding & Marine Engineering rising 0.17 percen

South Korean stocks began higher Monday as investor sentiment got a boost from last week's gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.45 percent, or 8.84 points, to 1966.63 in the first 15 minutes of trading.Shares gathered ground across the board, with tech behemoth Samsung Electronics increasing 0.14 percent and top steelmaker POSCO adding 1.81 percent. Leading builder Hyundai Engineering & Construction moved up 1.46 percent.U.S. stocks e

U.S., Japan stocks climb as KOSPI continues slide

South Korea’s stock market may inch up this week on strong exports though it will likely move in a very tight range, analysts said.The benchmark Korea Composite Stock Price Index closed at 1,957.79 on Friday, up 0.6 percent from a week earlier.The KOSPI had a weak start last week as the local currency continued to rise against the U.S. dollar, raising concerns over weak earnings by major exporters.The Korean won gained 19.6 percent against the Japanese yen last year, putting South Korean exporte

The current global currency row is expected to continue for the time being as monetary easing by major economies will likely spur emerging markets to take tougher moves to stem the appreciation of their currencies, a report said Friday. The stimulus plans by the United States and Japan have escalated foreign exchange volatility, sparking a currency conflict between the two global economic powerhouses and prompting other countries to hurry to curb the ascent of their currencies, according to the

Woori Financial Group saw its 2013 brand ranking, assessed by The Banker, climb more than 300 notches from last year.Woori ranked 77th in the yearly list of the top 500 banking brands by The Banker, a London-based financial magazine, a jump from 389th in 2012.Shinhan Financial Group and KB Financial Group took the positions of 51st (57th in 2012) and 65th (76th in 2012), respectively.Hana Financial Group, which acquired Korea Exchange Bank a year ago, also made the list at No. 116. Last year Woo