Major foreign investment banks anticipate the Japanese currency will trade lower against the U.S. dollar in 2013, a report showed Tuesday, while local analysts are mixed about the impact of a weaker yen on the local stock market.Thirteen global investment banks expect the yen will change hands at 81.62 yen against the U.S. dollar in the first quarter of next year, down 1.8 percent from 80.16 yen suggested a month earlier, according to the report by the Korea Center for International Finance.The

South Korea’s household debts, though standing at an alarming level, are under control as a stabilizing housing market and regulatory steps to stem their growth have capped risks, a global investment bank said Tuesday. Goldman Sachs said in a report that the growth pace of home-backed lending here has slowed in recent months, curbing the overall rise in household liabilities, according to the Korea Center for International Finance. The country’s household credit, which includes credit purchases

South Korean stocks closed 0.51 percent higher on Tuesday on the back of foreigners' buying, but the gain was capped due to remaining corporate uncertainties, analysts said. The local currency fell slightly against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.02 points to finish at 1,993.09. Trading volume was moderate at 446.9 million shares worth 4.55 trillion won ($4.24 billion) with gainers outnumbering losers 426 to 384."We've seen steady foreign inflows

South Korean stocks retreated 0.6 percent on Monday as investors sat on the sidelines while keeping a wary eye on stalled spending cut talks in the United States. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 11.98 points to close at 1,983.06. Trading volume was moderate at 360.4 million shares worth 4.19 trillion won ($3.90 billion) with decliners outpacing gainers 497 to 309. “Investors felt more pressure as the deadline for an agreement

South Korean stocks are predicted to undergo correction this week as they had risen too much in the short term last week, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,995.04 on Friday, up 1.92 percent from a week earlier.The KOSPI moved in a tight range earlier this week as investors sat on their hands ahead of the U.S. Federal Reserve’s policy-setting Federal Open Market Committee meeting.North Korea’s long-range rocket launch in the middle of the week al

South Korea’s major financial holding companies are expected to fare worse in 2013 than this year due mainly to a decline in interest income amid persistent low interest rates, a financial information provider said Sunday.The combined net income of the four major bank holding companies ― KB Financial Group Inc., Woori Finance Holdings Co., Shinhan Financial Group and Hana Financial Group ― is predicted to reach 7.32 trillion won ($6.82 billion) next year, down 9.5 percent from this year’s estima

South Korea’s household debt has been rising at a faster rate than its economic growth, data showed Sunday, raising concern it could put the economy in jeopardy unless proper measures are taken.According to the data by the Bank of Korea, South Korea’s household credit totaled 937.5 trillion won ($873 billion) as of the end of September, up 5.6 percent from a year earlier.Household credit refers to credit purchases and loans for households extended by financial institutions, including commercial

Power shortages in the wintertime pose a risk to the nation’s energy security, but they also create business opportunities for banks, which seek a new sources of growth as interest rates stay low. Industry sources said South Korean banks’ top priority at year-end was to find new areas of growth amid deteriorating profitability. Korean banks, which depend heavily on the profits from loan-to-deposit interest differences, have been losing money as the protracted economic downturn has kept loan inte

South Korean stocks closed 0.39 percent lower on Friday as investor sentiment was dented by the stalled U.S. fiscal cliff talks, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 7.73 points to 1,995.04. Trading volume was light at 345.1 million shares worth 4.24 trillion won ($3.95 billion), with decliners outnumbering gainers 407 to 380.“Local shares edged down as investors were still concerned about the U.S. fiscal cliff iss

Key financial affiliates of South Korea’s No. 1 conglomerate Samsung Group have eliminated hundreds of jobs via voluntary retirement programs as part of efforts to cut costs amid a prolonged economic slowdown, industry sources said Friday.Samsung Fire & Marine Insurance Co., the country’s top non-life insurer, has recently implemented a voluntary retirement program and dismissed around 150 workers. Samsung Fire has enforced the program annually since 2009, according to the sources.The move comes

South Korea‘s central bank froze the key interest rate for the second straight month on Thursday, opting to preserve policy room in the face of global economic uncertainty and the presidential election slated for next week.Bank of Korea (BOK) Gov. Kim Choong-soo and his six fellow policymakers left the benchmark 7-day repo rate unchanged at 2.75 percent for December. The central bank cut the rate in July and October.The decision was widely anticipated as 15 out of 16 analysts forecast the rate f