Korean stocks finished a tad higher on Friday as bargain hunting by foreign and retail investors helped recover earlier losses, analysts said. The local currency fell against the U.S. dollar. After falling as much as 0.61 percent, the benchmark KOSPI added 0.04 percent, or 0.71 percentage point, to reach 2,026.83. Trading volume was moderate at 500 million shares worth 4.77 trillion won with losers outpacing gainers 422 to 382. “Foreigners resumed net buying, mostly picking up shares of base met

The Bank of Korea has asked the Financial Supervisory Service to conduct a joint probe into the country’s household and corporate debt situations. The BOK made the decision Thursday and the financial regulator of its intention, a move that reflects its expanded supervisory role. The formal request marked the first time the central bank revealed its intent to play a role in stabilizing the overall financial system in addition to its primary function of keeping inflation at bay. In the document se

Hanwha Group chairman Kim Seung-youn sold his entire holdings of Hanwha Securities, the brokerage said in a filing to the Korea Exchange on Friday. Kim held about 323,000 shares in the securities house, or 0.39 percent. Hanwha Securities said that Kim’s sale was to “simplify the stake ownership” and its affiliate Hanwha Time World took over Kim’s entire stake in order not to have an impact on the market. The stake sale came after Hanwha Group went through a turbulent period concerning Kim and fo

Korea’s central bank should raise its policy rate to help cement its commitment toward price stability in Asia’s fourth-largest economy, a state-run think tank said Thursday.The Korea Development Institute said the Bank of Korea should “normalize” its rate policy in a bid to secure market trust, and needs to deliver a signal to the market that price stability is its top priority.“The authorities are urged to normalize macroeconomic policies and need to guard the economy against growing uncertain

Korean stocks finished almost unchanged on Thursday as the absence of new momentum and upcoming events such as the nuclear summit put investors on the sidelines, analysts said. The local currency rose against the U.S. dollar. After moving in a narrow range, the benchmark Korea Composite Stock Price Index ended at 2,026.12, down 0.05 percent, or 1.11 points. Trading volume was moderate at 534 million shares worth 5.22 trillion won ($4.62 billion) with losers leading gainers 569 to 265. “The big p

Foreign investment banks projected the South Korean economy would expand 3.3 percent in 2012, slowing from last year’s 3.6 percent gain, as growth momentum weakens amid uncertainties stemming from the eurozone debt crisis and slowing global economic expansion, a report showed Thursday.But the average growth projection by a total of 10 overseas investment banks is 0.1 percentage point lower than the 3.4-percent expansion estimate for Asia’s fourth-largest economy made in January by nine global in

Analysts predict improved sentiment, foreign investment to push market upEquity analysts projected Seoul shares to continue their rally for the next few months with improving business sentiment and earnings expectations, especially as capital injections continue from advanced countries.Oh Tae-dong, a strategist at Taurus Investment & Securities, forecast the benchmark KOSPI to reach up to 2,300 by the end of June, before it fluctuates more heavily in the second half due to policy risks and possi

The number of single-parent homes and single-person households grew to almost half of the country’s total family units, reflecting demographic changes that came with more people living alone and divorces, Statistics Korea said Wednesday. More than 48 percent were households with one or two occupants in 2010, up from 29.6 percent in 1995. The average number of occupants per household dropped to 2.69 for 2010, from 3.4 in 1995.“The sharp increase can be attributed to the rise in single adults and

Royal Bank of Scotland Group Plc, Britain’s biggest state-owned lender, will wind down some operations in South Korea, Indonesia and Singapore, retreating from an earlier plan to sell them.The U.K. lender is to close the cash equities, equity capital markets and corporate finance units in Korea, as well as the cash equities operations in Indonesia and Singapore, Yuk Min-hui, a spokeswoman for RBS in Hong Kong, said in an e- mailed response to queries. About 70 people will be affected, she said.R

Korean stocks finished 0.73 percent lower Wednesday as worries about China’s growth prospects and North Korea dampened investor appetite for risks, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI declined 14.92 points to 2,027.23. Trading volume was moderate at511 million shares worth 5.1 trillion won ($4.53 billion) with losers leading gainers 542 to 273. “The local bourse underperformed against other stock markets in Asia,” said Lee Young-won, an analyst at H

Financial regulator under fire for approving only KB Kookmin, Hana-SKThe Financial Services Commission is being seen as inconsistent in its policy to approve businesses of new credit card firms.After KB Financial Group launched a stand-alone credit card firm, named KB Kookmin Card, in March 2011, other financial groups and banks have been striving to follow suit.Among them are Woori Financial, Nonghyup Financial, Korea Development Bank and Standard Chartered Bank Korea.In January, FSC chairman K