With inflation losing steam, central bank’s monetary tightening comes to end after over 3 years

South Korean stocks opened higher Friday as the country's central bank was set to hold a rate-setting meeting later in the day. The benchmark Korea Composite Stock Price Index rose 0.68 percent, or 17.55 points, to 2,616.71 in the first 15 minutes of trading. Investors' eyes are on the results of the Bank of Korea's monetary policy meeting to be held later in the day, where it is widely expected to start its rate-cutting cycle. Overnight, Wall Street lost ground amid mixed bets on

Seoul stocks finished marginally higher Thursday on overnight US stock gains amid a decline in international oil prices. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index edged up 0.19 percent, or 4.8 points, to 2,599.16. Trading volume was heavy at 603 million shares worth 13.48 trillion won ($9.99 billion), with gainers outpacing losers at 442 to 423. Institutions sold a net 299.6 billion won, while foreign and retail investors together bought a net

Korea's first internet-only bank, K bank, is preparing for its upcoming initial public offering, with demand forecasting kicking off Thursday. According to its securities registration filing, K bank started a weeklong demand forecast from institutional investors on Thursday. This process allows investors to submit their desired purchase quantities and prices before the public offering, guiding the company in determining the final offering price. K bank's target price range is set betwe

Bond sales in South Korea rose sharply from a month earlier in September helped by an increase in corporate bond issues, data showed Thursday. The value of bonds sold last month came to 77.1 trillion won ($57.1 billion), up 7.4 trillion won from 69.7 trillion won sold in August, according to the data from the Korea Financial Investment Association. The value of outstanding bonds, on the other hand, dropped 10.3 trillion won to 2,802.6 trillion won over the cited period, due to a sharp decline in

Seoul stocks opened higher Thursday thanks to overnight US stocks gains led by a decline in international oil prices and a rise in local tech stocks. The benchmark Korea Composite Stock Price Index rose 0.46 percent, or 11.90 points, to 2,606.26 in the first 15 minutes of trading. Overnight, US stocks extended their gains thanks to a decline in global oil prices and gains in tech stocks. The Dow Jones Industrial Average rose 1.03 percent, the S&P 500 gained 0.71 percent, and the tech-heavy N

WGBI inclusion to draw in $56b foreign funds; Prolonged short selling ban remains challenge

South Korea’s financial sector, including banks, brokerage houses and insurers, spent a staggering 2.4 trillion won ($1.78 billion) on entertaining clients over the past five years, data showed Tuesday. From 2019 through the first half of this year, banks, brokerages and insurance companies spent 957.8 billion won, 1.13 trillion won and 308.5 billion won, respectively, on entertainment expenses, according to Financial Supervisory Service data submitted to Rep. Kim Hyun-jung of the main opp

Seoul stocks finished lower Tuesday due to weaker-than-expected earnings results by Samsung Electronics and overnight US stock losses. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 0.61 percent, or 16.02 points, to 2,594.36. Trading volume was moderate at 313 million shares worth 8.98 trillion won ($6.65 billion), with losers outpacing gainers at 569 to 305. Institutions and foreign investors together sold a net 72 billion won, while retai

South Korea racked up a current account surplus for the fourth consecutive month in August, driven by robust exports, central bank data showed Tuesday. The country's current account surplus reached $6.6 billion in August, marking a surplus for the fourth consecutive month, according to data compiled by the Bank of Korea. The August surplus was smaller than the previous month's $8.97 billion. The country's goods account racked up a $6.59 billion surplus in August following an $8.33

Seoul stocks opened lower Tuesday following weaker-than-expected tentative earnings results from Samsung Electronics and overnight US stock losses. The benchmark Korea Composite Stock Price Index dropped 0.55 percent, or 14.28 points, to 2,596.10 in the first 15 minutes of trading. Ahead of the trading session, Samsung Electronics estimated its third-quarter operating profit to reach 9.1 trillion won, apparently failing to meet market expectations due to the lukewarm performance of its flagship

Seoul stocks finished over 1.5 percent higher Monday, bolstered by US employment data, and modest gains in chip and battery shares. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index moved up 1.58 percent, or 40.67 points, to 2,610.38. Trading volume was moderate at 336 million shares worth 10.2 trillion won ($7.57 billion), with gainers outpacing losers at 618 to 259. Institutions and foreign investors together bought a net 98 billion won, whi

South Korea's media regulator is set to look into TikTok over a potential violation of the nation's personal data protection law, an official at the regulator said Monday. TikTok is accused of automatically requiring its users to receive advertisements, instead of letting users give their consent to receive such content under the Korean law, according to industry sources. The Korea Communications Commission suspects that TikTok may be violating the Act on Promotion of Information and C

South Korea's foreign reserves increased for the third straight month in September on the back of the increased value of non-US dollar assets and investment gains, central bank data showed Monday. The country's foreign reserves had come to $419.97 billion as of end-September, up $4.05 billion from the previous month, according to the data from the Bank of Korea. The central bank attributed the increase to a rise in the converted value of non-dollar assets amid the weak greenback and in

Seoul stocks opened higher Monday led by gains among battery and automotive shares. The benchmark Korea Composite Stock Price Index rose 0.21 percent, or 5.33 points, to 2,575.04 in the first 15 minutes of trading. Battery manufacturers and automakers led the overall gains, with leading battery maker LG Energy Solution jumping 2.85 percent and top automaker Hyundai Motor adding 1.46 percent. Financial firms also gained traction, with KB Financial rising 1.57 percent and Shinhan Financial up 0.55