Seoul shares opened higher Monday amid decreased volatility on Wall Street. The benchmark Korea Composite Stock Price Index rose 4.77 points, or 0.19 percent, to 2,501.40 in the first 15 minutes of trading. On Friday, US stocks closed mixed, with the Dow Jones Industrial Average up 0.33 percent and the tech-heavy NASDAQ down 0.11 percent. The volatility index, Wall Street's fear gauge, hit the lowest since January 2020 at 12.46 as market participants expected the Federal Reserve is near the

By Manpreet Gill When I first started out as a bond strategist, I was often reminded by my teammates of how the "bond guys" were always the pessimists in the room. We spent a lot of time worrying about what could go wrong. Identifying and then attempting to minimize the chances of a big risk event were often key to earning a reasonable return via the yield. This was, of course, in sharp contrast to the optimists in the equities team who spent much of their time thinking about just ho

Four out of 10 South Koreans feel financially unprepared for post-retirement life, according to a survey released on Sunday. Only 21 percent expressed a sense of well-rounded preparedness in advance. The KB Financial Group's Management Research Institute conducted a survey on retirement preparation and housing preferences among 3,000 men and women aged between 20 to 79 nationwide, who are financial decision-makers in their households. The survey took place in January this year. The survey r

South Korea's manufacturing confidence rose for the first time in four months in December, thanks to solid signs of recovery in global demand for semiconductors, a poll showed Sunday. The professional survey index for the manufacturing sector's business conditions came to 100 for next month, up from 97 for this month, according to the Korea Institute for Industrial Economics & Trade. A PSI reading above 100 means optimists outnumber pessimists. The survey was conducted earlier this

Finance Minister Choo Kyung-ho met with the CEO of London Stock Exchange Group, calling for foreign investors’ interest in Korea’s foreign exchange and state bond markets. Choo attended the market opening ceremony at the London Stock Exchange on Thursday, marking the first time for a Korean governmental official to participate in the event, according to the Finance Ministry. Korean finance figures attended the event with Choo. Choo has been in London since Monday as a part of Presi

Seoul shares closed lower Friday, snapping a four-day winning streak, with no major guidance in the markets due to the Thanksgiving holiday in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index was down 18.33 points, or 0.73 percent, to close at 2,496.63. Trade volume was slim at 352.2 million shares worth 6.38 trillion won ($4.9 billion), with gainers outnumbering decliners 452 to 413. Institutions and individuals bought a combined 194

Seoul shares opened higher Friday, with no major guidance in the markets due to the Thanksgiving holiday in the United States on Thursday. The benchmark Korea Composite Stock Price Index rose 3.38 points, or 0.13 percent, to 2,518.34 in the first 15 minutes of trading. Market participants expected the Federal Reserve is near the end of its hiking cycle and rate cuts are likely in 2024. But the latest Fed minutes said officials have no intention to ease the monetary policy. In Seoul, large-cap st

South Korea’s exports of beverages reached a record high during the first nine months of 2023 in line with the popularity of Korean food and the overall culture, the customs agency said. The export value of beverages, excluding alcoholic drinks and mineral water, amounted to $529 million during the January-September period, up 6.3 percent from a year earlier, according to the data from the Korea Customs Service. It is the highest level ever for a nine-month tally. Last year, the country lo

Seoul shares closed higher Thursday, helped by foreign buying, while investors remain concerned about the Federal Reserve's future policy path. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index was up 3.26 points, or 0.13 percent, to close at 2,514.96. Trade volume was slim at 353.45 million shares worth 6.43 trillion won ($5 billion), with decliners outnumbering gainers 469 to 403. Foreigners bought a net 119 billion won worth of stocks, offsetting

A coalition of 15 human rights groups has issued a plea to the 2030 World Expo organizer Bureau International des Expositions, imploring the members to reject Saudi Arabia’s bid on Wednesday, just six days ahead of the final decision. The group, represented by Democracy for the Arab World Now, called on the members to reject the bid from Saudi Arabia, citing the kingdom’s troubling human rights record. The appeal lays out a detailed dossier of human rights abuses in Saudi Arabia, arg

From the fourth quarter of next year, individuals can test out the central bank digital currency with public vouchers, under a real-world test plan introduced by local authorities on Thursday. The Bank of Korea, Financial Services Commission and Financial Supervisory Service jointly announced the details on the pilot project, following a previous notice in October. Thursday’s announcement was made on the sidelines of a visit by Agustin Carstens, general manager of the Bank for Internationa

Shinhan Bank said Wednesday that it has signed an agreement worth 1 billion pounds ($1.25 billion) with the United Kingdom Department for Business and Trade to invest in the country's infrastructure and environmental sectors. On Tuesday, the memorandum of understanding signing ceremony took place with the attendance of British Business and Trade Secretary Kemi Badenoch and Shinhan Bank CEO Jung Sang-hyuk, at the mayor's residence in London. Under the deal, the Seoul-based bank will inv

KB Financial Group held a conference Thursday, diagnosing the current market situation and sharing with its individual and corporate clients the group’s future investment philosophies to tackle uncertainties surrounding the global market. Titled “KB Investor Insights 2024,” the event was held at the KB Kookmin Bank's headquarters in Seoul, under the theme “anti-fragility," which refers to an ability to respond to and gain from uncertainties, and disorder. The te

Seoul shares opened higher Thursday, following gains on Wall Street, with investors remaining concerned about the Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 3.11 points, or 0.12 percent, to 2,514.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 35,273.03, and the tech-heavy NASDAQ also added 0.5 percent to 14,265.86. There have been expectations that the Fed has nearly

Key biz figures attend Korea-UK Business Forum held during Yoon’s state visit