South Korean stocks advanced for a fourth consecutive session Thursday as the chief of the US Federal Reserve has hinted at slowing the pace of its interest rate hikes down the road. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 19.74 points, or 0.82 percent, to close at 2,435.27 points, the highest figure since June 17. Trading volume was a bit heavy at 477.4 million shares worth some 9.01 trillion won ($6.93 billion), with gain

Won-dollar, stocks stabilize though US rate outpaces Korea’s

The Export-Import Bank of Korea said Thursday its executives, including its new CEO and heads of relevant departments, discussed credit support plans to help businesses tide over inflation, high interest rates and the weakening Korean won. Based on judgment that the unstable global supply of raw materials led to high prices, the “economic emergency task force” of Eximbank decided to increase the credit support for tackling the global supply chain crisis from the current 15 trillion

South Korean stocks opened higher Thursday as the US Federal Reserve raised its key interest rate by a widely expected 0.75 percentage point. The benchmark Korea Composite Stock Price Index added 16.88 points, or 0.7 percent, to trade at 2,432.1 points in the first 15 minutes of trading. Wrapping up a two-day meeting, the US central bank on Wednesday (US time) announced a three-quarters of a point rate increase to put its policy rate in a range of 2.25 to 2.5 percent, the highest level since 201

Corporate direct financing in South Korea decreased 6.7 percent on-year in the first half as bond sales plunged amid a sharp increase in market rates, data showed Thursday. Local companies raised a total of 114.5 trillion won ($87.1 billion) by selling stocks and bonds in the January-June period, down 8.24 trillion won tallied a year earlier, according to the data from the Financial Supervisory Service (FSS). Direct financing refers to raising funds directly from the stock and bond markets witho

South Korean stocks advanced for a third straight session on Wednesday ahead of the US Federal Reserve's rate-decision meeting slated for later this week. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) edged up 2.57 points, or 0.11 percent, to close at 2,415.53 points. Trading volume was moderate at about 324 million shares worth some 6.9 trillion won (US$5.3 billion), with gainers outnumbering losers 492 to 336. Institutions sold a net 55

South Korean stocks opened nearly flat Wednesday as investors took to the sidelines ahead of the US Federal Reserve's rate-decision meeting. The benchmark Korea Composite Stock Price Index slipped 0.81 point, or 0.03 percent, to trade at 2,412.15 points in the first 15 minutes of trading. The US Fed is set to announce the results of its two-day monetary meeting results Thursday (Korean time). Overnight, the US stock market closed lower. The Dow Jones Industrial Average fell 0.71 percent, an

Seoul shares ended higher Tuesday helped by tech and auto gains, with investors awaiting the Federal Reserve's rate decision and major firms' earnings results this week. The Korean won rose against the US dollar. The Korea Composite Stock Price Index rose 9.27 points, or 0.39 percent, to close at 2,412.96. Trading volume was moderate at 409.32 million shares worth 6.15 trillion won ($4.7 billion), with gainers outstripping losers 442 to 358. Institutions and foreigners bought a combine

The average jeonse price of apartments in Seoul this month fell for the first time in three years and three months as demand dropped due to increased lease renewals and rising interest rates while supply rose. Jeonse is a home rental system in Korea where a tenant pays a lump-sum deposit, instead of monthly rent, to a landlord. The deposit typically ranges between 60 to 80 percent of the unit‘s sale price, and is fully refunded at the end of the contract period. According to KB Kookmin

Seoul shares opened lower Tuesday as investors remain wary over a widely expected rate hike by the Federal Reserve this week to combat soaring inflation. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.04 points, or 0.33 percent, to trade at 2,395.65 in the first 15 minutes of trading. The Fed is expected to raise borrowing costs by 0.75 percentage point, which would put the US benchmark rate in a range of 2.25-2.5 percent. Also, some major companies, including Samsung Electronics

South Korean stocks closed higher Monday, as institutions and foreigners went on a buying mode, with automakers and car parts suppliers leading the gains. The Korean won declined against the US dollar. The Korea Composite Stock Price Index (KOSPI) gained 10.55 points, or 0.44 percent, to close at 2,403.69. Trading volume was moderate at 316.23 million shares worth 5.77 trillion won ($4.39 billion), with gainers outstripping losers 427 to 400. Institutions and foreign investors bought a net 193.2

With LG Energy Solution’s stock lock-up period ending this week, market eyes are on institutional investors‘ movement, as massive sales of shares may impact a market that remains sluggish with low trading volume. According to the Financial Supervisory Service’s electronic disclosure system, the lock-up period for LG Energy Solutions shares owned by institutional investors -- 9,960,365 shares (4.26 percent of all shares) since the battery company was listed on January 27 -- wi

Experts divided over FTX’s possible acquisition of Bithumb

South Korean shares opened higher Monday amid lingering concerns that the global economy is teetering on the brink of a recession. The benchmark Korea Composite Stock Price Index added 9.94 points, or 0.42 percent, to trade at 2,403.08 in the first 15 minutes of trading. Foreigners and institutions went on a buying mode, while retail investors sold shares. Last Friday, U.S. stocks ended lower on tech losses. The Dow Jones Industrial Average fell 0.43 percent, the tech-heavy Nasdaq Composite decr

South Korea’s Hana Financial Group and SK Telecom signed a share-swap deal worth some 400 billion won ($305.3 million) to set up a new environmental, social and governance model, officials said Sunday. “We have signed a strategic partnership with SK Telecom on Friday to build a new cooperative agreement based on ICT innovation,” Hana said in a statement. Under the deal between the nation’s banking and telecommunications giants, SK Telecom will acquire a 3.1 percent sta