South Korea’s cryptocurrency-related stocks have been nosediving in recent weeks, weighed down by the growing liquidity crisis in the global virtual currency market, data showed Tuesday. According to the nation’s sole bourse operator Korea Exchange, Vidente, the largest shareholder of Bithumb Holdings and the company behind one of top crypto exchanges here, nearly halved from the beginning of the year to close at 8,910 won ($6.89) on the secondary bourse Kosdaq on Tuesday. It traded

Seoul shares opened slightly higher Tuesday, after the market slipped by more than 2 percent the previous day on concerns that a recession in the global economy may come amid faster-than-expected monetary tightening in major economies. The Korea Composite Stock Price Index (KOSPI) rose 2.62 points, or 0.11 percent, to 2,393.65 points in the first 15 minutes of trading. On Monday, the index slumped 2.04 percent to close at a fresh 19-month low of 2,391.03, weighed by tech heavyweights, including

The aggregate value of Socially Responsible Investment bonds issued surpassed 200 trillion won for the first time, the Korea Exchange said. The total value of SRI bonds listed on the market stood at 200.2 trillion won as of June 10, marking a 154-fold increase from 1.3 trillion won in 2018 when an SRI bond was first listed. Also known as environmental, social and governance bonds, thematic and social contribution bonds or green, social and sustainable bonds, SRI bonds are used to fund eco-frie

Seoul shares opened sharply lower Monday, as investors still were gripped by fears that a recession in the global economy may come amid faster-than-expected monetary tightening in major economies. The Korea Composite Stock Price Index (KOSPI) lost 24.44 points, or 1 percent, to 2,416.49 points as of 9:20 a.m. Most local heavyweights dropped, still bracing for the impact of the US Fed's key rate hike last week, the largest increase since 1994. In Seoul, market bellwether Samsung Electronics

Samsung Electronics shares, which account for some 18 percent of South Korea’s benchmark Kospi’s market capitalization, closed at a 52-week low on Friday hit by the prolonged global memory chip supply shortage coupled with concerns of an economic slowdown. The market bellwether closed at its lowest price since Nov. 4, 2020 and 1.81 percent lower from the previous day’s trading at 59,800 won ($46.30). This also marks the first time it closed below the 60,000-won threshold sin

South Korea’s key stock index plunged below the 2,400-point threshold for the first time in 19 months on Friday, weighed down by risks stemming from the US Federal Reserve’s boldest rate hike in nearly two decades. The benchmark Kospi opened 1.7 percent lower from its previous closing of 2,409.72, but fell to 2,396.47 at one point in early morning trade. This marked the first time the index fell below the 2,400-point threshold since Nov. 5, 2020. Early in the morning, foreign in

Seoul shares opened sharply lower Friday, tracking big losses on Wall Street, as investors worried that the US Federal Reserve's aggressive monetary tightening could cause a global economic recession. The Korea Composite Stock Price Index (KOSPI) lost 39.79 points, or 1.62 percent, to 2,411.62 points in the first 15 minutes of trading. Overnight, US shares tumbled, following rallies the previous session, on concerns over the possible impact of the Fed's monetary tightening on global ec

South Korean stocks rebounded slightly Thursday, ending their seven-day losing streak, as uncertainty over the future course by the US Federal Reserve eased somewhat after its sharpest rate hike in almost three decades. The local currency rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) added 4.03 points, or 0.16 percent, to close at 2,451.41, after erasing most of its earlier gains. The index hit an intraday high of 2,500.36. Trading volume was moderate at 567.50 millio

Debt burden on investors gets heavier with US Fed’s biggest rate hike in 28 years

Seoul shares got off to a strong start Thursday, tracking overnight rallies on Wall Street, after the US Federal Reserve delivered a rate hike that met market expectations. The Korea Composite Stock Price Index (KOSPI) rose 45.43 points, or 1.86 percent, to 2,492.81 points in the first 15 minutes of trading. Overnight, US shares closed higher after the Fed hiked the key rates by 0.75 percentage point, the largest increase since 1994, to tame high-flying inflation. There had been worries that t

South Korea’s benchmark Kospi fell 45.59 points, or 1.83 percent, from a day earlier to 2447.38 Wednesday, marking a seventh straight negative session as investors dramatically raise their bets on a US Fed hike of 75 basis points on Wednesday there, steeper than the 50 basis points it had indicated. The main board slid to an intraday low of 2436.04, a new 52-week low, as foreign investors carried on a sell-off for a ninth session straight, outweighing purchases by institutional and retai

South Korean stocks sank to a fresh 19-month low Wednesday to extend their losing streak to a seventh day ahead of the US Federal Reserve's interest rate decision amid high inflation and concerns over a global recession. The local currency also fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 45.59 points, or 1.83 percent, to close at 2,447.38. It is the lowest figure since Nov. 10, 2020, when the index closed at 2,452.83. Trading volume was moderate at 700.92

Shares of Hybe, the agency behind K-pop sensation BTS, fell almost 25 percent on Wednesday, rattled by the boy band’s announcement that it will take time off from group activities to pursue solo projects. Hybe shares closed 24.87 percent lower from the previous session at 145,000 won ($112.5). It had opened at 168,000 won after closing at 193,000 won in the previous session. Within the first hour of trading, the shares plummeted to 140,000 won, over 25 percent lower from the previous c

Seoul shares opened lower Wednesday as investors remained jittery over the path that the Federal Reserve will take on monetary policy this week amid surging inflation. The Korea Composite Stock Price Index (KOSPI) fell 15.36 points, or 0.62 percent, to 2,477.61 points in the first 15 minutes of trading. Overnight, US shares closed mixed ahead of the conclusion of the Fed's two-day interest rate-setting meeting on Wednesday (US time). Many expected the central bank to take the "giant st

Financial authorities say Korea faces uncertainties, market volatility expanding