Seoul shares opened higher Monday as investors scooped up technology and other large-cap stocks on bargain hunting. The Korea Composite Stock Price Index (KOSPI) rose 18.25 points, or 0.69 percent, to trade at 2,656.30 in the first 15 minutes of trading. Institutions bought a net 70 billion won ($56 million) worth of stocks, offsetting foreigners and individuals' stock selling valued at 72 billion won. Most large-cap stocks advanced across the board. Market bellwether Samsung Electronics Co

Prosecutors launch crackdown on failed cryptocurrencies, investigating signs of fraud, Ponzi scheme

South Korean stocks got off to a strong start Friday, tracking overnight US gains, as tech shares made an upturn on bargain hunting. The Korea Composite Stock Price Index (KOSPI) rose 26.93 points, or 1.03 percent, to trade at 2,639.38 in the first 15 minutes of trading. Overnight, US stocks rallied on upbeat earnings forecast from major retailers. The Dow Jones Industrial Average rose 1.61 percent, and the tech-heavy Nasdaq composite jumped 2.68 percent. In Seoul, large-cap shares gathered grou

The South Korean stock market ended lower Thursday over the gloomy outlook for inflation and concerns over aggressive monetary tightening. The local currency fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 4.77 points, or 0.18 percent, to close at 2,612.45. Trading volume was light at 583.60 million shares worth 8.48 trillion won ($6.69 billion), with decliners outpacing gainers 422 to 395. Institutional investors sold a net 155.8 billion won, while retail and fore

South Korean stocks open higher Thursday, as the US central bank signaled room for flexibility in aggressive interest rates hike plans. The Korea Composite Stock Price Index (KOSPI) rose 16.21 points, or 0.62 percent, to trade at 2,633.43 in the first 15 minutes of trading. Overnight, US stocks closed higher after the US Federal Reserve released minutes of its May meeting, which showed support for a 50-basis point increase in key rates over the next couple of meetings to tame inflation. The minu

Seoul shares ended higher on Wednesday as investors remain cautious about surging inflation and a global economic slowdown. The South Korean won rose against the US dollar. After choppy trading, the Korea Composite Stock Price Index (KOSPI) rose 11.35 points, or 0.44 percent, to 2,617.22. Trading volume was light at 698.94 million shares worth 8.2 trillion won ($6.5 billion), with gainers outpacing decliners 485 to 360. Institutions bought a net 507 billion won worth of stocks, offsetting foreig

Korbit, one of South Korea’s top four cryptocurrency exchanges, has decided to delist luna, the sister coin of controversial stablecoin terraUSD, on Wednesday, following in the steps of other top platforms such as Bithumb and Upbit. The decision comes a day after chiefs of major crypto exchanges here were criticized by lawmakers for their “uncoordinated” response towards the price fall fiasco of terraUSD and luna. The exchanges failed to coordinate when to delist luna, with

Seoul shares ended lower on Tuesday as investors remain concerned about inflation despite US President Joe Biden's remark that US tariffs imposed on Chinese imports are being reviewed for reduction. The South Korean won fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) fell 41.51 points, or 1.57 percent, to 2,605.87. Trading volume was moderate at 837.87 million shares worth 8.6 trillion won (US$6.8 billion), with decliners outpacing gainers 742 to 136. Institutions

Seoul shares opened lower Tuesday, bucking overnight gains on Wall Street, as investors await the minutes of the Federal Reserve's latest rate-setting meeting this week to take a cue about the US central bank's future tightening move. The Korea Composite Stock Price Index (KOSPI) fell 1.73 points, or 0.07 percent, to trade at 2,645.65 in the first 15 minutes of trading. Overnight, The Dow Jones Industrial Average rose 2 percent to 31,880.24 and the tech-focused Nasdaq index gained 1.6

Flights connecting Gimpo, Haneda to resume on June 1 at earliest

Market watchers sound alarm over stock market, housing bubble bursting

South Korean stocks open higher Monday, buoyed by the anticipation that the outcome of the South Korea-US summit will give a boost to key industrial sectors. The Korea Composite Stock Price Index (KOSPI) rose 6.88 points, or 0.26 percent, to trade at 2,646.17 in the first 15 minutes of trading. In a joint statement issued after the summit between Presidents Yoon Suk-yeol and Joe Biden on Saturday, the two countries agreed to enhance cooperation in various sectors, from semiconductors, electric v

South Korean shares advanced Friday as investors scooped up oversold stocks and pinned hopes for expanded business ties between South Korea and the United States. The Korean won steeply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 46.95 points, or 1.81 percent, to close at 2,639.29 points. After a volatile week from high inflation, the key stock index gained 1.35 percent from a week ago. Friday's trading volume was moderate at about 743 million s

South Korean shares opened higher Friday, buoyed by strong advances by tech and auto heavyweights, despite overnight falls on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) had added 25.64 points, or 0.99 percent, to trade at 2,617.98 points as of 9:15 a.m. On Thursday, the index dipped 1.28 percent. Overnight, the Dow Jones Industrial Average and the tech-heavy Nasdaq composite declined, largely on continued pressure on inflation hikes. KOSPI's top cap Samsung Electro

Seoul shares dropped by over 1 percent to snap their two-day winning streak, as investors' appetite for risky assets fell amid fears about high-flying inflation pressure that sparked a massive sell-off on Wall Street. The Korean won steeply fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) retreated 33.64 points, or 1.28 percent, to close at 2,592.34 points. Trading volume was moderate at about 663 million shares worth some 9.7 trillion won ($7.6 billion), with loser