South Korean stocks opened lower Wednesday as a surge in new coronavirus cases weighed down investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) fell 14.92 points, or 0.45 percent, to trade at 3,290.29 points in the first 15 minutes of trading. South Korean stocks got off to a weak start after health authorities said the daily virus caseload topped 1,200 to reach a record high for this year. Market kingpin Samsung Electronics, which earlier estimated better-than-expecte

South Korea’s benchmark stock index refreshed its record high closing on Tuesday, backed by foreigners and institutional investors’ extending buying sprees for two days. The Kospi index closed at 3,305.21, up 12 points or 0.36 percent, from the previous session’s close. It broke the previous record of 3,302.84 from June 25 but failed to reach as high as its all-time high of 3,316.08 set during intraday trading on the same day. Offshore investors and institutions purchased a

South Korean stocks advanced for the second consecutive day to close at a fresh record high Tuesday as hopes for strong second-quarter corporate earnings drove up tech stocks. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) increased 12 points, or 0.36 percent, to close at 3,305.21 points. Trading volume was moderate at about 1 billion shares worth some 14.5 trillion won ($12.8 billion), with gainers outnumbering losers 476 to 344. Foreigners

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More than half of South Koreans whose financial assets exceed 1 billion won ($893,000) believe that the local stock market may rally this summer on hopes of an economic rebound, a recent survey showed Tuesday.  According to the survey conducted by Samsung Securities, some 64 percent of the company’s 782 high net worth customers, said they look forward to a summer rally in the stock market. Among them, 68 percent forecast the country’s key stock index Kospi would hover around

A total of 80 listed companies in South Korea changed names in the first half of the year largely as part of efforts to burnish their corporate image, data showed Tuesday. Twenty-seven companies listed on the main Kospi market renamed themselves in the January-June period, with 53 firms registered with the tech-laden Kosdaq market changing names, according to the data from the Korea Securities Depository. The total number was up 45.5 percent, or 25 corporations, from the same period a year ear

South Korean stocks opened higher Tuesday amid strong advances by large tech and auto caps. The benchmark Korea Composite Stock Price Index (Kospi) rose 11.06 points, or 0.34 percent, to trade at 3,304.22 in the first 15 minutes of trading. Stocks got off to a solid start on expectations of improved corporate earnings. Samsung Electronics and LG Electronics are scheduled to report their quarterly earnings guidance Wednesday. Market kingpin Samsung Electronics rose 0.5 percent, and LG Electro

Tesla, Apple and AMC Entertainment were the most-bought foreign stocks among South Koreans in the first half of the year, data showed Monday. US electric vehicle maker Tesla drew buy orders of $9.6 billion from Korea-domiciled investors during the January-June period, topping the list of the most actively traded foreign stocks, according to data from the Korea Securities Depository. The same stocks worth $7.9 billion were sold by Korean traders over the cited period. Korean investors‘ p

South Koreans’ preference for nonfinancial assets such as real estate is still high compared to other major economies, but their investment in stocks has increased during the pandemic, data showed Monday. As of end-2019, the proportion of financial assets in the wealth of Koreans was 35.6 percent, significantly lower than those in the US (71.9 percent), Japan (62.1 percent), UK (54.8 percent) and Australia (43 percent), according to data compiled by Korea Financial Investment Association.

South Korean stocks rebounded Monday after a two-day slump, largely on speculations of solid corporate earnings in the second quarter. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 11.43 points, or 0.35 percent, to close at 3,293.21 points. Trading volume was moderate at about 839 million shares worth around 14.3 trillion won ($12.6 billion), with losers outnumbering gainers 460 to 372. Foreigners bought a net 1 billion won, while ret

SD Biosensor, a manufacturer of COVID-19 test kits in South Korea, said Monday that it was ready to make its market debut on the nation’s benchmark Kospi this month with a lowered initial public offering price range, amid scrutiny from the financial regulator over an original valuation deemed excessive. The in-vitro diagnostic firm’s IPO price has been set within the range of 45,000 won to 52,000 won ($39.90-$46), having been lowered by 32 percent to 39 percent from the previous ta

South Korean banks are adopting unprecedented measures to boost cybersecurity in a bid to better compete with local fintech firms. Woori Bank said Monday it became the first lender here to adopt the security orchestration, automation and response technology, or SOAR. SOAR is an advanced set of technologies that enables organizations to automatically collect and file security data. The latest technology would help upgrade its cybersecurity platform from the previous monitoring-focused system

Shinhan Card said Monday it plans to launch private label credit card featuring South Korean boyband BTS and other celebrities later this year, exclusively for K-pop fans. In partnership with Weverse Company, a fan community platform created by Hybe, the entertainment agency behind BTS, Shinhan will launch PLCCs that offer benefits and rewards to cardholders who buy albums or concert goods via Weverse Shop. A PLCC is a credit card branded jointly by two business entities that are intended to

South Korean stocks opened higher Monday, led by gains in tech and bio shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.16 points, or 0.31 percent, to trade at 3,291.94 in the first 15 minutes of trading. Stocks got off to a solid start on speculations of improved corporate earnings. Tech large caps Samsung Electronics and LG Electronics are scheduled to report their quarterly earnings guidance this week. Concerns about the recent spread of the new coronavirus and its