South Korean stocks inched up on Monday, as investors took to the sidelines amid increased valuation pressure and uncertainties from the Sino-American political friction. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 3.71 points, or 0.12 percent, to close at 3,135.59. Trading volume was moderate at about 1 billion shares worth around 13.1 trillion won ($11.6 billion), with gainers outnumbering losers 493 to 350. F

Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a fourth consecutive month, but some market experts have a positive outlook on their return. “Foreigners’ net purchase has lately occurred to Kospi since the index is still relatively undervalued (compared to other key indexes) amid growing recovery hopes for global economy and business profits,” Daishin Securities analyst Lee Kyung-min wrote in a report Monday. Accord

South Korea's stock market value grew nearly 4 percent in the first quarter of the year on increased share prices of chemical firms, builders, transportation companies and game makers, a corporate tracker said Monday. The combined market capitalization of 2,385 listed companies in Asia's fourth-largest economy came to 2,411 trillion ($2.15 trillion) as of end-March, up 3.6 percent, or 84 trillion won, from the start of the year, according to CXO Institute. Of the total listed companies, 60 per

South Korean stocks were little changed Monday amid lingering concerns over virus outbreaks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.24 point, or 0.01 percent, to 3,132.12 points in the first 15 minutes of trading. Stocks came to a muted start after the KOSPI snapped its six-day gaining steak the previous session as valuation pressure increased ahead of the earnings report season. Over the weekend, South Korea's daily new coronavirus cases stayed in the 600s for the thi

Executives of Bae, Kim & Lee forecast platform businesses, digital economy to heat up Korea’s M&A market

Financial authorities will launch an investigation into executives of Hyundai Motor on allegations that they used undisclosed information regarding Apple’s electric vehicle project to profit from share trading, industry sources said Sunday. The Korea Exchange has passed on the case to the Financial Services Commission to begin its own probe as early as this month and decide whether to refer the case to prosecutors, industry insiders said. The KRX investigation, launched during the last

More initial public offerings of South Korean companies are on deck, as the IPO landscape here is increasingly becoming a heated battleground for investors searching for an immediate return after their listing on the stock market. Korea’s IPO market appears to have returned to the pre-pandemic level, as liquidity-driven investors are rushing to opportunities and regulators are shaping out rules to give IPO stock investors a fairer chance of allocation. In the first quarter, 14 companies

Despite the ravages of the coronavirus pandemic, the number of South Koreans who hold stocks worth 10 billion won ($8.92 million) or more increased last year, data showed Sunday. Data compiled by the state-run Korea Securities Depository showed that the number of these “superrich” Koreans came in at 2,800 -- up 600, or 27 percent on-year, as of the end of December. Their combined stocks reached 241.5 trillion won in value, up 59.9 trillion won or 33 percent. Of all 2,800 people w

South Korean stocks are likely to continue upward movement next week as expected solid earnings reports for the first quarter are anticipated to boost foreign buying, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,131.88 points Friday, up 0.61 percent from 3,112.8 points a week ago. The index fluctuated in the narrow 3,100-3,260-point band during the week. The KOSPI rose for the sixth consecutive session Thursday, backed by strong foreign buying, bu

South Korea should create a legal framework to embrace up-and-rising digital assets, protect customers and support the growth of the industry, a group of experts said Friday. Gathering for a seminar on the legalization of digital assets including cryptocurrencies, experts including lawyers, a lawmaker and businessmen voiced concerns over the government’s cautious approach that could hinder the development and soaring activities of digital assets. During the seminar, Park Jong-baek, a l

Riiid, a South Korean artificial intelligence-based education tech startup, was added to a lits of the most innovative AI startups by a global market intelligence platform, the company said on Friday. Riiid, which develops AI technology that analyzes student data and content to help them learn, was included in the CB Insights’ AI 100 list, which is in its fifth year. CB Insights has chosen 100 out of 6,000 companies based on several factors including patent activity, investor quality,

Trading in shares of Kakao, South Korea’s top mobile messenger operator, is set to be suspended for three days from Monday, following its decision to carry out its first-ever stock split. By lowering the face value of its stocks by 80 percent, the split makes it easier for small investors to purchase shares. It will increase the number of issued shares to 443,523,100 from 88,704,620 shares -- each shareholder will get five new shares for each one they currently hold. The newly split shar

South Korean stocks snapped their weeklong winning streak Friday as foreigners and institutions took a breather amid increased valuation pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.38 points, or 0.36 percent, to close at 3,131.88 points. Trading volume was moderate at about 1.8 billion shares worth some 14.6 trillion won ($13 billion), with gainers outnumbering losers 537 to 305. Foreigners sold a net 325 billion won, whi

The state-run Korea Depository Insurance Corp. (KDIC) said Friday it sold a 2 percent stake in Woori Financial Holdings Co. as part of efforts to recoup taxpayer money injected into the company. The stake, or 14.5 million shares, was offloaded through a block sale in pre-market trading for 149.3 billion won ($134 million), the KDIC said. The stake sale comes in line with a government road map to dispose of its interest in the major financial holding company, whose flagship is Woori Bank. It a

South Korean stocks opened higher Friday, tracking overnight Wall Street gains amid growing hopes for a global economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.25 points, or 0.1 percent, to 3,146.51 points in the first 15 minutes of trading. Overnight, the S&P 500 gained 0.42 percent to a new record closing, with the tech-heavy Nasdaq Composite adding 1.03 percent. In Seoul, market kingpin Samsung Electronics retreated 0.35 percent, and No. 2 chipmaker SK