South Korean stocks rose more than 1 percent Wednesday backed by gains of chip and battery shares amid hopes for a rate cut by the Federal Reserve. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.40 points, or 1.03 percent, to close at 2,689.50. Trade volume was heavy at 871 million shares worth 13.4 trillion won ($9.76 billion), with gainers far outpacing losers 642 to 226. Foreign investors bought shares worth a net 589 billion won, while

South Korean stocks opened slightly higher Wednesday backed by gains of chip and battery shares amid hopes for a rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index rose 7.42 points, or 0.28 percent, to 2,669.52 in the first 15 minutes of trading. Overnight, the US stock market closed slightly higher on softer-than-expected labor market data that bolstered hopes for an interest rate cut by the Fed. In Seoul, market bellwether Samsung Electronics jumped 1.99 percent f

South Korean stocks closed lower Tuesday after strong gains in the previous session and mixed overnight results on Wall Street. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 20.42 points, or 0.76 percent, to close at 2,662.10. Trade volume was heavy at 759.2 million shares worth 12.5 trillion won ($9.07 billion), with losers far outpacing gainers 642 to 226. Foreigners and institutions dumped shares worth a net 516 billion won, while individu

Stock prices of oil- and gas-related companies went on a roller coaster ride Tuesday, amid investors’ interest in the discovery of possible oil reserves off the East Coast following President Yoon Suk Yeol’s announcement the previous day. With the government approving exploratory drilling for a potential 14 billion barrels of crude oil and natural gas reserve at Yeongil Bay in Pohang, North Gyeongsang Province, investors flocked to energy-related shares listed on the Korean bourse.

South Korean stocked opened weaker Tuesday as investors took profit from strong gains the previous session and on mixed overnight results on Wall Street. The benchmark Korea Composite Stock Price Index slid 6.06 points, or 0.23 percent, to 2,676.46 in the first 15 minutes of trading. Overnight, Wall Street shares finished mixed amid the latest economic indicators showing a slowing of the US economy. The Dow Jones Industrial Average fell 0.3 percent while the Nasdaq composite gained 0.6 percent a

Stock prices of oil- and gas-related companies spiked Monday, following President Yoon Suk Yeol's approval for exploratory drilling of potentially massive reserves of natural resources off the country's southeastern coast. Out of 10 stocks that hit upper price limits on Monday, seven were related to oil and gas. The benchmark Kospi was up 1.74 percent from the previous day. Shares of the state-run Korea Gas Corp. surged by 29.9 percent to close at 38,600 won ($28). Other shares in the

South Korean stocks rallied by more than 1.7 percent Monday as investors' sentiment was boosted by favorable economic data that could lead to a rate cut in the United States. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index rose 46 points, or 1.74 percent, to close at 2,682.52, ending in positive territory for the second consecutive session. Trade volume was heavy at 768.6 million shares worth 13.8 trillion won ($10 billion), with gainer

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South Korean stocks got off to a strong start Monday as moderate US inflation raised hopes for a possible rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index rose 33.76 points, or 1.28 percent, to 2,670.28 in the first 15 minutes of trading. The US personal consumption expenditures price index, excluding food and energy costs, increased 0.2 percent in April, meeting market expectations. The PCE index is one of the key barometers for the US central bank to set its ton

Seoul shares ended almost flat Friday after a three-day rise ahead of key US inflation data due this week. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 1.08 point, or 0.04 percent, to close at 2,636.52. The main index has fallen 1.9 percent this week. Trade volume was heavy at 594.78 million shares worth 15.45 trillion won ($11.1 billion), with gainers far outpacing losers 533 to 332. Institutions and individuals bought a combined 1.35 trillion

Seoul shares opened higher Friday as the US economic growth grew at a slower-than-expected pace and poor corporate earnings revived hopes for the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 19.27 points, or 0.73 percent, to 2,654.71 in the first 15 minutes of trading. Investors are also awaiting US consumption data due later in the day, which may offer clues on the Fed's future policy path. In Seoul, most large-cap stocks advanced. Market bellwethe

Seoul shares dropped for the third consecutive session Thursday ahead of key US inflation data. The Korean won also dipped to the lowest in one month against the US dollar. The benchmark Korea Composite Stock Price Index fell 41.86 points, or 1.56 percent, to close at 2,635.44. Trade volume was moderate at 366.42 million shares worth 10.92 trillion won ($7.9 billion), with losers far outpacing gainers 680 to 197. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 point

US chip giant Nvidia has become South Korea's most-owned foreign stock, replacing Tesla in the top spot after four years. As of Thursday, South Koreans held a combined $11.07 billion worth of Nvidia stocks, according to the Korea Securities Depository's securities information portal. This figure surpassed $10.67 billion in Tesla shares. Nvidia has dethroned Tesla as the top stock pick among Korean investors for the first time since July 2020, when the world's biggest electric vehi

Seoul shares opened lower Thursday, tracking overnight losses on Wall Street, as the Federal Reserve appears to be in no rush to cut interest rates in the face of the strong economy and high inflation. The benchmark Korea Composite Stock Price Index fell 15.47 points, or 0.58 percent, to 2,661.83 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 points, and the tech-heavy Nasdaq composite retreated 0.58 percent to 16,920.58. The Fed

Seoul shares closed sharply lower Wednesday as investors waited for major events, including this week's US inflation data. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index plunged 45.55 points, or 1.67 percent, to close at 2,722.85. Trade volume was moderate at 431 million shares worth 12.7 trillion won ($9.36 billion), with losers far outpacing gainers 673 to 220. Foreigners dumped a net 1 trillion won, while individuals scooped up a net 1.26 t