South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street that stemmed from growing hopes of progress in the US stimulus talks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.52 points, or 0.79 percent, to 3,115.76 points in the first 15 minutes of trading. Market kingpin Samsung Electronics added 1.81 percent, and No. 2 chipmaker SK hynix hiked 3.2 percent. Hyundai Motor gained 1.07 percent following heavy losses the previous session after saying tha

Shares of South Korea’s Hyundai Motor Group affiliates saw their stocks slump Monday after an announcement that the carmaker is not in talks with US tech giant Apple for a self-driving vehicle project. Shares of Hyundai Motor crumbled 6.21 percent to 234,000 won ($208.94), with its smaller affiliate Kia plunging 14.98 percent to 86,300 won, at the closing bell. The firms at one point plummeted as much as 8.42 percent and 15.27 percent, respectively, in the early morning trade. Other key

Once the fastest emerging source of foreign capital into European real estate asset investments, South Korea‘s investors were seen redirecting their attention to the Americas in 2020, data showed Monday. According to data from US-based property market tracker Real Capital Analytics, Korea’s capital going directly into assets in Europe, the Middle East and Africa, each valued at $10 million or greater, fell by 78 percent on-year to $3 billion in 2020. Koreans in 2019 were the

South Korea's benchmark stock index slumped below the 3,100-point mark Monday despite spreading optimism for an economic rebound, largely on losses by Hyundai Motor and its affiliate Kia Corp. as the two automakers said they are not in talks with Apple Inc. over an electric vehicle project. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 29.39 points, or 0.94 percent, to close at 3,091.24 points. Trading volume was high at about 1.3 billi

Despite the recent stock price saga of US video gaming retailer GameStop, the company was not the most-traded stock among South Korean investors in January, according to data on Monday. In data compiled by Korea Securities Depository, a post-trade service provider, the gaming retailer came second in terms of stock transactions last month, with the trading volume reaching $2.4 billion. Korean traders net bought some $1.1 billion worth of GameStop shares and net sold $1.3 billion over the month

South Korean stocks opened lower Monday on losses by auto-related shares in the wake of a paused partnership between South Korean carmaker Kia Corp. and US tech behemoth Apple Inc. The benchmark Korea Composite Stock Price Index fell 20.01 points, or 0.64 percent, to 3,100.62 in the first 15 minutes of trading amid strong foreign selling. Auto shares dipped following reports that Apple recently paused its partnership discussions with Kia. The US tech giant has been reportedly in talks with mul

South Korean retail investors have bet big on global tech giant Samsung Electronics this year, but their investments have failed to pay off due to a recent pullback in its share price, data showed Monday. Local individual investors have purchased a net 13.4 trillion won ($11.9 billion) worth of shares of the world's leading smartphone and memory chip maker this year, according to the data from the Korea Exchange. The amount accounted for far more than half of retail investors 23.6 trillion won

Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a second consecutive month, data showed Monday. Foreigners sold a net 2.65 trillion won ($2.35 billion) worth of local stocks in January, according to the data from the Financial Supervisory Service (FSS). American investors sold a net 3.43 trillion won of stocks last month, while Singapore's investors net purchased 1.6 trillion won worth of stocks, according to the FSS. As of end-Janua

South Korean retail investors have continuously injected more funds into high-risk financial products like cryptocurrency and stocks this year on the back of strong market rallies last year and the ongoing ultralow-rate environment, data showed Sunday. Major local lenders saw their demand deposits decline by nearly 10 trillion won ($8.95 billion) from a month earlier in January. The combined amount at Shinhan, KB Kookmin, Woori, KEB Hana and NH banks came to 637.86 trillion won as of end-Januar

South Korean stocks are likely to move in a tight range next week on eased market volatility as individuals and foreigners -- the driving forces behind the key stock index's stellar gains last month -- are expected to pull the key stock index in the opposite directions, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,126.63 points Friday, up 4.85 percent from a week ago. The KOSPI has undergone a major adjustment since last week due to rapid valuatio

Financial Services Commission Chairman Eun Sung-soo on Friday pledged all-out efforts to establish a monitoring system to detect illegal short selling before the financial regulator allows the practice to resume in May.  Short selling is a trading tactic whereby investors immediately sell borrowed stocks on a bet that share prices will fall, allowing them to later repurchase the stocks and return them to the lender. Some investors sell stocks without borrowing, known as “naked&rdqu

South Korean stocks rebounded Friday in line with rallies in global stock markets, as signs of recovery from the pandemic boosted foreign buying of local stocks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 33.08 points, or 1.07 percent, to close at 3,120.63 points. Trading volume was moderate at about 1.2 billion shares worth some 19.4 trillion won ($17.3 billion), with gainers outnumbering losers 504 to 339. Foreigners bought a net

Credit card issuer BC Card said Friday that it has named Choi Won-seok, a former head of local financial firm FnPricing, as its new chief executive. The CEO hiring process will be complete after a shareholders meeting and board meeting slated for next month. Choi is an expert in the financial and IT segments, having developed systems that evaluate financial products at FnPricing. He has served as an outside board director for the card company for the past six years. The CEO appointee has

Line, a Tokyo-headquartered mobile messenger subsidiary of South Korean tech firm Naver, said Friday that it had won a license from Taiwan’s Financial Supervisory Commission to launch an online bank in Taiwan. Since Line received a permit to set up an online banking business in the nation in 2019, Taiwanese financial authorities had been carrying out due diligence procedures on the internet-only bank. The mobile messenger firm said it would cooperate with the Taiwanese authorities to e

South Korean stocks opened higher Friday, taking a cue from overnight record gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.3 points, or 0.75 percent, to 3,110.85 points in the first 15 minutes of trading. Market kingpin Samsung Electronics added 0.85 percent, and No. 2 chipmaker SK hynix hiked 1.6 percent. Internet portal giant Naver moved up 2.51 percent, with its rival Kakao up 0.22 percent. Leading chemical maker LG Chem jumped 3.1 percent, and rech