South Korean stocks opened lower Thursday as the country is mulling implementing the strongest COVID-19 restrictions amid a recent surge in virus cases. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.73 points, or 0.24 percent, to 2,765.06 in the first 15 minutes of trading. On Wednesday, South Korea's daily new coronavirus cases hit a new high of 1,078, prompting authorities to consider adopting the highest level of social distancing measures, which would ban gatherings of 10

South Korea’s National Pension Service is likely to log a 7 percent return on its investments this year, the nation’s welfare minister said Wednesday. “Investment environments seem to be on a recovery path with domestic and global economic indices improving and the (local) stock market hitting record highs recently,” said Park Neung-hoo, minister of health and welfare, who chairs the NPS’ asset management committee. “The fund operator will be able to ac

Bitcoin on Wednesday came under market watch after it spiked nearly to $20,000 earlier this month and continued its rally for days, on the back of institutional investors diversifying their portfolios. The most popular cryptocurrency remained above $19,000 per coin for a third straight day Wednesday morning, according to Upbit, one of the leading cryptocurrency exchanges here operated by local financial technology firm Dunamu. After the digital coin reached a recent high of $19,850 on Dec. 1,

Amid businesses’ concerns, regulators say progress for transparency will be made through revised laws

Seoul stocks hit fresh record high on US stimulus hopes South Korean stocks snapped their two-day losing streak to end at a fresh record high Wednesday, backed by optimism over the US stimulus talks and positive reports related to US biotech company Moderna's COVID-19 vaccine candidate. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.97 points, or 0.54 percent, to close at 2,771.79.Trading volume was high at about 1.1 billion shares wo

The Kospi hit a new all-time high on Wednesday on growing hopes over US stimulus talks and reports on vaccine candidates, closing at 2,771.79. The tech-heavy Kosdaq also rose to 939.65, marking its highest level in nearly 19 years. Amid the continued stock market rally, the total amount of loans taken out for stock investments by individuals in South Korea has exceeded 19 trillion won ($17.37 billion) for the first time, market data showed. After crossing the 19 trillion-won mark Monday, the

The market watchdog Financial Supervisory Service said Wednesday the novel coronavirus outbreak has been posing a negative impact to the country’s real estate funds that invest in overseas properties.  A real estate fund is an investment vehicle designed to pool money from both individual and institutional investors to trade in properties. To profit, the funds usually either purchase commercial real estate for lease or provide loans to companies working on infrastructure and industri

South Korean stocks opened higher Wednesday after overnight Wall Street gains, as investors pinned their hopes on a US stimulus deal. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.31 points, or 0.52 percent, to 2,771.13 in the first 15 minutes of trading. The KOSPI rebounded after a two-session retreat, despite the country's surging COVID-19 cases. Stocks increased on rosy expectations of a Santa rally, in addition to anticipations that the world's largest economy would ha

An extra 60 trillion won ($54.91 billion) worth of foreign funds could flow into the South Korean stock market if the nation joins the Morgan Stanley Capital Investment Advanced Market Index, a market expert suggested Tuesday. Korea, the world’s 10th-largest exporter, ranked No. 9 in terms of stock market capitalization, making it a candidate for the MSCI list of developed markets, said Lee Hyo-seob, a senior research fellow at the Korea Capital Market Institute, at a forum co-hosted by

South Korean stocks slumped for the second consecutive session Tuesday, as investors sought to cash in part of recent gains amid spiking virus cases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.38 points, or 0.19 percent, to close at 2,756.82, with construction and bio sectors having led the KOSPI's retreat. Trading volume was moderate at about 1.1 billion shares worth some 15.3 trillion won ($14.5 billion), with gainers outnumberin

The Korea-housing affordability index, or K-HAI, which measures median household income relative to the income needed to buy a median-priced house, in Seoul reached a record high in 11 years in the July-October period this year. The index increased 1.7 points from the previous quarter to 144.5—the highest since the figure came to 150.8 in the fourth quarter of 2009. A value of 100 means that a family would have to put 25 percent of their income toward paying off the mortgage. A higher r

South Korean shares opened lower Tuesday tracking overnight Wall Street gains, as lockdown concerns in major economies offset optimism over the emergency launch of Pfizer's coronavirus vaccinations in the United States. The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.22 points, or 0.48 percent, to 2,748.98 in the first 15 minutes of trading. Local large caps dipped on foreign and institutional selling, as well as on aggravating the pandemic toll in the US, Europe and Asia. So

South Korea’s top financial regulator said Monday it is premature to discuss plans on opening individual investors‘ access to short-selling activities of Korean shares, stressing the danger of small investors taking potentially massive risks. “Considering potential financial damage from short-selling, I personally hope ordinary retail investors don’t participate in it,” said the FSC Chairman Eun Sung-soo during a press conference held online due to the COVID-19 r

Investors from the UK became the biggest net buyers in the South Korean stock market, as they bought shares worth 2.2 trillion won ($2.02 billion) in November, which accounted for nearly 36 percent of stocks purchased by foreign investors in the month, according to data Monday. The data from the nation’s watchdog Financial Supervisory Service showed that foreign investors net purchased shares worth some 6.1 trillion won in November, the highest monthly purchase since September 2013, whe

South Korean stocks finished lower Monday as investors remained wary of the country's spiking new coronavirus outbreaks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 7.86 points, or 0.28 percent, to close at 2,762.2 points. Trading volume was moderate at about 1.1 billion shares worth some 16.8 trillion won ($15.4 billion), with losers outnumbering gainers 577 to 276. Foreigners sold a net 360 billion won, while retail investors