Foreign investors extended a net purchase of South Korean equities for the second consecutive month in November, supported by hopes of a global economic recovery from the coronavirus pandemic, the central bank said Thursday. Foreigners bought a net $5.52 billion worth of local stocks last month, compared with a net purchase of $1.38 billion in October, according to the Bank of Korea (BOK). Offshore investors became net sellers of Korean bonds worth $450 million last month, the BOK said. Meanw

South Korea's benchmark stock index opened sharply lower Thursday on overnight Wall Street tech losses and reports of allergy cases related to the vaccinations in Britain. The Korea Composite Stock Price Index fell 26.77 points, or 0.97 percent, to 2,728.7 in the first 15 minutes of trading. The fall was led by shares of tech giants, tracking a 1.94 percent overnight plunge on the Nasdaq composite. The US Federal Trade Commission's antitrust lawsuit against Facebook dropped investor appetite f

Stock analysts are setting bullish targets on South Korea‘s main stock market index Kospi, as optimism for strong earnings growth next year abound, while investors backed by ample market liquidity are zeroing in on equities as their choices are increasingly limited. The views came as the Kospi on Wednesday resumed its record run by closing at 2,755.47. The index rebounded 2 percent from a day prior when Kospi retreated from the five-trading-day rally since the start of December. Kospi, w

South Korean stocks closed at an all-time high Wednesday, driven by progress of COVID-19 vaccines amid optimism over US stimulus talks. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 54.54 points, or 2.02 percent, to close at 2,755.47. Trading volume was high at about 1.2 billion shares worth some 16.8 trillion won ($15.5 billion), with gainers outnumbering losers 658 to 192. Foreigners bought a net 162 billion won, while retail investo

South Korea’s financial behemoth Shinhan Financial Group is slated to gain full ownership of its newly-acquired subsidiary Neoplux -- a former venture capital arm under Doosan Group -- as soon as the two sides complete a small-scale stock exchange at the end of this month, a filing showed Wednesday.  According to DART, the Financial Supervisory Service’s electronic disclosure board, the banking giant will carry out the small-scale stock exchange with Neoplux on Dec. 30. Starti

An exchange-traded fund operated by the Vietnam branch of South Korea‘s leading asset management firm Mirae Asset Global made a market debut in the Southeast Asian country‘s stock market, the company said Wednesday. The so-called Mirae Asset VN30 Exchange Traded Fund is designed to invest in 30 blue-chip Vietnamese companies, including Vingroup Joint Stock Company, Vietcombank and Vinamilk. Its shares account 76 percent of the total market capitalization of the nation’s public

South Korea's vice finance minister warned Wednesday against potential excessive overheating in stock and property markets, saying that asset prices could spike amid ample liquidity and the economic recovery. First Vice Finance Minister Kim Yong-beom made the remarks as the country's stock prices hit a fresh record high in recent sessions and housing prices have not stabilized despite a series of the government's measures. "We need to be wary of the possibility that market volatility coul

South Korean stocks opened higher Wednesday, tracking overnight Wall Street gains, as Britain started mass-vaccinations against COVID-19 amid optimism over US stimulus talks. The benchmark Korea Composite Stock Price Index rose 23.39 points, or 0.87 percent, to 2,724.32 in the first 15 minutes of trading. Local stocks traded bullish with reignited stimulus hopes in the United States, following Senate Majority Leader Mitch McConnell's offer to set aside some deadlock factors from the relief pa

South Korea’s secondary bourse has continued to rally over the past few weeks, touching the 930-point mark during early trading on Tuesday and marking an 18-year high. The tech-heavy bourse reached 2,834.40 on March 10, 2000, the result of so-called “dotcom fever.” Since that bubble burst, it has never again surpassed the 943 points posted March 22, 2002. Considering the recent record-breaking rallies in the nation’s main bourse, Kospi, expectations are also high for K

South Korean stocks dipped more than 1.5 percent Tuesday, snapping a five-session winning streak on concerns over the new coronavirus resurgence around the globe. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 44.51 points, or 1.62 percent, to close at 2,700.93. Trading volume was high at about 1.4 billion shares worth some 16.9 trillion won ($15.6 billion), with losers outnumbering gainers 567 to 277. Foreigners sold a net 846 bi

South Korea’s brokerage house KB Securities said Tuesday it has teamed up with New York-based multinational investment bank Jefferies Group to establish a co-brand alliance for equity research, sales and trading. Under the term, Jefferies will distribute equity research on listed companies in Korea produced by KB Securities on a co-branded basis to Jefferies’ global institutional client base. KB Securities will also offer Korean equity brokerage services to Jefferies and its interna

South Korean stocks opened lower Tuesday, taking a cue from overnight losses on Wall Street amid concerns over the new coronavirus resurgence in global markets. The benchmark Korea Composite Stock Price Index fell 8.83 points, or 0.32 percent, to 2,736.61 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average retreated 0.49 percent to 30,069.79 points on rising COVID-19 cases and disappointing jobless data. The Nasdaq composite gained 0.45 percent, but the S&P 500

South Korean brokerage houses have raised their target prices of Samsung Electronics Co. on signs of a recovery in global chip demand, sources said Tuesday. Some analysts predict the share price of Samsung Electronics, the world's top memory chip maker, to rise as high as 90,000 won ($83) after reaching the 70,000 won range on hopes of a rebound in its semiconductor business. Samsung Electronics, also the No. 1 smartphone manufacturer in the world, finished at an all-time high of 72,900 won on

South Korea's main bourse on Monday postponed its decision on whether to delist the scandal-ridden drugmaker Kolon TissueGene, Inc. as it needs more time to make a final decision on the company's delisting. The postponment is expected to provide tech-heavy KOSDAQ-listed Kolon TissueGene a chance to present another turnaround program to the KOSDAQ market committee under the main Korea Exchange (KRX). The main stock exchange said it will reopen the review meeting, without giving the timeframe.

The South Korean stock market extended its all-time high for a fifth consecutive session Monday, backed by chip and pharmaceutical gains amid the government's strengthened social distancing measures. The Korean won closed unchanged at a nearly 30-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 13.99 points, or 0.51 percent, to close at 2,745.44. Trading volume was high at about 1.5 billion shares worth some 17.7 trillion won ($16.4 billion), with