South Korean stocks hit another all-time high Wednesday for the second consecutive session on the back of optimism surrounding COVID-19 vaccines and US stimulus. The Korean won sharply rose to an over 29-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 41.65 points, or 1.58 percent, to close at 2,675.9. Trading volume was high at 1.05 billion shares worth around 16.9 trillion won ($15.3 billion), with gainers outnumbering losers 475 to 353. Forei

Buoyed by foreign investors’ buying, Kospi again hits all-time closing high of 2,675.90

South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street amid optimism surrounding the possible availability of COVID-19 vaccines. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.16 points, or 0.92 percent, to 2,658.41 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.63 percent higher, while the tech-heavy Nasdaq composite rose 1.28 percent, boosted by vaccine hopes. Pfizer with BioNTech and Moderna applied fo

South Korea's stock prices rose at the 10th-fastest pace among the Group of 20 (G-20) nations with major economies posting double-digit surges, data showed Wednesday. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 14.30 percent in November from the prior month, outpacing the previous record monthly increase of 13.52 percent recorded in April 2009. It was the 10th highest hike among the G-20 economies and outperformed their average 14.1 percent expansion. All G-20 members saw

Mirae Asset Global Investments, one of South Korea’s largest asset management firms, said Tuesday that it won a US court case against Chinese insurer Anbang Insurance Group over legal disputes involving a $5.8 billion deal to acquire luxury hotels. The Delaware Court of Chancery rejected Anbang’s demand of Mirae Asset to pay off the rest of the deal, and ordered the Chinese insurer to return $580 million it received from the South Korean company as a deposit of the deal, with inte

South Korean stocks rebounded from a sharp decline the previous session to hit a new all-time high Tuesday on the back of upbeat economic data, lifting hopes for a faster-than-expected recovery amid the pandemic. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 42.91 points, or 1.66 percent, to close at 2,634.25. Trading volume was high at about 1.1 billion shares worth some 15.7 trillion won ($14.2 billion), with gainers outnumbering los

Sohn Byung-doo, former vice chairman of the Financial Services Commission, was named as the single candidate for the new chair post of the Korea Exchange, South Korea’s sole bourse operator, according to industry sources Tuesday. After conducting final interviews of three candidates a day earlier, the KRX’s chairman recommendation committee chose Sohn, insiders said without giving the names of the two others. The securities exchange operator is slated to hold a shareholders’ g

South Korean stocks opened higher Tuesday on the back of upbeat economic data that raised hopes for a faster-than-expected recovery amid the pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) rose 36.05 points, or 1.39 percent, to 2,627.39 in the first 15 minutes of trading. South Korea's economy grew 2.1 percent in the July-September period from the previous quarter, faster than its earlier estimate of 1.9 percent expansion. The country's exports also rebounded, rising 4 perce

South Korean shares dropped more than 1.5 percent Monday after hitting an all-time high the previous session as investors attempted to cash in gains. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 42.11 points, or 1.6 percent, to close at 2,591.34. Trading volume was high at about 1.28 billion shares worth some 20.4 trillion won ($18.4 billion), with losers outnumbering gainers 511 to 331. Foreigners sold a net 2.4 trillion won, while

While South Korea’s benchmark index hit an all-time record of 2,633.45 on Friday, a global market gauge also reached a new high, suggesting the country’s stock market may be overvalued. The Buffett indicator -- US investor Warren Buffett’s preferred market indicator -- marked 112.7 percent as of Friday, according to data from the Bank of Korea and Korea Exchange on Monday. The indicator is calculated by dividing combined listed stocks’ market capitalization by the coun

South Korean stocks opened almost flat Monday after the benchmark index set a fresh record high the previous session amid a resurgence of COVID-19 cases. The Korea Composite Stock Price Index (KOSPI) rose 1.05 points, or 0.04 percent, to 2,634.5 in the first 15 minutes of trading. Stocks got off to a muted start as a recent surge in infections dampened investor hopes for a faster-than-expected economic recovery amid global development of new COVID-19 vaccines. Investors are also tempted to lo

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