South Korean stocks extended gains for a third consecutive session Wednesday, as investors held out optimism for progress in the US stimulus talks. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 12.45 points, or 0.53 percent, to close at 2,370.86. Trading volume was moderate at 802 million shares worth some 9.7 trillion won ($8.6 billion), with gainers outnumbering losers 675 to 183. Foreigners bought a net 6.4 billion won, while retai

South Koreans who rent their homes are less likely to get married and have children than those who own their own homes, a private think tank said Wednesday. When people who paid monthly rent were compared with homeowners, the former were 65 percent less likely to tie the knot than the latter, according to the Korea Economic Research Institute, which is under the country’s top business lobby, the Federation of Korean Industries. For people who have “jeonse” apartment leases, t

South Korean stocks opened higher Wednesday, taking a cue from an overnight rise on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.42 points, or 0.23 percent, to 2,363.83 in the first 15 minutes of trading. Local stocks got a boost from US peers, despite lingering uncertainties from the ongoing talks for the new US virus relief package. The tech-heavy Nasdaq Composite advanced 0.33 percent on Tuesday (New York time), with the Dow Jones Industrial Average adding

South Korean shares rose for a second straight session Tuesday, as investors hold on to hopes for progress in the new US stimulus talks. The Korean won rose to an 18-month high against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 11.67 points, or 0.5 percent, to close at 2,358.41. Trading volume was moderate at about 862 million shares worth some 11.7 trillion won ($10.3 billion), with losers outnumbering gainers 514 to 323. Foreigners boug

Local office space sharing firm Sparkplus is gearing up for an initial public offering next year, according to company officials on Tuesday. As the company plans to make its debut on the nation’s tech-heavy Kosdaq bourse, it recently chose local brokerage firm Mirae Asset Daewoo as its leading underwriter. However, the exact size of the deal and the date of listing have not yet been decided, the firm said. Sparkplus was jointly established by Aju Hotels & Resorts and accelerator Spar

South Korean shares opened nearly flat Tuesday amid slower-than-expected progress in the new US stimulus talks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.3 points, or 0.06 percent, to 2,348.04 in the first 15 minutes of trading. Investor sentiment remained risk-averse as negotiations for the fresh US stimulus scheme are showing meaningful progress. The Dow Jones Industrial Average fell 1.44 percent to 28,195 on Monday (New York time). The tech-heavy Nasdaq composite inde

Big name retail chains have been recently joining forces with card companies to analyze spending patterns and cater to diverse needs of consumers. Spearheading the trend, South Korea’s largest card company Shinhan Card inked a partnership with GS Retail, the operator of convenient store chain GS25, on Monday to develop new business models by analyzing data linked to items purchased and consumer behavior. By combining a wide range of data, including items sold at convenience stores and

South Korean stocks ended a four-session losing streak Monday on investors' bargain hunting rush despite disappointing growth data from China. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.21 points, or 0.22 percent, to close at 2,346.74. Trading volume was moderate at about 911 million shares worth some 10.2 trillion won ($8.9 billion), with gainers outnumbering losers 442 to 394. Institutions purchased a net 297 billion won, and fo

Shares in Big Hit Entertainment, the creative nest of K-pop superstar BTS, continued to suffer an extended slump on the third day since the company's market debut as some institutional investors dumped the stocks. Big Hit shares tumbled 5.74 percent to close at 189,000 won ($165), far underperforming the benchmark Korea Composite Stock Price Index's (KOSPI) 0.22 percent gain. The company dipped to as low as 187,000 won at one point. The entertainment firm had a rollercoaster market debut on Th

About 60 local listed firms, state-run companies and major universities had invested in the scandal-ridden Optimus funds that have lost more than 5 trillion won ($4.38 billion) so far, according to local reports Monday. The list of investors for fraudulent hedge funds operated by South Korea’s Optimus Asset Management included leading food company Ottogi, which invested 15 billion won, and Kosdaq-listed antivirus software firm AhnLab, which invested 7 billion won, according to the local K

South Korea’s sovereign wealth fund Korea Investment Corp. was seeing a stock price fall in Ontario-based marijuana maker Canopy Growth, as its $18 million bet on the company lost glitter in the first half of 2020, a lawmaker said Monday. The ruling Democratic Party of Korea’s Rep. Jung Sung-ho added the investment in the pot producer is a point of contention, not only because KIC’s bet has not led to an instant success, but also because investing in marijuana makers is an &l

South Korean stocks opened higher Monday on investors' bargain hunting rush following a drop for four straight days. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 15.37 points, or 0.66 percent, to 2,356.9 in the first 15 minutes of trading. Stocks came to a strong start, led by gains in tech and bio firms. Most large caps traded higher, with top market cap Samsung Electronics adding 1.18 percent and No. 2 chipmaker SK hynix gaining 1.88 percent. Giant pharmaceutical firm

London-based financial intelligence company PEI said Sunday it planned to hold PDI Seoul Forum Virtual Experience on Nov. 10. The virtual event, organized by PEI’s publication Private Debt Investor, is expected to offer participants a glimpse of private debt investment strategies, debt investor preferences in asset allocations and fund manager selection and monitoring processes amid challenges posed by the COVID-19 pandemic in the global capital market, PEI said. The event will feature

Retail investors scoop up W400b while foreign buyers, institutions turn to massive dumping

 Foreign investors purchased over 350 billion won ($306 million) worth of South Korean internet giants Naver and Kakao’s shares in October amid their strong preference for growth stocks in emerging markets due to unfavorable factors in the US market, data showed Sunday. According to data from the nation’s sole bourse operator, the Korea Exchange, offshore investors had purchased a net 187.4 billion won and 164 billion won worth of Naver and Kakao shares, respectively, as of Fri