South Korea unveiled Wednesday a tighter set of real estate market rules aimed at taming speculation and deterring the rise of housing prices in what is considered to be the strongest set of measures in nearly six years. Starting Thursday, the capital Seoul, the administrative city Sejong and Gwacheon will be named “overheated speculative districts,” with the loan limits of those buying homes there to be tightened to 40 percent of their property value from the current 60 percent, acc

South Korean stocks closed higher Wednesday as foreign buyers scooped up large-cap tech and telecom shares, offsetting a massive selling spree by institutional investors. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 4.67 points, or 0.19 percent, to close at 2,427.63. Trade volume was low at 258 million shares worth 5.2 trillion won ($5 billion), with gainers outnumbering losers 461 to 341.Foreign investors reversed a seven-day selling streak

South Korean stocks traded higher late Wednesday morning as foreign investors scooped up large-cap tech and telecom shares, tracking overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index gained 4.77 points, or 0.2 percent, to 2,427.73 as of 11:20 a.m.On Tuesday (local time), the US Dow Jones industrial average climbed 0.33 percent toward a fresh record and the S&P rose 0.24 percent. The Nasdaq Composite Index also gained 0.23 percent. Most large caps traded mixe

South Korean stocks opened higher on Wednesday, largely helped by bullish tech caps.The benchmark Korea Composite Stock Price Index gained 4.34 points, or 0.18 percent, to reach 2,427.30 in the first 15 minutes of trading.  Performance of large-cap stocks were mixed, with tech shares pushing the bourse up.Market behemoth Samsung Electronics added 0.9 percent and global chipmaker SK hynix jumped 2.9 percent.The local currency was trading at 1,122.1 won against the US dollar, down 0.8 won fro

Despite a bullish stock market, retail investors lost big in their equity investments in July, data showed Wednesday, due to insufficient strategy and information.The top 20 stocks purchased by individuals tumbled 6.11 percent on average last month, according to the data compiled by market tracker FnGuide.In contrast, their 20 most sold stocks generated an average return of 8.07 percent, far higher than the 1.02 percent on-month gain in the benchmark Korea Composite Stock Price Index.Driven by s

Investors from the United Kingdom traded the largest volume of stocks in terms of value on South Korean markets, beating out investors from other countries in May and June, data from the Financial Supervisory Service showed Tuesday.In June, UK buyers engaged in trading stocks worth 25.8 trillion won ($23.1 billion), accounting for 33.1 percent of the entire offshore stock trading on the first-tier market. UK investors bought Kospi shares worth 12.93 trillion won and sold 12.89 trillion won.The U

South Korean stocks closed higher Tuesday on the back of improved investor sentiment despite growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 20.25 points, or 0.84 percent, to close at 2,422.96. Trade volume was slim at 259 million shares worth 5.5 trillion won ($5.1 billion), with gainers far outnumbering losers 608 to 204.Analysts sai

BNP Paribas Cardif Life Insurance in Korea announced Tuesday that its board members have appointed Benoit Meslet as the company’s new representative director and CEO, succeeding former head Jean-Christophe Darbes. 　Officially starting his post Tuesday, Meslet has more than 15 years of experience in the financial services and insurance industries, including an extensive background in product development across Asia. 　Prior to joining BNP Paribas Cardif, he worked as the chief transformation

　Allianz Life has officially been renamed ABL Life Insurance Co., it announced Tuesday. 　According to the new ABL Life, the revised corporate name represents its strong ties and association with the company’s major shareholder Anbang Insurance Group, and reflects its vision, “With you for a better life.” 　ABL Life also announced it will revitalize its portfolio of advanced digital products and smart services. The company said it will focus on establishing a digital environment

South Korean shares move up late Tuesday morning, paring earlier losses, helped by a buying-spree by institutions.The benchmark Korea Composite Stock Price Index rose 23.94 points, or 1 percent, to 2,462.65 as of 11:20 a.m. The broad index started lower, but soon turned positive as institutional buyers scooped up market heavyweights.Most large caps traded in positive terrain with market kingpin Samsung Electronics adding 0.36 percent and SK hynix, a major chipmaker, moving up 0.3 percent. Leadin

South Korean stocks opened lower early Tuesday due to losses by technology companies, such as market kingpin Samsung Electronics, analysts said.The benchmark Korea Composite Stock Price Index fell 4.89 points, or 0.18 percent, to 2,398.32 in the first 15 minutes of trading. Tech shares mostly lost ground, with Samsung Electronics moving down 1.2 percent and No. 2 chipmaker SK hynix shedding 1.36 percent. LG Display also surrendered 0.79 percent. Auto shares, meanwhile, were in positive terrain,

British investors were most active stock traders among foreigners in South Korea in June, with Americans holding the largest amount of local shares, the financial watchdog said Tuesday.The value of local stocks traded by offshore investors came to slightly upwards of 78 trillion won ($69.7 billion) in June, accounting for nearly 30 percent of the total market turnover, according to data by the Financial Supervisory Service.Turnover by British investors stood at 25.8 trillion won that month, taki

South Korean institutional investors loaded up on stocks in the final sessions of July, helping the local stock market keep its bullish run, data showed Tuesday.In a turnaround from their net selling position, local institutions turned net buyers in the final four days of last month, purchasing a net 1.78 trillion won ($1.59 billion) for all of the month, according to the data by the bourse operator Korea Exchange.Institutional investors had been net sellers till last Tuesday.In contrast, foreig

South Korea’s main bourse index on Monday saw a recovery from Friday’s drop of 1.73 percent, the largest in nearly 13 months.The Kospi edged up 0.07 percent from Friday to close at 2,402.71 on Monday. Tech giants Samsung Electronics and SK hynix rose 0.92 percent and 2.17 percent, slight recoveries compared to slides of 4.1 percent and 5.56 percent, respectively, Friday.While viewing Friday’s plunge of the Kospi as “short-term noise,” local analysts said time is rip

South Korean stocks finished slightly higher Monday with institutions going on a buying spree as foreign and individual investors dumped local shares to lock in recent gains, amid growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index edged up 1.72 points, or 0.07 percent, to close at 2,402.71. Trade volume was modest at 273.94 million shares worth 5.