South Korean stocks closed higher on Monday as individual and institutional buyers scooped up big cap stocks offseting a selling spree by foreigners amid uncertainties at both home and abroad, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index advanced 4.63 points, or 0.20 percent, to close at 2,290.65. Trade volume was moderate at 248 million shares worth 4.58 trillion won ($4.07 billion), with losers outnumbering gainers 406 to 393.Foreign

The ongoing increase of household debt brings focus on whether President Moon Jae-in will manage to fulfill his pledge of curbing swelling household debt, which has long been a drag on South Korea’s economy.Household borrowing from lenders in Asia’s fourth-largest economy rose 7.3 trillion won ($6.5 billion) in April, according to preliminary data from the Financial Services Commission on Monday. The monthly increase was sharper compared to the previous month. The volume of debt rose

With President Moon Jae-in promising to create 810,000 jobs and enhance welfare for ordinary people, the new government needs a big boost in fiscal income to execute jobs and welfare programs.The Finance Ministry is preparing for a possible change in its tax code plan, which is expected to be completed by the end of July, according to ministry officials. After announcing the tax code plan, the ministry has to submit the plan along with the 2018 budget proposal to the National Assembly by Sept. 1

The dollar-won volatility eased in April from a month earlier in line with eased volatility in the global financial markets, central bank data showed Monday.The session-over-session changes in the dollar-won exchange rates averaged 0.43 percent last month, compared to 0.47 in March, the Bank of Korea said in a statement.  "The won fell against the dollar in April due to geopolitical risks and remittances of dividends by foreign investors," the statement said.Tensions heightened on

South Korean shares traded higher late Monday morning as institutional buyers scooped up big cap stocks amid a massive selling spree by foreigners.The benchmark Korea Composite Stock Price Index added 6.35 points, or 0.28 percent, to 2,293.37 as of 11:20 a.m.The index opened lower on losses in market heavyweights, including market bellwether Samsung Electronics. However, the local index pared earlier losses as most market heavyweights turned higher.Top cap Samsung Electronics added 0.74 percent,

The daily turnover of South Korea's main stock market has reached a 22-month high in May on the back of strong foreign buying, data showed Monday.The daily value of shares traded on the main stock market has averaged 6.67 trillion won ($5.92 billion) through Friday this month, up 45 percent from the previous month and 32.4 percent from a year earlier, according to the data by the bourse operator Korea Exchange. In particular, the turnover reached a monthly peak of 9.38 trillion won on May 10, a

South Korean stocks opened lower Monday as foreign investors continued to dump market heavyweights, such as Samsung Electronics amid lingering geopolitical uncertainties.The benchmark Korea Composite Stock Price Index lost 4.7 points, or 0.21 percent, to 2,281.32 in the first 15 minutes of trading.Earlier in the day, North Korea said that it has successfully tested-fired a new surface-to-surface intermediate-range ballistic missile, claiming that the US mainland is within its reach.Market bellwe

Financial regulators have restarted their postponed discussion to consolidate a financial supervision system, a measure aimed at better spotting potential financial risks. The move is part of the Moon Jae-in administration’s chaebol reform drive, by examining financial transfers between a group’s companies, including loans and investments such as cross-shareholding. 　 The Financial Services Commission and Financial Supervisory Service have reportedly picked up talks on how to oversee

Despite the record-setting bull run on South Korea’s main bourse, 4 out of 10 stocks there fell, data from the Korea Exchange showed Sunday.The KRX said 302 stocks out of 750 listed on the benchmark Korea Composite Stock Price Index fell as of Thursday compared to Dec. 29, accounting for 40.3 percent. The Kospi rose 13.32 percent over the cited period, from 2,026.46 to 2,296.37. As for the listed firms of both the first-tier and second-tier stock markets, 890 stocks out of 1,973, accountin

South Korean stocks ended slightly lower Friday on increased selling by foreigners and institutions.The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index shed 10.35 points, or 0.45 percent, to 2,286.02.Bae Sung-young, a market analyst at KB Securities Co., said foreigners and institutions offloaded stocks in apparent profit-taking, which are to blame for losses on the main bourse.Kim Ye-eun, an analyst at Cape Investment & Securities, also said foreign sel

South Korea's central bank said Friday it has named an expert on foreign reserves as the new head of its Reserve Management Group.Suh Bong-gook, director general at the International Department of the Bank of Korea, will be in charge of planning, investment and risk management of the country's foreign reserves, according to the BOK. As of the end of April, the country's foreign exchange reserves came to $376.57 billion, up $1.27 billion from the previous month, according to the BOK.Suh worked at

Earnings made by the National Pension Service through its investments in local stocks have amounted to 13 trillion won ($11.5 billion) this year, with the main bourse Kospi recently hitting highs above the 2,300 level, industry data showed Friday.The appraised value of local stocks held by the nation‘s largest institutional investor rose 13.5 percent from 93.6 trillion won at the end of last year to 106.2 trillion won as of Wednesday, according to financial data tracker FnGuide. The value

South Korean stocks extended losses late Friday morning as foreign investors offloaded large-cap stocks.The benchmark Korea Composite Stock Price Index lost 8.25 points, or 0.36 percent, to 2,288.12 as of 11:15 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.11 percent, with the tech-heavy Nasdaq composite index declining 0.22 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign selling of large-cap stocks worth nearly