Seoul shares opened higher Monday, tracking gains on Wall Street last week, with investors staying concerned over the US Federal Reserve's further rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 20.83 points, or 0.83 percent, to 2,521.77 in the first 15 minutes of trading. The main index stayed nearly unchanged last week, closing 0.02 lower at 2,500.94 on Thursday. The stock market was closed Friday to celebrate Children's Day. On Wednesday, Fed Chair

South Korean stocks closed almost flat Thursday, after the US Federal Reserve spurned the possibility of an imminent end to the rate hike cycle and ruled out that a rate cut is unlikely to happen anytime soon. The local currency gained sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 0.46 points, or 0.02 percent, to 2,500.94. Trading volume was moderate at 797.8 million shares worth 9.85 trillion won ($7.43 billion), with decliners slightly outnumbering gainers

South Korean stocks opened marginally lower Thursday after the US Federal Reserve threw cold water on market expectations that the rate hike cycle is soon nearing an end, ruling out the possibility of a rate cut this year. The benchmark Korea Composite Stock Price Index slipped 3.42 points, or 0.14 percent, to 2,497.98 in the first 15 minutes of trading. Fed Chair Jerome Powell said after its policy meeting that it's too soon to say the rate hike cycle is over as the Fed believes the inflat

South Korean stocks snapped a three-day winning streak on Wednesday as uncertainties surrounding the US banking crisis reignited recession fears ahead of the Federal Reserve's policy meeting this week. The local currency edged up against the US dollar. The benchmark Korea Composite Stock Price Index retreated 22.99 points, or 0.91 percent, to close at 2,501.40. Trading volume was moderate at 877.4 million shares worth 9.72 trillion won ($7.26 billion) with decliners outnumbering gainers 524

South Korean stocks opened lower Wednesday on renewed fears over the US banking crisis following the auction of a US regional bank ahead of the Federal Reserve's policy meeting this week. The benchmark Korea Composite Stock Price Index slid 13.66 points, or 0.54 percent, to 2,510.73 in the first 15 minutes of trading. Wall Street ended the session down overnight as uncertainties arose over the financial system following the sale of the First Republic Bank to JPMorgan Chase & Co., led by

South Korean stocks closed higher Tuesday to extend their winning streak to a third day ahead of the US Federal Reserve's policy meeting later this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 22.86 points, or 0.91 percent, to finish at 2,524.39. Trading volume was moderate at 691.3 million shares worth 9.79 trillion won ($7.3 billion), with gainers outnumbering decliners 638 to 248. Foreigners bought a net 341.8 billion won of

Group seeks deals in Southeast Asia, more investment banking in US, Europe

South Korean stocks opened higher Tuesday, as investors await to see a widely expected interest rate hike by the US Federal Reserve in the policy meeting later this week. The benchmark Korea Composite Stock Price Index rose 17.57 points, or 0.7 percent, to trade at 2,519.10 in the first 15 minutes of trading. The Fed is expected to raise the interest rate by another 0.25 percentage point at the end of the Federal Open Market Committee on Wednesday in what will be the latest move in its aggressiv

The authorities are scrambling to respond to what could be one of the largest stock price manipulation cases in recent years. The authorities, including the Financial Supervisory Services, are investigating deals involving the stocks of eight companies, the combined market capitalization of which fell around 8 trillion won this week. The shares of the companies -- Samchully, Daesung Holdings, Seoul Gas, Sebang, Sun Kwang and Daou Data – began dropping abruptly earlier this week without a

South Korean stocks ended higher Friday as chips and platform shares gathered ground on expectations for a better outlook despite recession woes. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 5.72 points, or 0.23 percent, to close at 2,501.53, extending the winning streak to a second session. Trading volume was moderate at 762.56 million shares worth 13.64 trillion won ($10.18 billion), with decliners outpacing gainers 448 to 423. The index

South Korean stocks opened higher Friday, tracking overnight gains on Wall Street, as major chipmakers and platform operators gathered ground on hope of a better outlook. The benchmark Korea Composite Stock Price Index added 6.72 points, or 0.27 percent, to 2,502.53 in the first 15 minutes of trading. Overnight, US shares ended higher as Meta Platforms' upbeat quarterly earnings report boosted tech shares. The Dow Jones Industrial Average rose 1.57 percent, and the tech-heavy Nasdaq Composi

Kakao Pay Corp., the fintech unit of South Korean tech giant Kakao, said Thursday it plans to acquire a controlling stake in Siebert Financial Corp., a US brokerage firm, as part of efforts to expand its financial business abroad. Kakao Pay said in a regulatory filing it has signed a deal to purchase Siebert's new shares worth $17 million. The deal, set to be completed on May 4, will allow Kakao to secure a 19.9 percent stake in the New York-based firm. After winning approval from shareho

South Korean stocks ended higher Thursday after a five-session losing streak as investors picked up tech bargains despite concerns about the global banking sector instability and an economic recession. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 10.98 points, or 0.44 percent, to close at 2,495.81. Trading volume was moderate at 722.69 million shares worth 10.97 trillion won ($8.19 billion), with decliners outpacing gainers 465 to 405. Reta

South Korean stocks opened lower Thursday on Samsung Electronics' poor earnings and renewed concerns about the health of the global banking system. The benchmark Korea Composite Stock Price Index shed 11.7 points, or 0.47 percent, to 2,473.13 in the first 15 minutes of trading. Overnight, US shares ended mixed as concerns about the US banking sector instability overshadowed upbeat corporate business results. The Dow Jones Industrial Average lost 0.68 percent, while the tech-heavy Nasdaq Com

South Korean stocks ended slightly lower Wednesday, as investors began assessing corporate quarterly earnings amid renewed concerns over the stability of the global banking system and the Sino-US rivalry. The local currency fell to a yearly low against the US dollar. The benchmark Korea Composite Stock Price Index shed 4.19 points, or 0.17 percent, to close at 2,484.83, extending its losing streak to a fifth session. Trading volume was heavy at 1.01 billion shares worth 12.24 trillion won ($9.16