South Korean stocks finished almost unchanged Tuesday as investors remain cautious ahead of the US Federal Reserve's interest rate-setting meeting and the release of key inflation data. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 0.62 point, or 0.03 percent, to close at 2,372.40. Trading volume was a bit light at 438.75 million shares worth 6.39 trillion won ($4.90 billion), with decliners outstripping gainers 436 to 416. The market op

Korea’s financial regulator denies report it is considering to mandate approval of cryptocurrency listing after wemix delisting fiasco

South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street, with the US Federal Reserve's upcoming interest rate-setting meeting in focus. The benchmark Korea Composite Stock Price Index added 9.36 points, or 0.39 percent, to 2,382.38 in the first 15 minutes of trading. Overnight, US shares finished higher following last week's deep losses. The Dow Jones Industrial Average jumped 1.58 percent, and the tech-heavy Nasdaq Composite rose 1.26 percent. The Federal Re

South Korean stocks finished lower Monday as investors remained cautious about the United States' monetary policy direction ahead of a rate-setting meeting amid deepening recession fears. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 16.02 points, or 0.67 percent, to close at 2,373.02. Trading volume was a bit light at 489.54 million shares worth 5.72 trillion won ($4.37 billion), with decliners outstripping gainers 486 to 363. Instituti

Woori Bank, one of South Korea’s top banks, is offering multilingual services on Sundays at five branches around the country. The five branches -- Ansan, Uijeongbu and Balan in Gyeonggi Province, Gwanghui-dong in Seoul and Gimhae in South Gyeongsang Province -- will be open on Sundays from 10 a.m. to 4 p.m. Foreigners can access general banking services in 10 languages, including English, Chinese, Thai and Indonesian. The services include making deposits, withdrawals, overseas transfers an

South Korean stocks opened lower Monday as investors were cautious ahead of the US Federal Reserve's rate-setting meeting this week. The benchmark Korea Composite Stock Price Index slid 10.54 points, or 0.44 percent, to 2,378.50 in the first 15 minutes of trading. Several major economic developments from the United States are due this week, as the Fed is to hold a two-day rate-setting meeting starting Tuesday and is likely to deliver a 50-basis point hike. The Fed has raised the interest ra

Wemix forecasts coin destruction, GDAC exchange comes to the rescue

South Korean stocks ended higher Friday, snapping a five-day losing streak, as foreigners and institutions picked up oversold shares amid uncertainty over the US Federal Reserve's monetary policy direction. The Korean won sharply strengthened against the US dollar. The benchmark Korea Composite Stock Price Index rose 17.96 points, or 0.76 percent, to 2,389.04. The main index fell 2.6 percent this week through Thursday. Trading volume was moderate at 309.52 million shares worth 7.09 trillion

Seoul stocks opened higher Friday, tracking gains on Wall Street, as investors await key US inflation data this week for clues as to whether the Federal Reserve could scale down its aggressive monetary tightening. The benchmark Korea Composite Stock Price Index rose 4.72 points, or 0.20 percent, to 2,375.80 in the first 15 minutes of trading. Kospi rebounded after a five-day slide. Stronger-than-expected US jobs report and service sector activity released earlier this week weighed on consumer se

Seoul stocks opened lower Thursday, tracking overnight falls on Wall Street, amid concerns that the US Federal Reserve may continue its aggressive monetary tightening following solid economic data. The benchmark Korea Composite Stock Price Index fell 1.05 points, or 0.04 percent, to 2,381.76 in the first 15 minutes of trading. The unexpectedly strong US jobs report and service sector activity released early this week bolstered the case for the Fed to keep policy tightening to tame runaway inflat

A Seoul court on Wednesday denied an injunction request filed by the operator of cryptocurrency Wemix to block the enforcement of crypto exchanges' decision to delist the coin. In late November, the Digital Asset eXchange Association -- an alliance formed by Upbit, Bithumb, Coinone, Korbit and Gopax -- announced they will terminate transaction support to the cryptocurrency operated by online games company Wemade, from Dec. 8. They said Wemade had provided false information on the planned numb

Seoul shares extended their losing streak to a fourth day Wednesday amid concerns the Federal Reserve may keep its aggressive monetary tightening following solid U.S. economic data. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index retreated 10.35 points, or 0.43 percent, to 2,382.81. Trading volume was moderate at 323.9 million shares worth 5.9 trillion won ($4.5 billion), with decliners outnumbering gainers 540 to 311. Institutions and foreigners sold

South Korea's central bank will continue raising its key policy rate, possibly peaking at 3.5 percent in 2023, an economist at global credit appraiser S&P Global Rating said Wednesday. The Bank of Korea has hiked the rate by a combined 2.75 percentage points since August last year to tame inflation. The rate currently stands at 3.25 percent. "We expect the APAC central banks not to follow very closely the US Fed policy in terms of how quickly, how aggressively to increase interest

Seoul stocks opened lower on Wednesday, tracking overnight falls on Wall Street, amid concerns that the US Federal Reserve may continue its aggressive monetary tightening following strong economic data. The benchmark Korea Composite Stock Price Index fell 7.11 points, or 0.30 percent, to 2,386.05 in the first 15 minutes of trading. The stronger-than-expected US jobs report and service sector activity released early this week are spooking investors amid concerns that the Fed may not imminently sl

Seoul shares closed lower to extend their losing streak to a third day on Tuesday as investors remain concerned that the Federal Reserve may continue its aggressive monetary tightening following unexpectedly strong US services data. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index retreated 26.16 points, or 1.08 percent, to 2,393.16. Trading volume was moderate at 359.75 million shares worth 6.3 trillion won ($4.8 billion), with decliners outnumbering ga