South Korean stocks opened lower Wednesday, tracking overnight losses on Wall Street, amid lingering concerns over the impact of aggressive monetary tightening in major economies on growth momentum. The benchmark Korea Composite Stock Price Index (KOSPI) shed 11.98 points, or 0.54 percent, to 2,211.88 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average shed 0.43 percent, while the tech-heavy Nasdaq Composite inched up 0.25 percent. The market has been in disarray, wit

South Korea’s benchmark Kospi tumbled to a fresh intraday low Tuesday in 26 months, led by a sell-off by foreign investors pricing in a sharp US downturn prompted by tighter policy to corral inflation. The index pared the losses later the day, adding 2.92 points or 0.13 percent to 2,223.86. In the afternoon, the main board slid to an intraday low of 2,197.90, the lowest level since July 24, 2020, when it reached 2,195.49. Institutional investors purchased net 245 billion won ($171 million)

Seoul stocks snapped their four-day losing streak Tuesday amid still persistent woes over aggressive monetary tightening moves in major economies that could lead to a recession. The Korean won sharply rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index rose 2.92 points, or 0.13 percent, to close at 2,223.86. Trading volume was moderate at about 478 million shares worth some 7.8 trillion won ($5.5 billion), with losers outnumbering gainers 481 to 381.

Seoul stocks came off to a choppy start Tuesday after an over two-year trough the previous day amid rising woes over a global recession in the wake of aggressive monetary tightening moves in major economies. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.59 points, or 0.25 percent, to 2,226.53 in the first 15 minutes of trading. The KOSPI dipped 3.02 percent and the secondary KOSDAQ sank 5.07 percent on Monday as investors were increasingly concerned about a global recession caus

Korea not facing the same credit issue as it did during 1997, 2008 financial crises, experts say

Seoul stocks dropped to the lowest level in over two years and the Korean won also continued to tumble Monday amid growing fears of a global economic recession caused by combative monetary tightening in major economies. The benchmark Korea Composite Stock Price Index (KOSPI) fell by 69.06 points, or 3.02 percent, to end at 2,220.94, the lowest since July 27, 2020. The market slid for a fourth consecutive session. Trading volume was moderate at 611.4 million shares worth 9.18 trillion won (US$6.4

Seoul stocks opened markedly lower Monday on growing concerns about a global economic recession caused by combative monetary tightening policies in major economies. The benchmark Kopsi dropped 40.27 points, or 1.76 percent, to 2,249.73 in the first 15 minutes of trading. On Friday, US stocks ended lower, with investors fleeing for safety and cashing out of the stock market on fears that aggressive rate hikes could seriously hurt the global economy. The S&P500 fell 1.7 percent, the Dow Jones Indu

Citigroup’s Korean unit Citibank Korea explained the bank's foreign exchange solutions and its outlook on the e-commerce market during an e-commerce industry seminar Thursday. During the seminar, model cases of FX solutions and digital payments that used Citibank's global network, were introduced. Aman Singh Chadha, the bank's regional head of e-Commerce financial products and head of eFX Solutions for the APAC region, further illustrated the trends of the e-commerce market during the semi

Seoul stocks opened lower Friday on mounting fears that a global recession may further deepen amid aggressive monetary tightening drives around the globe. The benchmark Korea Composite Stock Price Index dropped 10.39 points, or 0.45 percent, to 2,321.92 in the first 15 minutes of trading. Overnight, US stocks fell again amid fears that recent rate hikes from central banks around the world could tip the economy into a recession. Central banks in major economies, such as Britain, raised rates as t

South Korean stocks closed down on Thursday, as investors were spooked by growing worries over a global economic recession following the US Federal Reserve's sharp rate hike decision. The Korean won fell to a 13-year low against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 14.9 points, or 0.63 percent, and closed at 2,332.31. Trading volume was light at 436.1 million shares worth 7.3 trillion won, with decliners outnumbering gainers 579 to 299. After starting

SEJONG -- The Korean currency dropped to the 1,400 won range per dollar on Thursday in the wake of another “giant step” rate hike of 75 basis points from the US Federal Reserve. In addition, foreign and institutional investors turned to net sellers on the nation’s main bourse, pulling down the Kospi. The local currency, which started at 1,398 won per US dollar during the Thursday trading session, closed at 1,409.7 won. The Korean currency became cheaper by more than

A Seoul court on Thursday ordered Namyang Dairy Products shareholders to sell off its controlling shares to local buyout firm Hahn ＆ Co., brushing off the troubled dairy company’s claims that its stock transfer deal with the private equity fund had been “rigged.” The Seoul Central District Court sided with Hahn ＆ Co. after the buyout firm last year filed a lawsuit against Namyang shareholders, including its Chairman Hong Won-sik for failing to abide by a binding contract to se

South Korean stocks opened more than 1 percent lower on Thursday as worries over a global recession mounted after the US Federal Reserve delivered another sharp rate hike to tame runaway inflation. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 26.75 points, or 1.14 percent, to 2,320.46 as of 9:15 a.m. Overnight, the Fed raised its benchmark federal funds rate by 0.75 percentage point for a third consecutive time, and its chair Jerome Powell voiced strong resolution to continue

South Korean stocks slipped back into negative territory again Wednesday, as investors took to the sidelines ahead of a widely expected sharp rate hike by the Federal Reserve. The Korean won fell against the dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 20.64 points, or 0.87 percent, to close at 2,347.21. Trading volume was light at 367.1 million shares worth 6.2 trillion won ($4.4 billion), with losers outpacing gainers 580 to 279. "Today's losses came as invest

South Korean stocks opened lower Wednesday, tracking an overnight loss on Wall Street, as investors bet that the Federal Reserve will deliver another sharp rate hike this week. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 8.04 points, or 0.34 percent, to 2,359.81 in the first 15 minutes of trading. Overnight, US stocks slumped as investors fret that the Federal Open Market Committee (FOMC) would opt to push the US benchmark rate by 75 basis points, which could further acce