South Korea's stock market opened higher Wednesday amid uncertainty over the direction of the global economy and monetary policy at home and abroad. The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.27 points, or 0.71 percent, to trade at 2,452.61 as of 9:15 a.m. Investors are bracing for more monetary tightening policy at home, along with the possibility of hawkish remarks from the United States later this week. The Bank of Korea is widely expected to raise its interest rate

The South Korean won weakened to 1,345.5 won per US dollar on Tuesday, marking a fresh 13-year low, despite a warning that authorities would rein in speculative trading seen as behind the depreciation. The verbal warning, coming for a fourth time for the year, reflects growing volatility gripping the currency markets amid the persistent hawkish outlook on a US rate hike in September boosting the dollar’s safe-haven appeal. The key psychological threshold of 1,300 won is considered

South Korean stocks fell more than 1 percent Tuesday as investors shunned risky assets amid concerns over further aggressive rate hikes by the US Federal Reserve. The Korean won continued to weaken against the US dollar following a sharp drop in the previous session. The Korea Composite Stock Price Index (KOSPI) lost 27.16 points, or 1.10 percent, to close at 2,435.34, extending the losing streak to a fifth session. Trading volume was moderate at 460.02 million shares worth 7.34 trillion won ($5

South Korea's stock market opened lower Tuesday as foreigners and institutions unloaded shares following overnight losses amid concerns over the Federal Reserve's monetary tightening. The Korean won continued to lose ground against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 15.39 points, or 0.62 percent, to trade at 2,447.11 points as of 9:15 a.m. Investors are awaiting Fed Chair Jerome Powell's comments on inflation and rate increases at the annua

The South Korean won breached the key psychological threshold of 1,300 won per US dollar, weakening to 1,340.2 won before closing at 1,339.8 won in onshore trading Monday -- a new low in 13 years prompted by a hawkish outlook on a US Federal Reserve’s rate hike in September. The 1,300 mark -- last crossed in April 2009 in the wake of the global financial crisis before June 2022 when it was touched again -- is considered a red flag for the economy. The benchmark Kospi lost 1

Seoul shares opened lower Monday amid lingering concerns over the US Federal Reserve's aggressive monetary tightening. The Korean won opened sharply lower against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 33.72 points, or 1.35 percent, to trade at 2,458.97 points as of 9:15 a.m. Investors have been wary of the Fed's policy path, as the minutes of its July meeting released last week showed that the US central bank would continue to push for aggressive m

Companies on South Korea’s benchmark Kospi overall saw their combined operating profit in the first six months of this year rise 7 percent from a year earlier, thanks to Samsung Electronics, the biggest company on the main board by revenue. According to Korea Exchange data Friday, 696 firms on the Kospi reported 746 trillion won ($562.2 billion) in revenue between January and June, up 19 percent from the previous year. Operating profits came to 54 trillion won, a 7 percent jump. But the

Seoul shares opened lower Friday amid uncertainty over the US Federal Reserve's future rate hikes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.53 points, or 0.42 percent, to trade at 2,497.52 points as of 9:15 a.m. Stocks came off to a lackluster start in the face of overnight gains on Wall Street. The Fed's latest minutes hinted at a possible slowdown in inflation growth. In July, the Fed raised its benchmark interest rate by 75 basis points for a second straight t

Investors are being discouraged from using 16 cryptocurrency services companies operating in South Korea without registration from the Financial Services Commission, the top financial regulator said Thursday. The firms, all foreign, are KuCoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, Bitglobal, CoinW, CoinEX, AAX, ZoomEX, Poloniex, BTCEX, BTCC, DigiFinex and Pionex. The firms are expected to face police probes for having failed to report to the agency their plans to engage in business with Kor

Seoul shares closed lower Thursday as investors digested the Federal Reserve's minutes that hinted at more aggressive interest rate hikes to temper inflation. The Korean won sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.42 points, or 0.33 percent, to close at 2,508.05 points. Trading volume was moderate at about 370.84 million shares worth some 6.98 trillion won ($5.3 billion), with losers outnumbering gainers 542 to 301. Institutions sol

Seoul shares opened lower Thursday, tracking losses on Wall Street, as the US Federal Reserve may keep up its aggressive monetary tightening amid global recession woes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 24.69 points, or 0.98 percent, to trade at 2,491.78 points as of 9:15 a.m. In the Fed's latest minutes, released Wednesday (US time), policymakers expected the economy to expand in the second half of 2022 and made it clear that they intend to continue raising rates

A joint task force launched by the Financial Services Commission on Wednesday kicked off its first monthly meeting on setting up a framework for digital assets like bitcoin, a week after the top financial regulator said it would work to remove regulatory uncertainty facing South Korea’s crypto industry. Introducing a legal framework for cryptocurrencies is part of the larger deregulation initiative the FSC has been pursuing since President Yoon Suk-yeol, who had pledged to make that happe

Seoul shares snapped their three-day winning streak Wednesday as investors await the latest minutes of the Federal Reserve that will give them an idea of its future rate policy to combat high inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 17.05 points, or 0.67 percent, to close at 2,516.47 points. Trading volume was moderate at about 410 million shares worth some 7.04 trillion won ($5.4 billion), with losers outnumbering gainers

Seoul shares opened higher Wednesday as investors await the latest Federal Reserve's minutes that will give them an idea of its future rate policy to combat inflation. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.71 points, or 0.26 percent, to trade at 2,540.23 points as of 9:15 a.m. The main index got a boost amid market speculation that inflation pressure is peaking, making a global recession less likely, analysts said. The Fed minutes will be available Wednesday (US tim

The Financial Supervisory Service will look into financial institutions that handled an unusually large volume of short selling when the local markets were jumpy, the watchdog’s chief said Tuesday, as retail investors step up calls for greater oversight over the practice they say leaves them outgunned by institutional investors. Individual investors have long complained that the bearish market practice that profits from a drop in share prices is not as rewarding as it should be as regulat