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Seoul shares start almost flat on Oct. 18

Oct 18, 2016

[THE INVESTOR] South Korean shares opened nearly flat on Oct. 18 amid losses on Wall Street. The benchmark KOSPI rose 0.27 point, or 0.01 percent, to 2,027.88 in the first 15 minutes of trading.In New York, the Dow Jones industrial average fell 51.98 points, or 0.3 percent, to 18,086.40.Traders were careful as dozens of major firms are scheduled to report their quarterly results later this week. Their sentiment was also hit by the US Federal Reserve Vice Chairman Stanley Fischer’s downbeat outlo
Seoul shares end higher on foreign buying

Oct 17, 2016

[THE INVESTOR] South Korean stocks rose slightly on Oct. 17, rebounding from earlier losses on increased foreign buying. The local currency fell against the US dollar.The benchmark KOSPI climbed 4.95 points, or 0.24 percent, to 2,027.61. Trade volume came to 330.45 million shares worth 3.67 trillion won (US$3.23 billion), with decliners outnumbering advancers 487 to 315.Foreigners net-purchased 291.1 billion won worth of stocks, while institutions and individuals sold a net 243.7 billion won and
Kodi-M inks exclusive supply contract with Daehan New Pharm

Oct 17, 2016

[DISCLOSURE] Kodi-M (224060) said on Oct. 17 that it has signed an exclusive agreement with S. Biomedics to supply skin care products to Daehan New Pharm (054670) for five years.Daehan New Pharm will guarantee the 8 billion won (US$7 million) purchase and pay 10 percent deposit upfront to Kodi-M, along with a premium of 300 million won.By Jung Min-kyung (mkj1105@heraldcorp.com)
Seoul shares slide in late morning trading

Oct 17, 2016

[THE INVESTOR] South Korean shares slid late morning on Oct. 17, as institutional traders sold off stocks amid market uncertainties. The benchmark KOSPI shed 2.34 points, or 0.12 percent, to 2,020.32 as of 11:20 a.m. Institutions were net sellers, while foreigners and individuals net-purchased shares.Starting the week, in particular, investors’ appetite for less risky assets appeared to be growing amid unrelenting uncertainties at home and abroad, market watchers said.Concerns persist about the
Seoul shares open slightly higher on Oct. 17

Oct 17, 2016

[THE INVESTOR] South Korean shares opened higher on Oct. 17, with investors giving mixed performance in large cap trading. The benchmark KOSPI rose 1.13 points, or 0.06 percent, to 2,023.79 in the first 15 minutes of trading.Market leader Samsung Electronics shed 1.08 percent, while the state-run Korea Electric Power Corp. gained 0.97 percent.Front-running automaker Hyundai Motor climbed 1.5 percent, and global chipmaker SK hynix also ticked up 0.12 percent.The local currency was trading at 1,13
Seoul shares close higher on Oct. 14

Oct 14, 2016

[THE INVESTOR] South Korean shares closed higher on Oct. 14, on foreign investors’ attempt to purchase local shares. The local currency grew stronger against the US greenback.The benchmark KOSPI gained 7.16 points, or 0.36 percent, to 2,022.60. Trading volume was moderate at 453 million shares worth 4.1 trillion won (US$3.62 billion).Foreign investors purchased a net 32.76 billion won, remaining net buyers for two consecutive sessions, while institutional investors offloaded a net 805 million wo
Seoul shares close lower on US rate hike worries

Oct 13, 2016

[THE INVESTOR] South Korean shares closed sharply lower on Oct. 13 as institutions tried to cash in early gains. The local currency also weakened against the US greenback as the Bank of Korea decided to keep its key rate steady for the month.The benchmark KOSPI lost 18.29 points, or 0.90 percent, to 2,015.44. Trading volume was moderate at 430 million shares worth 4.33 trillion won (US$3.81 billion) with losers greatly outnumbering gainers 635 to 184.The index had opened on an upbeat note, partl
Seoul shares fall in late morning trading despite Samsung rebounds

Oct 13, 2016

[THE INVESTOR] South Korean shares traded lower late morning on Oct. 13, as institutions eyed the market for selling. The benchmark KOSPI lost 14.32 points, or 0.70 percent, to 2,019.41 as of 11:20 a.m.Most large caps were in negative terrain.Samsung Electronics advanced 1.30 percent, but local industry leader Hyundai Motor plunged 1.47 percent, with top portal operator Naver tumbling 3.01 percent.Top life insurer Samsung Life retreated 0.95 percent, with leading chemicals producer LG Chemical s
Korea Polymer halts negotiations on Indonesia mine

Oct 13, 2016

[DISCLOSURE] Korea Polymer (009810) said on Oct. 13 that it has halted its negotiations with an Indonesian company to develop mines in Indonesia due to difference of opinions.The South Korean industrial packaging manufacturer signed a memorandum of understanding on Aug. 3 to acquire 40 percent stake in the Indonesian firm that holds a manufacturing license for mining in the country. By Jung Min-kyung (mkj1105@heraldcorp.com)
Seoul shares open higher as Samsung rebounds

Oct 13, 2016

[THE INVESTOR] South Korean shares opened slightly higher on Oct. 13, as Samsung struggled to recover from the aftermath of its decision to halt Galaxy Note 7 sales.The benchmark KOSPI added 0.15 point, or 0.01 percent, to 2,033.88 in the first 15 minutes of trading.The slight increase followed overnight gains on Wall Street.Dow Jones industrial average gained 0.09 percent to close at 18,144.20 on Oct. 12 (New York time).Samsung Electronics spiked 2.41 percent, somewhat recovering from an earlie
Seoul shares end higher on Oct. 12

Oct 12, 2016

[THE INVESTOR] South Korean shares closed slightly higher on Oct. 12 as institutions increased their buying spree. The local currency lost ground against the US dollar for a second straight session.The benchmark KOSPI added 1.80 points, or 0.09 percent, to 2,033.73. Trading volume was slim at 292.4 million 4.68 trillion won (US$4.16 billion), with gainers outnumbering losers 406 to 377.Institutions purchased a net 619.2 billion won while foreign investors offloaded a net 550.2 billion won, exten
Hanjin Heavy to deliver vessels worth W199b for S. Korea Navy

Oct 12, 2016

[THE INVESTOR] Hanjin Heavy Industries has signed a deal worth 199.1 billion won (US$177.40 million) with Defense Acquisition Program Administration to supply three new PKX-B patrol vessels, it said on Oct. 12. The project amounts to 6.39 percent of the firm’s revenue.The Korean shipbuilder was selected in 2014 as the main supplier of patrol vessels to replace the original Chamsuri-class patrol vessels, which have been in service with the navy since the 1970s. The ship launching ceremony for its
Seoul shares slide in late morning trading

Oct 12, 2016

[THE INVESTOR] South Korean shares fell slightly in late morning on Oct. 12, as Samsung Electronics discontinued its smartphone Galaxy Note 7. The benchmark KOSPI lost 0.9 point, or 0.04 percent, to 2,031.03 as of 11:20 a.m.The index opened on a weaker note, but nearly recovered earlier losses as institutional investors turned to buying.Institutions were net buyers, scooping up 384.2 billion won (US$342 million), while both foreigners and retail investors offloaded more local shares than they pu
Seoul shares start lower as Samsung discontinues Note 7

Oct 12, 2016

[THE INVESTOR] South Korean shares opened lower on Oct. 12, on Samsung Electronics’ decision to discontinue its Galaxy Note 7 smartphone.The benchmark KOSPI lost 2.73 points, or 0.13 percent, to 2,029.20 in the first 15 minutes of trading.The weak start also followed overnight losses on Wall Street.The Dow Jones industrial average plunged 1.09 percent to 18,128.66 on Oct. 11 (New York time).Samsung Electronics plunged 2.91 percent, marking a third consecutive session of drop after reaching a rec
Seoul shares end lower on Samsung woes

Oct 11, 2016

[THE INVESTOR] South Korean shares closed lower on Oct. 11, amid Samsung Electronics’ decision to halt global sales of the Galaxy Note 7 smartphone and renewed concerns over a US rate hike. The local currency also lost ground against the US dollar. The benchmark KOSPI retreated 24.89 points, or 1.21 percent, to 2,031.93. Trading volume was slim at 338.8 million shares worth 5.12 trillion won (US$4.57 billion) with losers outnumbering gainers 408 to 391.The index opened slightly lower as the tech