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Seoul shares open higher on Sept. 29

Sept 29, 2016

[THE INVESTOR] South Korean shares opened higher on Sept. 29 amid OPEC member countries’ decision to cut oil output. The benchmark KOSPI rose 15.37 points, or 0.75 percent, to 2,068.43 in the first 15 minutes of trading.Most large caps traded higher with market kingpin Samsung Electronics rising 1.08 percent.OPEC headquarters located in Vienna, Austria. OPECTop automaker Hyundai Motor gained 0.72 percent, and top steelmaker POSCO inched up 0.65 percent.The local currency was trading at 1,092.35
Seoul shares end lower on slumping oil prices

Sept 28, 2016

[THE INVESTOR] South Korean stocks declined slightly on Sept. 28 on tumbling oil prices. The Korean won slid down against the US greenback. The benchmark KOSPI declined 9.76 points, or 0.47 percent, to close at 2,053.06. Trade volume was moderate at 539 million shares worth 3.94 trillion won (US$3.59 billion), with losers outnumbering gainers 457 to 327. After starting lower, the KOSPI swung between gains and losses. Samsung Electronics fell 0.13 percent to end at 1,567,000 won, and SK hynix, a
Seoul shares slide in late morning trading

Sept 28, 2016

[THE INVESTOR] South Korean shares traded lower late morning on Sept. 28, amid bleak outlooks on a deal on output reductions among OPEC nations. The benchmark KOSPI shed 8.57 points, or 0.42 percent, to 2,054.25 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 0.45 percent and global chipmaker SK hynix up 1.09 percent.Top automaker Hyundai Motor declined 1.77 percent, and its smaller affiliate Kia Motors traded 2.26 percent lower.POSCO, the No. 1 steelmake
Most SMEs close shop within 5 years: report

Sept 28, 2016

[THE INVESTOR] Less than one-third of small and medium enterprises are likely to survive past five years, a report showed Sept. 28. According to the Small and Medium Business Administration which submitted the report to the parliamentary trade committee, only 29 percent of small-scale enterprises that opened in 2008 were still in business in 2013. Sixty percent of them stayed open for a year, but the rate fell to 47.3 percent for the second year, to 38.2 percent for the third year and to 32.2 pe
Seoul shares open lower on Sept. 28

Sept 28, 2016

[THE INVESTOR] South Korean shares opened lower on Sept. 28, amid a drop in global oil prices that dragged down investor sentiment. The benchmark KOSPI fell 1.59 points, or 0.08 percent, to 2,061.23 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 0.51 percent. Top automaker Hyundai Motor declined 0.35 percent, while Naver, the operator of the country’s top internet portal, rose 0.57 percent. The local currency was trading at 1,097.3
Brokerages heavily influenced by KOSPI volatility: FSS

Sept 27, 2016

[THE INVESTOR] Volatility in share prices have a high influence over the financial condition of South Korean securities firms, the government’s data showed Sept. 27.In an April stress test of 45 local brokerages, the Financial Supervisory Service analyzed changes in net capital ratio, a proportion of net operating capital to gross risks.It was based on major indices in late November last year, when the KOSPI stood at 1,997.97 and the yield on three-year Treasury was 1.785 percent. The local curr
Seoul shares end higher on US presidential debate

Sept 27, 2016

[THE INVESTOR] South Korean stocks ended higher on Sept. 27, as investors displayed relief with the result of the first US presidential debate.The Korean won jumped against the US dollar.The benchmark KOSPI rose 15.71 points, or 0.77 percent, to close at 2,062.82. Trade volume was moderate at 656 million shares worth 4.6 trillion won (US$4.14 billion), with gainers outnumbering losers 480 to 321.The local stock market opened lower on profit-taking, but pared earlier losses, as investors cautious
Seoul shares rebound in late morning trading

Sept 27, 2016

[THE INVESTOR] South Korean shares rebounded late morning on Sept. 27, amid institutional buying, with investors eyeing the first US presidential debate between Hillary Clinton and Donald Trump. The benchmark KOSPI rose 4.17 points, or 0.2 percent, to 2,051.28 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 0.13 percent, and global chipmaker SK hynix up 0.63 percent.Top automaker Hyundai Motor fell 0.36 percent, while its smaller affiliate Kia Motors trade
Samsung Electronics’ Q4 earnings likely to recover

Sept 27, 2016

[THE INVESTOR] Despite the recent global recall of the Galaxy Note 7 smartphones, Samsung Electronics' earnings are likely to recover in the fourth quarter, industry analysts said on Sept. 27. A survey by financial information provider FnGuide showed that Samsung is expected to post an operating profit of 7.67 trillion won (US$6.89 billion) for the third quarter of this year, a fall of 5.3 percent from a pre-recall forecast. Before Samsung announced the global recall of the Note 7s earlier this
Seoul shares open lower on Sept. 27

Sept 27, 2016

[THE INVESTOR] South Korean shares opened lower on Sept. 27, ahead of upcoming US presidential debate between Hillary Clinton and Donald Trump. The benchmark KOSPI slipped 13.76 points, or 0.67 percent, to 2,033.35 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 0.96 percent.Top automaker Hyundai Motor declined 1.07 percent, while top steelmaker POSCO rose 0.22 percent.Naver, the operator of the country’s top internet portal, shed 0
Seoul shares drop on sliding oil prices

Sept 26, 2016

[THE INVESTOR] South Korean stocks ended lower on Sept. 26 as a drop in oil prices weighed on the market. The Korean won fell against the US dollar. The benchmark KOSPI fell 6.96 points, or 0.34 percent, to close at 2,047.11. Trade volume was moderate at 355 million shares worth 3.6 trillion won (US$3.20 billion), with losers outnumbering gainers 483 to 329.Investors also resisted making big moves after losses on Wall Street, and ahead of the first US presidential debate, where Democrat Hillary
Boryung Pharma to release hypertension medication in S. America

Sept 26, 2016

[THE INVESTOR] South Korea’s Boryung Pharmaceutical has signed a contract with Mexican firm Stendhal International to supply medicine for treating hypertension in South America, the firm said on Sept. 26. The agreement is worth 30 billion won (US$27.1 million) -- which is 7.48 percent of the firm’s revenue in 2015. Boryung plans to gradually release more products in South America by 2024 via its partnership with Stendhal. The Korean firm has been seeking to expand into more markets for its oral
Seoul shares slump in late morning trading

Sept 26, 2016

[THE INVESTOR] South Korean shares traded lower late morning on Sept. 26, amid a drop in global oil prices. The benchmark KOSPI shed 5.97 points, or 0.29 percent, to 2,048.10 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics adding 0.13 percent, and global chipmaker SK hynix down 0.76 percent.Top automaker Hyundai Motor fell 1.41 percent, and its smaller affiliate Kia Motors traded 2.46 percent lower.POSCO, the No.1 steelmaker, declined 0.88 percent.Naver, the oper
Seoul shares open lower on Sept. 26

Sept 26, 2016

[THE INVESTOR] South Korean shares opened lower on Sept. 26, on investors’ decision to cash in part of recent gains.The benchmark KOSPI fell 3.21 points, or 0.16 percent, to 2,050.86 in the first 15 minutes of trading.Most large caps traded lower with market kingpin Samsung Electronics falling 0.19 percent.Top automaker Hyundai Motor declined 0.7 percent and top steelmaker POSCO slipped 1.1 percent.The local currency was trading at 1,103.60 won against the US dollar, down 1.2 won from the previo
Seoul shares edge up in morning trading

Sept 23, 2016

[THE INVESTOR] South Korean stocks traded slightly higher late morning on Sept. 23, extending gains through six consecutive sessions, as the US Federal Reserve has decided to freeze its key rate. The benchmark KOSPI gained 3.57 points, or 0.17 percent, to 2,053.27 as of 11:20 a.m.The Fed on Sept. 21 maintained its target range for the federal funds rate unchanged at 0.25 percent to 0.5 percent.Large-cap stocks traded mixed across the board.Market bellwether Samsung Electronics lost 1.67 percent