Seoul, July 27 (IANS) South Korean stocks turned lower late on Monday morning as big chip shares lost ground despite eased Middle East tensions.After opening 1.73 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) shed 55.63 points, or 0.83 percent, to 6,634.99 as of 11:20 a.m.Foreign investors sold nearly 1.7 trillion won, offsetting a combined 1.6 trillion won worth of buying by retail and institutional investors, reports Yonhap news agency.The United States has suspended …
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Seoul, July 16 (IANS) Seoul shares again plummeted on Thursday, led by steep losses in technology heavyweights, as escalating tensions in the Middle East weighed on investor sentiment. The Korean won rose against the US dollar.After opening 4.45 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended its losses to close at 6,820.60, down 463.81 points, or 6.37 percent from the previous session, after falling as low as 6,730.87.The Korea Exchange, the country’s bourse oper…
Seoul, July 14 (IANS) Foreign investors remained net sellers of South Korean equities for the fifth consecutive month in June, central bank data showed on Tuesday, despite a tech-led rally in the local stock market.Offshore investors sold a net US$30.72 billion worth of local stocks and bonds last month, following net sales of $26.15 billion in May, according to data from the Bank of Korea (BOK).They have remained net sellers since February, reports Yonhap news agency.Breaking down the figures, …
Seoul, July 13 (IANS) South Korea’s exports jumped 53.9 per cent from a year earlier in the first 10 days of July, data showed on Monday, on the back of strong outbound shipments of semiconductor products.Outbound shipments reached US$29.8 billion in the July 1-10 period, compared with $19.3 billion tallied in the same period last year, according to the data from the Korea Customs Service, reports Yonhap news agency.It marked the highest figure for any 10-day period compiled by the customs agenc…
Seoul, July 8 (IANS) South Korea posted an all-time high current account surplus in May on robust exports of semiconductors, central bank data showed on Wednesday.The current account surplus totalled $38.61 billion in May, up from $28.29 billion the previous month, according to the data from the Bank of Korea (BOK).It marked the largest monthly current account surplus ever, renewing the previous record of $37.93 billion set in March, reports Yonhap news agency.Compared with the same month a year…
Seoul, July 7 (IANS) South Korea will revise items included in the consumer price index basket in a regular reshuffle, reflecting the latest trends by adding subscriptions and smartwatch-related costs, with details set to be announced in December, the statistics agency said on Tuesday.The Ministry of Data and Statistics said it will carry out the restructuring of items included in the consumer price survey, with the latest round of adjustments focusing on reflecting consumers’ spending patterns …
Seoul, July 5 (IANS) The South Korean won has fallen nearly 6 per cent against the US dollar this year, central bank data showed on Sunday, as foreign investors sold off more than 156 trillion won ($102.3 billion) worth of domestic stocks.The average exchange rate stood at 1,484.56 won per dollar during the first half of the year, according to the Bank of Korea’s Economic Statistics System.It marked the second-highest first-half average on record, behind 1,493.08 won in the first half of 1998 du…
Seoul, June 25 (IANS) South Korea’s business sentiment worsened for the first time in three months in June on sluggish construction and travel sectors, a central bank survey showed on Thursday.The Composite Business Sentiment Index (CBSI) for all industries stood at 97.7 in June, down 1.2 points from a 3 1/2-year high of 98.9 in May, according to data from the Bank of Korea (BOK).It marked the first on-month decline since March, reports Yonhap news agency.The index measures corporate outlooks on…
Seoul, June 19 (IANS) Seoul stocks traded sharply higher on Friday, buoyed by chips and other tech heavyweights, after topping the historic 9,000 landmark the previous session.The benchmark Korea Composite Stock Price Index (KOSPI) rose 200.67 points, or 2.21 percent, to 9,264.51, as of 11:20 a.m., after peaking above 9,300 at one point, reports Yonhap news agency.The index followed gains on Wall Street overnight, lead by major chipmakers, including Intel. The U.S. semiconductor company jumped a…
Seoul, June 12 (IANS) Banks are fast moving to rein in a surge in credit loans as customers have borrowed money to buy stocks, financial sources said on Friday.According to various sources, Hana, Shinhan and other major lenders have tightened criteria and limits on credit loans in the face of pressure from the country’s financial authorities, reports Yonhap news agency.The measure came as household loans extended by banks rose at the fastest pace in nearly two years in May as lending linked to s…