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…
Latest Bank of Korea News & Updates
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…
Seoul, June 12 (IANS) Seoul stocks were trading sharply higher on Friday morning as US President Donald Trump fuelled hopes for an end to the Iran war.The benchmark Korea Composite Stock Price Index (KOSPI) was trading up 606.46 points, or 7.81 percent, to 8,370.41, as of 11:20 am, reports Yonhap news agency.After opening sharply higher, the index is remaining above the 8,000-point mark, as institutional and foreign investors snapped up blue chip tech stocks.On Thursday (U.S. time) President Tru…
Seoul, June 9 (IANS) The South Korean economy grew at the fastest pace in more than five years in the first quarter, supported by strong exports and solid domestic demand, central bank data showed on Tuesday.The real gross domestic product (GDP) rose 1.8 percent in the January-March period from the previous quarter, 0.1 percentage point higher than the earlier estimate, according to preliminary data from the Bank of Korea (BOK), reports Yonhap news agency.The reading marked the strongest quarter…
Seoul, June 8 (IANS) Loans extended to companies in South Korea grew at the fastest pace in 3 and a half years in the first quarter compared with the previous three-month period, driven by strong demand from the service sector, central bank data showed on Monday.Outstanding loans to local companies reached 2,061.8 trillion won (US$1.33 trillion) as of end-March, up 35.6 trillion won from the fourth quarter of 2025, according to data from the Bank of Korea (BOK).The increase marked the largest on…
Seoul, June 4 (IANS) South Korean stocks opened sharply lower on Thursday, tracking overnight losses on Wall Street caused by uncertainty over negotiations between the United States and Iran to end their war in the Middle East.After starting 2.02 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) lost 180.03 points, or 2.05 percent, to 8,621.46 as of 9:15 am, reports Yonhap news agency.The KOSPI closed at an all-time high of 8,801.49 on Tuesday. The local stock market was clo…
Seoul, May 28 (IANS) South Korea’s central bank kept its benchmark interest rate unchanged on Thursday amid lingering uncertainty in the Middle East, but it raised the possibility of future tightening as inflationary pressures and concerns over currency weakness intensified.In a widely-anticipated decision, the Monetary Policy Board of the Bank of Korea (BOK) held the key rate steady at 2.5 percent in its rate-setting meeting in Seoul. It is the first monetary policy meeting chaired by BOK Gov. …
Seoul, May 27 (IANS) South Korea’s overseas financial assets rose to a fresh record high in the first quarter, driven by increased direct investments in the United States, central bank data showed on Wednesday.The country’s external financial assets stood at US$2.88 trillion as of end-March, up $15 billion from three months earlier, according to preliminary data from the Bank of Korea (BOK), reports Yonhap news agency.It marks the largest amount ever, though the pace of its growth slowed from th…
Seoul, May 22 (IANS) Consumer sentiment rose at the fastest pace in about a year in May, driven by robust semiconductor exports and the stock market rally, the central bank said on Friday.The composite consumer sentiment index (CCSI) stood at 106.1 this month, up 6.9 points from April and surpassing the 100-point mark for the first time in two months, according to a survey by the Bank of Korea (BOK), reports Yonhap news agency.The reading had fallen for two straight months in March and April.The…
Seoul, May 19 (IANS) The Bank of Korea (BOK) has estimated that a general strike at Samsung Electronics Co. could cut 0.5 percentage point off South Korea’s economic growth this year, officials said on Tuesday.The central bank recently compiled a closed-door report on the matter and submitted it to the finance ministry, according to the officials, reports Yonhap news agency.The report estimated losses from the potential strike at around 30 trillion won (US$20 billion), noting it could take up to…