Seoul, April 3 (IANS) South Korean stocks rose nearly 2.5 per cent late on Friday morning as Iran is said to be working on a protocol with Oman to monitor traffic through the Strait of Hormuz, raising hopes for the reopening of the crucial shipping waterway.The benchmark Korea Composite Stock Price Index (KOSPI) rose 128.99 points, or 2.46 percent, to 5,363.0, reports Yonhap news agency.The index opened 2.7 percent higher, rebounding from a sharp decline the previous session, and maintained its …
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Seoul, April 2 (IANS) South Korean stocks dropped over 3 per cent on Thursday morning after US President Donald Trump warned that the United States would strike Iran “extremely hard” over the next few weeks.The benchmark Korea Composite Stock Price Index (KOSPI) fell 197.1 points, or 3.6 percent, to 5,281.6 as of 11:20 a.m.The index opened more than 1 percent higher, tracking overnight gains on Wall Street, but turned negative after Trump’s remarks dashed hopes for a swift end to the monthlong c…
Seoul, March 31 (IANS) South Korean stocks traded lower late on Tuesday morning, led by heavy foreign sell-offs, as an escalating conflict in the Middle East heightened concerns about global oil supplies and broader economic impacts.The benchmark Korea Composite Stock Price Index (KOSPI) fell 89.14 points, or 1.69 percent, to 5,188.16 as of 11:20 a.m.The index opened about 3 percent lower and had been under downward pressure, though some of the earlier losses were erased, reports Yonhap news age…
Seoul, March 30 (IANS) South Korean stocks traded markedly lower on Monday, led by a decline in large-cap tech shares, as an intensifying conflict surrounding Iran deepened concerns about global oil supplies and market uncertainties.The benchmark Korea Composite Stock Price Index (KOSPI) fell 216.2 points, or 3.98 per cent, to 5,222.67 as of 11:20 a.m (Seoul time), reports Yonhap news agency.The index opened nearly 5 percent lower and had been under downward pressure due to heavy foreign selling…
Seoul, March 20 (IANS) South Korean shares trimmed earlier gains on Friday morning as big-cap tech shares turned lower on foreign sell-offs.The benchmark Korea Composite Stock Price Index (KOSPI) had added 26.43 points, or 0.46 percent, to 5,789.65 as of 11:20 a.m, reports Yonhap news agency.The KOSPI reduced earlier gains as foreigners dumped a net 1.26 trillion won (US$842 million). Retail investors and institutions purchased local shares worth 746.4 billion won and 524.8 billion won, respecti…
Seoul, March 19 (IANS) South Korean shares traded nearly 2 per cent lower on Thursday on heightened market volatility sparked by escalating tensions in the Middle East and uncertainties surrounding the United States’ monetary policy direction, despite its rate freeze decision.The benchmark Korea Composite Stock Price Index (KOSPI) dropped 112.91 points, or 1.19 percent, to 5,812.12 as of 11:20 a.m.Overnight, the Dow Jones Industrial Average dipped 1.63 percent, while the tech-heavy Nasdaq Compos…
Seoul, March 18 (IANS) South Korea’s auto exports fell 20.8 per cent from a year earlier in February due to a decline in the number of working days for the month, government data showed on Wednesday.The combined value of automobile exports came to US$4.8 billion last month, according to the data from the Ministry of Trade, Industry and Resources, reports Yonhap news agency.February’s performance was due to a drop in the number of working days for the month amid the Lunar New Year holiday, the mi…
Seoul, Jan 25 (IANS) Foreign ownership of South Korean stocks as a share of total market capitalisation reached its highest level in five years and nine months in January, driven by net purchases in the shipbuilding, defence and nuclear power industries, the main bourse operator said on Sunday.Foreigners’ stock holdings rose to 37.18 per cent of total market capitalisation on January 7, the highest level since April 9, 2020, when the rate was at 37.34 percent, according to data from the Korea Ex…
Seoul, Jan 16 (IANS) South Korean stocks ended at a fresh record high above 4,800 points on Friday, extending their rally to an 11th consecutive session amid continued buying momentum in semiconductor shares. The local currency fell against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 43.19 points, or 0.9 per cent, to finish at a record 4,840.74, reports Yonhap news agency.Before closing, the index touched an intraday record of 4,863.82 at 3:22 p.m.It marked the 11t…