Seoul, July 13 (IANS) Seoul shares plunged 9 per cent on Monday as investors dumped technology stocks for profit-taking amid renewed tensions in the Middle East. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 669.01 points, or 8.95 percent, to close at 6,806.93 after falling as low as 6,783.43, reports Yonhap news agency.Trade volume was moderate at 469.86 million shares worth 39.8 trillion won (US$26.5 billion), with decliners far outnumbe…
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Seoul, July 13 (IANS) Seoul shares extended losses late on Monday morning, led by falls in chipmakers, bucking gains on Wall Street, as renewed tensions in the Middle East weighed on investor sentiment.After opening 0.85 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, falling 392.53 points, or 5.25 percent, to 7,083.41 as of 11:20 am, reports Yonhap news agency.The decline came as the United States and Iran exchanged fresh strikes over the status of the St…
Seoul, July 9 (IANS) Seoul shares trimmed earlier gains late Thursday morning on retail selling, though institutions and foreigners bought bargain-priced chip stocks following the recent massive sell-off.After opening 3.3 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) erased its earlier gains and moved up 150.61 points, or 2.08 percent from the day before, to 7,397.40 as of 11:20 am, reports Yonhap news agency.Despite the gains, investors remain concerned about renewed g…
Seoul, July 7 (IANS) South Korea’s bourse operator on Tuesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) after the index tumbled sharply.Program trading for the KOSPI was suspended for five minutes at around 10:23 am, according to the Korea Exchange (KRX), reports Yonhap News Agency.The KOSPI came under heavy selling pressure as investors locked in profits after Samsung Electronics Co. released its preliminary second-quarter earnings estimate.Local …
Seoul, July 2 (IANS) Hyundai Motor, BYD Korea, Mercedes-Benz Korea and three other automakers will voluntarily recall more than 146,000 vehicles in South Korea to fix defective components, the transport ministry said on Thursday.The six companies, which also include Volvo Car Korea, Jaguar Land Rover Korea and Stellantis Korea, will recall a combined 146,505 vehicles across 38 models, according to the Ministry of Land, Infrastructure and Transport.Hyundai Motor will recall 54,792 units across tw…
Seoul, July 1 (IANS) Hyundai Motor said on Wednesday its global sales declined from a year earlier in June, weighed down by weaker demand both at home and overseas.South Korea’s largest automaker sold 338,313 vehicles worldwide in June, down 5.9 percent from the same month last year, reports Yonhap news agency.Overseas sales fell 5.8 percent on-year to 280,081 units, while domestic sales declined 6.2 percent to 58,232 units.In the first half of the year, Hyundai Motor sold 1.96 million vehicles …
Seoul, June 24 (IANS) South Korean stocks extended their gains on Wednesday morning as individual investors went bargain hunting following the previous session’s massive sell-off in technology stocks.After opening 1.86 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) added 272.43 points, or 3.32 percent, to 8,476.27 as of 11:20 am, reports Yonhap news agency.Overnight, Wall Street closed lower as sharp declines in memory chip and semiconductor stocks weighed on investor se…
Seoul, June 23 (IANS) South Korean stocks tumbled nearly 10 per cent on Tuesday as foreign investors dumped major semiconductor shares and other market heavyweights amid profit-taking, tracking overnight losses in US technology stocks. The local currency weakened against the US dollar.After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) plunged 910.71 points, or 9.99 percent, to close at 8,203.84. The index hit an intra-day high of 9,175.45, reports Yonhap news agency.Th…
Seoul, June 23 (IANS) South Korean stocks extended losses late on Tuesday morning as big chip shares sharply lost ground, tracking an overnight slump in US techs.After opening 0.34 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) shed 389.16 points, or 4.27 percent, to 8,725.39 as of 11:20 am, reports Yonhap news agency.Overnight, U.S. Vice President JD Vance said a “very good foundation” had been established for negotiations toward a final agreement with Iran, while mediat…
Seoul, June 22 (IANS) South Korean stocks finished at an all-time high on Monday on a continued rally in semiconductor shares amid signs of progress in US-Iran talks to end their monthslong war in the Middle East. The local currency lost against the US dollar.After opening 1.08 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) added 62.13 points, or 0.69 percent, to 9,114.55 after rising as high as 9,253.00, reports Yonhap news agency.Trade volume was moderate at 377.2 milli…