Seoul, May 11 (IANS) South Korean stocks were trading at a fresh record high of above 7,800 points on late Monday morning, boosted by an extended rally of blue chip semiconductor shares, despite woes over the U.S.-Iran peace deal falling apart.The benchmark Korea Composite Stock Price Index (KOSPI) had surged 324.22 points, or 4.32 percent, to 7,822.22 as of 11:20 a.m. after rising as high as 7876.60, reports Yonhap news agency.The index has been on a record-breaking run for the fifth consecutiv…
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Seoul, May 4 (IANS) Sales of Hyundai Motor and Kia vehicles in the United States fell slightly from a year earlier, while numbers for hybrid vehicles rose to a new monthly high, the automaker said on Monday.The South Korean automakers sold a combined 159,216 vehicles in the key American market in April, down 2.1 percent on-year, according to the companies.Hyundai Motor sold 86,513 units, down 1.5 percent from the previous year, reports Yonhap news agency.Its luxury vehicle brand Genesis sold 6,3…
Seoul, April 23 (IANS) South Korean stocks rose on Thursday, led by gains in large-cap technology shares, as investors focused on corporate earnings following the United States’ indefinite extension of its ceasefire in the conflict with Iran.The benchmark Korea Composite Stock Price Index (KOSPI) gained 48.04 points, or 0.75 per cent, to 6,465.97 as of 11:20 am (local time), reports Yonhap news agency.The index opened 1.1 percent higher, tracking overnight gains on Wall Street, and briefly surpa…
Seoul, April 22 (IANS) The antitrust regulator here said on Wednesday it has decided to fine two local suppliers to Hyundai Motor and Kia, a combined 2.59 billion won ($1.75 million) for colluding to rig bids.SM Hwajin and Cubic Korea prearranged winners and bid prices in five tenders conducted between September 2020 and April 2023 to select contractors for surface treatment of vehicle interior materials, according to the Fair Trade Commission (FTC).The two companies were the only registered bid…
Seoul, April 22 (IANS) Hyundai Motor, Kia and two other carmakers will voluntarily recall over half a million vehicles in South Korea to address defective components, the transport ministry here said on Wednesday.The four companies, which also include KG Mobility Corp. and Toyota Motor Korea, will recall a combined 532,144 units across 17 models, according to the ministry.Hyundai Motor will recall 239,683 units of four models, including the Santa Fe sport utility vehicle (SUV), over a seat belt …
Seoul, April 14 (IANS) South Korean stocks traded sharply higher on Tuesday on revived hopes for US-Iran peace talks, briefly topping the 6,000-point mark for the first time since the outbreak of the U.S.-Iran conflict.The benchmark Korea Composite Stock Price Index (KOSPI) added 189.03 points, or 3.25 percent, to 5,997.65 as of 11:20 a.m (local time).The index rose to 6,000.18 around 10:12 a.m. and hovered near the 6,000 level, reports Yonhap news agency.It marked the first intraday move above …
Seoul, April 9 (IANS) South Korean stocks lost ground late on Thursday morning as Washington and Tehran remained divided over the terms of a two-week ceasefire, including whether it includes ending Israel’s offensive against Lebanon.The benchmark Korea Composite Stock Price Index (KOSPI) fell 57.93 points, or 0.99 percent, to 5,814 as of 11:20 am (local time), reports Yonhap news agency.The United States and Iran reached a two-week ceasefire agreement on Tuesday (U.S. time), including the reopen…
Seoul, April 6 (IANS) South Korean stocks continued to trade higher late on Monday morning as investors anticipated a strong performance by Samsung Electronics in its first-quarter earnings guidance this week, boosting optimism in the artificial intelligence (AI) industry.The benchmark Korea Composite Stock Price Index (KOSPI) rose 116 points, or 2.16 per cent, to 5,493.3 as of 11:20 am (local time), reports Yonhap news agency.On Tuesday, Samsung Electronics is set to release its preliminary fir…
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 29 (IANS) The market capitalisation of defence stocks rose while that of auto and shipbuilding shares fell on the benchmark Korea Composite Stock Price Index (KOSPI) about a month after U.S.-Israeli air strikes on Iran, bourse data showed on Sunday.According to data by the Korea Exchange (KRX), Samsung Electronics Co. retained the top spot in market capitalization, with 1,063.8 trillion won (US$705 billion) as of Friday, followed by SK hynix Inc. with 657.1 trillion won, reports Yon…