Seoul, May 10 (IANS) Individuals’ overdraft credit loans at major commercial banks have climbed to their highest level in more than three years as investors seek funds for stock investments amid a bullish market, data showed on Sunday.The balance of personal overdraft loans, so-called “minus accounts,” at South Korea’s five major banks — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — stood at 40.5 trillion won (US$27.64 billion) as of Thursday.Based on month-end figures, it marks the large…
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Seoul, May 3 (IANS) The number of South Korean-listed companies whose market capitalisation surpassed 1 trillion won ($679.7 million) exceeded 400 for the first time this year, following a dramatic pre-Middle East-conflict recovery in the stock market, data showed on Sunday.The number of companies listed on the local bourse, including preferred shares, with a market capitalisation of over 1 trillion won stood at 405 as of Wednesday, according to the data from the Korea Exchange, South Korea’s ma…
Seoul, April 27 (IANS) The total market capitalisation of companies listed on the local stock market surpassed 6,000 trillion won ($4.08 trillion) for the first time on Monday, boosted by anticipation for the semiconductor sector, industry data showed.The combined market capitalisation of companies listed on the country’s three stock bourses stood at 6,047.9 trillion won as of early Monday morning, according to the data from the Korea Exchange (KRX), South Korea’s main bourse operator, reports Y…
Seoul, April 24 (IANS) Prosecutors here said on Friday they have rejected a police request for an arrest warrant for Bang Si-hyuk, chairman and founder of K-pop powerhouse Hybe, who is accused of unfair stock trading, citing insufficient evidence.The Seoul Southern District Prosecutors’ Office sent back to the police the arrest warrant request filed against Bang earlier this week on charges of fraudulent unfair trading under the Capital Markets Act, reports Yonhap news agency.The chief was suspe…
Seoul, April 21 (IANS) Around two months after an extreme rout caused by the Middle East crisis, South Korea’s stock market showed a dramatic return on Tuesday by setting a new record high amid hopes for the US-Iran peace talks and the revival of a tech rally.The benchmark KOSPI closed 2.72 percent higher at 6,388.47 points. The previous high was recorded on Feb. 26, when the benchmark index closed at 6,307.27, reports Yonhap news agency.Market capitalisation of the KOSPI-listed firms also swell…
Seoul, April 13 (IANS) The central bank on Monday called for the introduction of mechanisms similar to the bourse operator’s circuit breakers for cryptocurrency exchanges, citing the absence of such systems as a key factor behind a recent erroneous payment incident.In February, Bithumb attempted to distribute bitcoin worth about 620,000 won (US$460) as prizes for a customer event, but accidentally ended up distributing 620,000 bitcoins worth about 60 trillion won due to an employee input error, …
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…
Seoul, March 10 (IANS) South Korean stocks started sharply higher on Tuesday, a day after a sharp decline, as US President Donald Trump hinted the US-Iran war “is very complete.”The benchmark Korea Composite Stock Price Index (KOSPI) rose 271.34 points, or 5.17 perc ent, to 5,523.21 at the opening bell.Overnight, the Dow Jones Industrial Average gained 0.5 per cent, the tech-heavy Nasdaq Composite advanced 1.38 per cent, and the S&P 500 increased 0.83 per cent. The KOPSI fell 5.96 per cent o…
Seoul, March 5 (IANS) South Korean stocks traded sharply higher late on Thursday morning on bargain hunting following the steepest decline in history the previous session.After opening 3.09 per cent higher, the benchmark Korea Composite Stock Price Index (KOSPI) had extended its gains, shooting up 10.25 per cent, or 521.9 points, to 5,615.44 as of 11:20 am, reports Yonhap news agency.The Korea Exchange (KRX), the country’s main bourse operator, activated a five-minute buy-side sidecar at 9:06 a….
New Delhi, March 4 (IANS) Seoul shares plunged more than 12 per cent on Wednesday, closing below the 5,100-point mark, as mounting concerns over the economic fallout from the escalating Middle East conflict rattled investor sentiment. The Korean won also fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 698.37 points, or 12.06 per cent, to close at 5,093.54, extending losses from a 7.24 per cent drop in the previous session, reports Yonhap news ag…