Seoul, July 28 (IANS) South Korean stocks plummeted more than 8 per cent on Tuesday as investors dumped tech shares amid heightened fears over artificial intelligence (AI) investment.After opening 5.26 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, falling 580.04 points, or 8.59 percent, to 6,175.71 as of 11:20 am (local time).The Korea Exchange (KRX) triggered the market-wide circuit breaker at 10:14 a.m. after the KOSPI plunged more than 8 percent from …
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New Delhi, July 27 (IANS) US-based multinational technology company Nvidia is in talks to provide around $250 billion in financing guarantees to OpenAI as part of a massive artificial intelligence (AI) data centre project in the US, according to a report.As per report published in The Wall Street Journal, the proposed backing would help the ChatGPT maker lease a 10-gigawatt data centre campus being developed by SoftBank’s energy subsidiary in southern Ohio.It further showed that the project is e…
Seoul, July 27 (IANS) South Korean stocks turned lower late on Monday morning as big chip shares lost ground despite eased Middle East tensions.After opening 1.73 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) shed 55.63 points, or 0.83 percent, to 6,634.99 as of 11:20 a.m.Foreign investors sold nearly 1.7 trillion won, offsetting a combined 1.6 trillion won worth of buying by retail and institutional investors, reports Yonhap news agency.The United States has suspended …
Seoul, July 24 (IANS) Seoul stocks snapped their three-day winning streak to plummet nearly 6 per cent on Friday, as escalating tensions in the Middle East sapped risk appetite. The local currency rose against the greenback.The benchmark Korea Composite Stock Price Index (KOSPI) fell 406.27 points, or 5.72 percent, to 6,690.62 after falling as low as 6,650.41.The sharp decline triggered the country’s bourse operator to suspend program trading for five minutes in early trading, reports Yonhap new…
New Delhi, July 22 (IANS) Samsung Electronics on Wednesday unveiled its next-generation Galaxy Z foldable smartphone lineup, introducing the Galaxy Z Fold8, Galaxy Z Fold8 Ultra and Galaxy Z Flip8 with enhanced Galaxy AI capabilities, slimmer designs and new form factors aimed at bringing foldable devices to a wider audience.The South Korean technology giant said the new Galaxy Z series is its most comprehensive foldable lineup to date, offering three distinct devices designed to cater to differ…
Seoul, July 16 (IANS) Seoul shares again plummeted on Thursday, led by steep losses in technology heavyweights, as escalating tensions in the Middle East weighed on investor sentiment. The Korean won rose against the US dollar.After opening 4.45 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended its losses to close at 6,820.60, down 463.81 points, or 6.37 percent from the previous session, after falling as low as 6,730.87.The Korea Exchange, the country’s bourse oper…
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…
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 12 (IANS) Samsung Electronics is moving to begin operations at the first semiconductor fabrication plant in its Yongin chip cluster in 2029, one to two years earlier than planned, industry sources said on Sunday.The accelerated timeline comes as the government speeds up development of the Yongin National Industrial Complex, a national strategic project set to serve as the company’s next-generation semiconductor manufacturing hub, reports Yonhap news agency.Samsung is currently planni…
Sejong, July 10 (IANS) South Korea’s finance ministry said Friday it has decided to impose anti-dumping tariffs on polyvinyl chloride (PVC) paste resin products from four European nations starting next month on grounds they were imported below fair prices.Under the decision, South Korea will impose anti-dumping tariffs of 25.79 per cent to 31.55 per cent from next month to August 2031 on the products imported from Germany, France, Norway and Sweden, according to the Ministry of Finance and Econo…