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…
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New Delhi, July 8 (IANS) South Korea’s bourse operator on Wednesday 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 1:31 p.m., according to the Korea Exchange (KRX).The KOSPI came under heavy selling pressure as investors offloaded technology and other large-cap stocks as they reassess the next phase of artificial intelligence (AI) trade.Foreigners and …
Seoul, July 7 (IANS) South Korea-based Samsung Electronics Co. on Tuesday estimated its second-quarter operating profit at nearly 90 trillion won (US$58.8 billion), marking another quarterly record as strong demand for artificial intelligence (AI)-related semiconductors boosted earnings.The South Korean technology giant said operating profit for the April-June period is expected to total 89.4 trillion won, up 1,181 percent from a year earlier, according to its earnings guidance, reports Yonhap N…
New Delhi, July 6 (IANS) India has emerged as a contrarian investment opportunity within the emerging market universe as the ongoing rally in the asset class become increasingly concentrated around semiconductor companies, according to a report.The report by DSP Netra said that the MSCI Emerging Markets (EM) Index has recovered to levels last seen in 2021, but the rally has been driven by a narrow set of markets and stocks.Among the four markets with index weights exceeding 5 per cent. India is …
Seoul, July 4 (IANS) In 2013, when Dunamu — now the operator of South Korea’s largest crypto exchange, Upbit — was a fledgling startup with just three employees, Kakao Ventures saw a diamond in the rough.After making the first 200 million-won (US$129,575) seed investment that year, Kim Ki-jun, the chief executive officer (CEO) of the venture capital (VC) firm, spearheaded two follow-up rounds of investments, in 2015 and 2017, totaling 3.3 billion won.Thirteen years later, Kakao Ventures and it…
Seoul, July 3 (IANS) Seoul stocks traded higher late on Friday morning in choppy trading as investors snapped up bargain-priced semiconductor shares following the previous session’s sharp sell-off.After opening 1.2 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended its gains, rising 163.52 points, or 2.11 percent, to 7,809.61 as of 11:20 am, reports Yonhap news agency.The index plunged 7.89 percent the previous session, dragged by a heavy sell-off in Samsung Electro…
Seoul, June 29 (IANS) South Korea on Monday unveiled an ambitious plan to build a new semiconductor manufacturing hub in the country’s southwestern region through 800 trillion won ($518 billion) in corporate investment.The proposed investment underscores Seoul’s determination to maintain its dominance in memory chips, which have become increasingly critical amid a global artificial intelligence (AI) boom, while advancing the government’s goal of more balanced regional development, reports Yonhap…
Seoul, June 29 (IANS) South Korean stocks traded sharply lower on late Monday morning as investors remained cautious amid renewed concerns over the fragile US-Iran ceasefire and rising oil prices, with tech shares leading losses.The benchmark Korea Composite Stock Price Index (KOSPI) lost 170.78 points, or 2.03 percent, to 8,240.43 as of 11:20 a.m., after opening 0.91 percent lower, reports Yonhap news agency.Oil prices climbed after the United States and Iran exchanged fresh strikes over the we…
Seoul, June 28 (IANS) Samsung Electronics and SK hynix are set to announce major investment plans early this week at a meeting presided over by President Lee Jae Myung, the presidential office said on Sunday.The investments will be unveiled during a briefing scheduled for 2 p.m. Monday at Cheong Wa Dae on the government’s three mega projects aimed at balanced regional development, presidential spokesperson Kang Yoo-jung said.The initiative is jointly pushed by the trade, science, transport and e…
Seoul, June 26 (IANS) South Korean stocks tumbled nearly 6 per cent on Friday as investors locked in profits after recent rallies driven by stocks related to artificial intelligence (AI). The Korean won gained against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 519.09 points, or 5.81 percent, to close at 8,411.21, after falling as low as 8,126.84, reports Yonhap news agency.The market rout came after the KOSPI rallied by 5.42 percent gain on Thursday and racked up …