Seoul, June 8 (IANS) South Korean stocks were trading more than 6 per cent lower late on Monday as investors dumped market heavyweights amid a tech slump sparked by a US chip slide and concerns over a possible hawkish pivot of the US Federal Reserve. The local currency was trading sharply lower against the US dollar after opening at a 17-year low.After falling nearly 9 percent, the benchmark Korea Composite Stock Price Index (KOSPI) had plunged 492.8 points, or 6.04 percent, to 7,667.79 as of 11…
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Seoul, June 5 (IANS) Seoul shares traded nearly 4 per cent lower on Friday as investors locked in profits from a recent tech-led rally while monitoring uncertainty over US-Iran peace negotiations.After opening 3.44 percent lower, the Korea Composite Stock Price Index (KOSPI) lost 334.97 points, or 3.88 percent, to 8,304.44 as of 11:20 a.m., recovering some of its earlier losses after plunging as much as 6.88 percent.The Korea Exchange suspended program trading for the KOSPI for five minutes at a…
Seoul, June 4 (IANS) South Korean stocks opened sharply lower on Thursday, tracking overnight losses on Wall Street caused by uncertainty over negotiations between the United States and Iran to end their war in the Middle East.After starting 2.02 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) lost 180.03 points, or 2.05 percent, to 8,621.46 as of 9:15 am, reports Yonhap news agency.The KOSPI closed at an all-time high of 8,801.49 on Tuesday. The local stock market was clo…
Seoul, June 2 (IANS) Jensen Huang, chief executive officer of US chip giant Nvidia, met with SK Group Chairman Chey Tae-won in Taipei to discuss the future of cooperation in artificial intelligence (AI) memory.The meeting took place in Taipei, according to a post on SK Group’s Facebook account. Both executives were in the Taiwanese capital to attend Computex, one of Asia’s largest technology trade shows.”With SK hynix reaching a market capitalisation of US$1 trillion, the executives of both comp…
New Delhi, June 2 (IANS) As the artificial intelligence boom reshapes the global technology industry, compensation and profit-sharing are increasingly emerging as key issues, with Nvidia CEO Jensen Huang arguing that workers should be paid as much as possible.Speaking on the sidelines of Computex in Taipei on Tuesday, Huang said employees should benefit from the rapid growth generated by AI-driven investments.“I think people should be paid as much as possible,” Huang said while responding to…
Seoul, June 2 (IANS) South Korean stocks traded lower late on Tuesday morning as investors rushed to cash out market heavyweights, bucking overnight gains on Wall Street.Opening a tad higher, the benchmark Korea Composite Stock Price Index (KOSPI) was down 188.63 points, or 2.15 percent, to 8,599.75 as of 11:20 am (local time), reports Yonhap news agency.Overnight, U.S. stocks finished higher, with major indexes reaching fresh record highs as a rally in tech shares lifted market sentiment.U.S. c…
Seoul, May 29 (IANS) Samsung Electronics said on Friday it has begun shipping samples of its latest high-bandwidth memory (HBM) chip, the 12-layer HBM4E, marking the world’s first shipment of the next-generation artificial intelligence (AI) memory product.The move comes just three months after Samsung became the first company to begin mass production and shipments of sixth-generation HBM4 chips in February, underscoring its efforts to strengthen its leadership in the rapidly growing AI memory ma…
Seoul, May 28 (IANS) South Korean stocks were trading more than 1 per cent lower late on Thursday as foreign investors unloaded local shares following a recent tech-led rally and news that the United States launched new strikes against Iran.The benchmark Korea Composite Stock Price Index (KOSPI) had fallen 84.32 points, or 1.02 percent, to 8,144.38 as of 11:20 a.m, reports Yonhap news agency.The index closed at a record high of 8,288.7 on Wednesday, extending its winning streak to the fourth con…
Seoul, May 27 (IANS) South Korea’s overseas financial assets rose to a fresh record high in the first quarter, driven by increased direct investments in the United States, central bank data showed on Wednesday.The country’s external financial assets stood at US$2.88 trillion as of end-March, up $15 billion from three months earlier, according to preliminary data from the Bank of Korea (BOK), reports Yonhap news agency.It marks the largest amount ever, though the pace of its growth slowed from th…
Seoul, May 27 (IANS) Unionised workers at Samsung Electronics voted to approve a wage agreement, the union said on Wednesday, easing concerns about potential disruptions to the global supply chain.In the six-day vote, 73.7 percent of the 62,616 members of the tech giant’s two largest unions approved the tentative deal. The agreement was finalised after a majority of eligible voters took part in the vote and a majority voted in favour of the proposal, reports Yonhap news agency.The labour union a…