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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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…
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 14 (IANS) Foreign investors remained net sellers of South Korean equities for the fifth consecutive month in June, central bank data showed on Tuesday, despite a tech-led rally in the local stock market.Offshore investors sold a net US$30.72 billion worth of local stocks and bonds last month, following net sales of $26.15 billion in May, according to data from the Bank of Korea (BOK).They have remained net sellers since February, reports Yonhap news agency.Breaking down the figures, …
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…
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…
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…
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 …