Seoul, Jan 26 (IANS) South Korean stocks closed lower on Monday to snap three consecutive days of rise ahead of a U.S. rate-setting meeting, with investors sitting on the sidelines amid geopolitical uncertainties in Iran.The Korean won sharply gained against the U.S. dollar, and the tech-laden KOSDAQ surged by more than 7 percent to land above 1,000 for the first time in more than four years, reports Yonhap news agency.The benchmark Korea Composite Stock Price Index (KOSPI) fell 40.48 points, or…
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Seoul, Jan 16 (IANS) South Korean stocks ended at a fresh record high above 4,800 points on Friday, extending their rally to an 11th consecutive session amid continued buying momentum in semiconductor shares. The local currency fell against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 43.19 points, or 0.9 per cent, to finish at a record 4,840.74, reports Yonhap news agency.Before closing, the index touched an intraday record of 4,863.82 at 3:22 p.m.It marked the 11t…
New Delhi, Jan 13 (IANS) The global semiconductor revenue reached $793 billion globally in 2025, marking an increase of 21 per cent year‑on‑year, a report said on Tuesday.The report from tech research company Gartner said that AI semiconductors — including processors, high‑bandwidth memory and networking components — drove the growth and accounted for nearly one‑third of total sales in 2025.“This domination is set to rise as AI infrastructure spending is forecast to surpass $1.3 tr…
Seoul, Jan 13 (IANS) The South Korean currency fell further on Tuesday, hovering below the level of 1,470 won per US dollar shortly after recovering from a near 16-year low.The won opened at 1,468.5 per dollar, down 0.1 won from the previous session, and dipped further to 1,472.45 won as of 9:30 am, reports Yonhap news agency.The local currency had slid to a 16-year low of around 1,480 won in mid-December and rebounded above the 1,450 won mark on Dec. 24 for the first time in about two months fo…
Seoul, Jan 7 (IANS) Seoul shares extended their rally to a fourth day to set a fresh record high on a tech and auto rally on Wednesday after briefly landing above the 4,600-point level. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 25.58 points, or 0.57 percent, to close at an all-time high of 4,551.06, reports Yonhap news agency.The index briefly topped the 4,600-point mark, touch an intraday high of 4,611.72.On Tuesday, the KOSPI broke t…
Seoul, Jan 4 (IANS) Foreign ownership as a share of total market capitalisation reached its highest level in five years and eight months in December amid a rally in the South Korean equity market, a report showed on Sunday.Foreigners bought a net 3.5 trillion won (US$2.4 billion) worth of local shares in December, raising their stockholdings to 32.9 percent of total market capitalsation, the highest level since April 2020, according to a report published by the Korea Center for International Fin…
Seoul, Dec 28 (IANS) Experts on Sunday viewed the 1,420 level as an annual average for the won against the U.S. dollar, as financial authorities stepped up verbal intervention to arrest the won’s slide.The Korean won closed at 1,440.3 won against the US dollar on Friday, marking the lowest level since Nov. 4, according to data from Seoul Money Brokerage Services, reports Yonhap news agency.With financial authorities stepping up verbal intervention to curb the won’s weakness, the won rose sharply…
Seoul, Dec 26 (IANS) South Korea’s stock market enjoyed a stellar year and outperformed both regional and global peers, boosted by artificial intelligence (AI) and the government’s market reform measures.Once hovering around the 2,400 mark, the benchmark Korea Composite Stock Price Index (KOSPI) hit a new milestone on Oct. 27, surpassing the 4,000 level for the first time since the index was introduced in 1983, reports Yonhap news agency.The KOSPI was the best-performing stock gauge among those …
Seoul, Dec 23 (IANS) Foreign investors are snapping up tech and auto shares in the local stock market, possibly becoming net buyers a month after turning to net selling, data showed on Tuesday.Foreign investors purchased a net 1.9 trillion won (US$1.3 billion) in the larger Korea Stock Price Index (KOSPI) market from Dec. 1 through Monday, according to the data from the Korea Exchange, the country’s main bourse operator, reports Yonhap news agency.It marks a sharp turnaround from November, when …
Seoul, Dec 23 (IANS) South Korea on Tuesday launched a trial period for a new policy requiring people to undergo real-time face recognition when registering a new mobile phone number, as the government aims to curb scam attempts using illegally registered accounts.The country’s three mobile carriers — SK Telecom Co., KT Corp. and LG Uplus — along with mobile virtual network operators, will be required to follow the procedure in both in-person and remote settings under the new policy, which is …