Seoul, July 14 (IANS) South Korea detected 2.4 trillion won ($1.61 billion) worth of illegal foreign exchange transactions through May as the country stepped up surveillance against related crimes amid the volatility in the currency market, the finance ministry said on Tuesday.The Ministry of Finance and Economy announced the findings during a meeting with foreign exchange-related agencies amid growing concerns over illegal transactions following the Korean won’s recent slide against the U.S. do…
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Seoul, June 26 (IANS) South Korea’s bourse operator on Friday activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) as stocks crashed due to a slump in tech heavyweights.Trading of KOSPI-listed shares was halted for 20 minutes. The Korea Exchange (KRX) triggered the measure after the KOSPI plummeted more than 8 percent from the previous session’s close, reports Yonhap news agency.The benchmark index came under heavy selling pressure as investors dumped large-cap…
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, April 13 (IANS) South Korean stocks traded lower on Monday as investor concerns grew over a prolonged conflict in the Middle East after the U.S.-Iran peace talks failed to make progress, while U.S. President Donald Trump threatened a blockade of the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) fell 68.15 points, or 1.16 percent, to 5,790.72 as of 11:20 am (local time), reports Yonhap news agency.President Trump announced a blockade of Iranian ports following ma…
Seoul, April 3 (IANS) South Korea’s foreign reserves posted their sharpest monthly decline in about a year in March amid a stronger dollar and authorities’ efforts to manage exchange rate volatility, the central bank said on Friday.The country’s foreign reserves stood at US$423.66 billion as of end-March, down $3.97 billion from a month earlier, according to the data from the Bank of Korea (BOK).It was the sharpest decline since April 2025, when the amount fell by $4.99 billion on-month, reports…
Seoul, April 3 (IANS) The government will take stern measures, including legal means, against malicious activities aimed at taking advantage of recent market volatility through the spread of fake news and rumours, a senior finance ministry official said on Friday.”Spreading unfounded fake news in a time of extraordinary crisis is a serious matter that can fuel market anxiety and undermine trust in policy,” Moon Ji-sung, deputy minister for international economic affairs, said while presiding ove…
Seoul, March 24 (IANS) Seoul stocks trimmed earlier gains late on Tuesday morning, despite easing military tensions between the United States and Iran.The benchmark Korea Composite Stock Price Index (KOSPI) inched up 45.02 points, or 0.83 percent, to 5,450.77, as of 11:20 a.m.The index reduced its gains following a sharp rebound of over 4 percent in the opening bell, as the broader market came under selling pressure from foreign investors, reports Yonhap news agency.Overnight, major U.S. stock i…
Seoul, March 23 (IANS) Foreign currency deposits in South Korea fell for the second straight month in February, due to a decline in both individual and corporate deposits, central bank data showed on Monday.Outstanding foreign currency-denominated deposits held by residents stood at US$117.53 billion at the end of February, down $490 million from a month earlier, according to the data from the Bank of Korea (BOK), reports Yonhap news agency.In January, foreign currency deposits fell for the firs…
Seoul, Feb 27 (IANS) Foreign currency deposits in South Korea fell for the first time in three months in January, due to a decline in corporate deposits, central bank data showed on Friday.Outstanding foreign currency-denominated deposits held by residents stood at US$118.03 billion at the end of January, down $1.4 billion from a month earlier, according to the data from the Bank of Korea (BOK), reports Yonhap news agency.It marked the first on-month decline since October, following gains in Nov…
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…