Seoul, June 30 (IANS) The government plans to lower the resource security crisis warning for crude oil by a notch to Level 2, the vice industry minister said on Tuesday, following the stabilisation of global oil prices amid progress in peace talks between the United States and Iran.Vice Industry Minister Moon Shin-hak made the remark during a Cabinet meeting held at the presidential office, adding the alert for natural gas will be fully lifted as well, reports Yonhap news agency.South Korea oper…
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Seoul, June 25 (IANS) South Korean stocks extended their gains late on Thursday morning, driven by a semiconductor rally, as Micron Technology’s better-than-expected earnings erased concerns over artificial intelligence (AI) growth.After opening 2.74 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended gains, adding 414.55 points, or 4.89 percent, to 8,885.57 as of 11:20 am, reports Yonhap news agency.Overnight, Wall Street closed mixed on concerns about overvaluation…
Seoul, June 25 (IANS) South Korea’s business sentiment worsened for the first time in three months in June on sluggish construction and travel sectors, a central bank survey showed on Thursday.The Composite Business Sentiment Index (CBSI) for all industries stood at 97.7 in June, down 1.2 points from a 3 1/2-year high of 98.9 in May, according to data from the Bank of Korea (BOK).It marked the first on-month decline since March, reports Yonhap news agency.The index measures corporate outlooks on…
Seoul, June 24 (IANS) South Korean stocks extended their gains on Wednesday morning as individual investors went bargain hunting following the previous session’s massive sell-off in technology stocks.After opening 1.86 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) added 272.43 points, or 3.32 percent, to 8,476.27 as of 11:20 am, reports Yonhap news agency.Overnight, Wall Street closed lower as sharp declines in memory chip and semiconductor stocks weighed on investor se…
New Delhi, June 23 (IANS) US stock futures tumbled on Tuesday, signalling a weak start for Wall Street, as a global selloff in technology shares reignited concerns over whether massive investments in artificial intelligence (AI) can justify soaring market valuations.Nasdaq 100 futures fell more than 2 per cent, while S&P 500 futures declined over 1 per cent in pre-market trading. Meanwhile, Dow Jones futures were relatively resilient, falling around 0.4 per cent. The selling was triggered af…
Mumbai, June 19 (IANS) Domestic equity markets opened lower on Friday after a recent rally, with IT stocks bearing the brunt of the selling pressure after global software services provider Accenture’s guidance cut triggered concerns over the sector’s growth outlook.Sensex opened at 76,852.86, down 0.71 per cent or over 500 points, while Nifty began the session at 23,991.20, declining 0.73 per cent or more than 150 points.Sector-wise, Nifty IT plunged nearly 6 per cent, while Nifty MidSmall IT &a…
New Delhi, June 13 (IANS) China has tightened oversight of its 23 trillion yuan (over $3 trillion) private fund industry amid growing concerns over inefficient capital allocation, fiscal risks and excessive state-backed investments in technology startups, a report has said.According to an analysis by CNBC, the latest development comes after China’s State Council unveiled new guidelines to strengthen supervision of government investment funds, while local authorities reportedly sought details of …
Mumbai, June 11 (IANS) Domestic equity benchmarks traded lower on Thursday in the morning session amid escalating tensions in West Asia and a sharp rise in crude oil prices.Sensex declined over 450 points or 0.62 per cent to touch an intraday low of 73,518 in early trade. Similarly, Nifty slipped more than 100 points or 0.61 per cent to an intraday low of 23,072.Sectorally, IT stocks led the decline, with the Nifty IT index tumbling more than 2 per cent. Nifty MidSmall IT & Telecom, Nifty Ce…
New Delhi, June 10 (IANS) Global crude oil prices traded higher on Wednesday, increasing by up to 1 per cent after the United States launched strikes against Iranian military targets near the Strait of Hormuz, raising concerns over potential disruptions to energy supplies from the strategically important region.International benchmark Brent crude was up about 1 per cent at $93.26 per barrel. Similarly, US West Texas Intermediate (WTI) crude gained 0.97 per cent to trade around $90 per barrel.The…
Seoul, June 10 (IANS) South Korean stocks started sharply lower on Wednesday on news that the United States has launched new strikes on Iran and overnight tech losses on Wall Street.After opening 2.43 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) shed 125.98 points, or 1.56 percent, to 7,970.95 in the first 15 minutes of trading, reports Yonhap news agency.The U.S. has struck Iran in response to the shooting down of an American Apache helicopter in the Strait of Hormuz, …