Seoul shares rise over 2% on strong Samsung buying

South Korean stocks jumped more than 2 percent Monday as investors scooped up Samsung Electronics' shares on the chip giant's massive buyback plan. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) gained 52.21 points, or 2.16 percent, to close at 2,469.07. It marked the largest daily gain since Sept. 26, when the Kospi jumped 2.9 percent Trade volume was moderate at 431.2 million shares worth 10.4 trillion won (US$7.5 billion), with gai

Nov. 18, 2024

W10tr buyback plan fires up Samsung stock

Shares of Samsung Electronics continued to gain Monday, following the company’s announcement of a share buyback plan worth 10 trillion won ($7.17 billion) on Friday, partly recovering from a steep decline the previous week. Samsung Electronics shares closed trading at 56,700 won Monday, up 3,200 won or 5.98 percent from the previous trading day, according to the Korea Exchange. During intraday trading, the price surged to as high as 57,500 won. The rebound comes after the shares sank to an

Nov. 18, 2024

Seoul shares open higher on large-cap gains

South Korean stocks got off to a strong start Monday, led by gains from large-cap shares. The benchmark Korea Composite Stock Price Index added 36.08 points, or 1.49 percent, to 2,452.94 in the first 15 minutes of trading. Market bellwether Samsung Electronics soared 5.79 percent, and leading battery maker LG Energy Solution increased 2.43 percent. Top automaker Hyundai Motor rose 3.4 percent, and its sister affiliate Kia jumped 2.84 percent. Energy shares were the biggest winners as KEPCO climb

Nov. 18, 2024

Foreign ownership of S. Korean stocks at yearly low: data

Foreign ownership of South Korean shares fell to the lowest level of this year following Donald Trump's presidential reelection, data showed Sunday. Foreign holdings of Korean stocks on the main bourse Kospi accounted for 32.3 percent, or 637.48 trillion won ($456 billion), of the market capitalization worth 1,973.51 trillion won as of Friday, according to the data compiled by the Korea Exchange. Foreign investors held 32.7 percent of Kospi-listed stocks early this year, but the ratio conti

Nov. 17, 2024

Samsung Electronics to buy back 10 tln won in shares to enhance shareholder value

Samsung Electronics Co. said Friday it will buy back its own shares worth a combined 10 trillion won (US$7.16 billion) over the next year as part of efforts to boost its shareholder value following a recent slide in its stock price. In the buyback plan approved by the board of directors, a combined 3 trillion won of shares will be bought back within three months starting Monday and continuing until Feb. 17, the company said in a statement. For the remaining 7 trillion won, the company will decid

Nov. 15, 2024

Seoul shares end nearly flat amid bargain hunting

Seoul shares closed nearly flat Friday as investors' bargain hunting limited declines amid lingering uncertainties, including a possible slowdown in US rate cuts. The local currency gained against the US dollar, trading at the 1,300 won level as of 3:30 p.m. for the first time in four days. The benchmark Korea Composite Stock Price Index edged down 2 points, or 0.08 percent, to close at 2,416.86. The main index briefly fell below the psychologically significant 2,400 level at one point. Tra

Nov. 15, 2024

Seoul shares open lower as Fed hints at slowing rate cut

South Korean stocks opened lower Friday as Federal Reserve Chair Jerome Powell hinted at slowing the central bank's rate cut amid signs of lingering inflation. The Korean won opened slightly lower against the greenback, continuing to hover above the psychologically important level of 1,400 won. The benchmark Korea Composite Stock Price Index fell 0.57 points, or 0.57 percent, to 2,405.12 in the first 15 minutes of trading. During a speech held in Dallas, Powell said the economy is showing n

Nov. 15, 2024

Samsung stocks fall to 4-year low

Shares of South Korean tech behemoth Samsung Electronics sank to an over four-year low of under 51,000 won ($36.24) Wednesday, reflecting the clouds cast over the company's chip leadership in the AI era. Samsung Electronics shares on the Kospi closed trading at 50,600 won on Wednesday, dropping by 2,400 won or 4.53 percent from the previous trading day. Shares of the company started the day at 52,000 won but dropped to as low as 50,500 won, hitting the lowest intraday trading level since Ju

Nov. 13, 2024

Seoul shares crash to 1-yr low on Trump policy woes

South Korean shares fell to their lowest level in a year Wednesday, extending their losing streak to a fourth day, as investors' concerns grew over policy uncertainties under the incoming US Trump administration. The local currency also dropped against the US dollar to a two-year low, breaching 1,400 won for the second straight session as of 3:30 p.m. The benchmark Korea Composite Stock Price Index sank 65.49 points, or 2.64 percent, to close at 2,417.08, marking the lowest since Nov. 13, 2

Nov. 13, 2024

Seoul shares open lower amid woes over weak won, Trump policies

South Korean stocks opened bearish Wednesday amid a continued slide of the Korean won and uncertainties surrounding the new Trump administration's policies. The Korean won continued to slide against the US dollar, hovering above the psychologically important level of 1,400 won. The benchmark Korea Composite Stock Price Index fell 11.46 points, or 0.46 percent, to 2,471.11 in the first 15 minutes of trading. In Seoul, top tech giant Samsung Electronics fell 1.7 percent, while No. 2 chipmaker

Nov. 13, 2024

Won hits 2-year low, Kospi crashes past 2,500

The Korean won and the local bourse dipped to their weakest levels in months, as Donald Trump’s victory in the US presidential election fueled concerns on the outlook of the export-reliant South Korean economy. The Korean won closed its daytime trading against the US dollar at 1,403.5 won, marking an 8.8 won depreciation from the previous trading day. It was the first time in two years for the won-dollar currency exchange rate to close at over 1,400 won. After the daytime closing, the won

Nov. 12, 2024

Seoul shares dip to over 3-month low amid 'Trump trade,' won at 2-yr low

South Korean shares dipped to the lowest in over three months on Tuesday, as investors remained concerned due to the sliding Korean won and US policy uncertainties under the incoming Trump administration. The local currency sharply fell against the US dollar, closing above 1,400 won for the first time in two years. The benchmark Korea Composite Stock Price Index lost 49.09 points, or 1.94 percent, to close at 2,482.57, the lowest since Aug. 5, when the corresponding figure was 2,441.55. Trade vo

Nov. 12, 2024

Bitcoin hits record in Korea, even without ‘kimchi premium’

The price of the world’s biggest cryptocurrency bitcoin has surpassed 120 million won ($85,500) at local exchanges for the first time, on the back of a recent rally sparked by Donald Trump’s return to the White House. As of 5 p.m. Tuesday, bitcoin traded at 127 million won on Upbit, the nation’s largest crypto exchange. The cryptocurrency fluctuated at a similar level on other major local exchanges, including Bithumb. The surge comes shortly after the crypto hit the 110 million

Nov. 12, 2024

Seoul shares open lower amid continued 'Trump trade'

South Korean stocks opened lower Tuesday bucking continued bullish runs on Wall Street, amid lingering uncertainties over the impact of the new Trump administration's policies on the domestic industry. The Korean won also breached the psychologically important level of 1,400 won against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 12.62 points, or 0.5 percent, to 2,519.04 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite increased 0.06 p

Nov. 12, 2024

Seoul shares fall over 1% on chip slump amid US uncertainties

South Korean shares declined more than 1 percent Monday as Samsung Electronics fell to an over two-year low amid rising uncertainties over the new Trump administration's trade policies. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 29.49 points, or 1.15 percent, to close at 2,531.66, following a 0.14 percent drop on Friday. Trade volume was heavy at 565.2 million shares worth 11.1 trillion won ($7.96 billion), with losers far out

Nov. 11, 2024

[Photo News] Bitcoin hits new high

A screen shows bitcoin trading at over $80,000 at local crypto exchange Upbit's headquarters in southern Seoul, Monday morning. The price of bitcoin hit an all-time high, marking a nearly 17 percent rise over the past week. Bitcoin traded as high as $81,784 on Upbit, as of press time. The recent surge was largely driven by US President-elect Donald Trump's victory, after he stressed his will to ease crypto-related regulations. (Lim Se-jun/The Korea Herald).

Nov. 11, 2024

Seoul shares open lower on Trump uncertainties

South Korean stocks opened lower on Monday, as investors sat on the sidelines over policy uncertainties under the incoming Trump administration. The benchmark Korea Composite Stock Price Index fell 12.6 points, or 0.49 percent, to 2,548.55 in the first 15 minutes of trading. In Seoul, top tech giant Samsung Electronics moved down 2.11 percent, and No. 2 chipmaker SK hynix shed 1.8 percent. Top battery maker LG Energy Solution, on the other hand, increased 8.91 percent. Top steelmaker Posco Holdi

Nov. 11, 2024

Seoul shares down despite Fed's rate cut; won sharply up

South Korean stocks closed lower Friday as uncertainties over the incoming Trump administration's policies overshadowed a back-to-back rate cut by the Federal Reserve. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 3.48 points, or 0.14 percent, to close at 2,571.15. Trade volume was moderate at 440.7 million shares worth 9.63 trillion won ($6.94 billion), with losers outpacing winners 469 to 388. Foreigners sold a net 18.1 billion

Nov. 8, 2024

Seoul shares open sharply higher on US rate cut

South Korean stocks opened sharply higher, tracking overnight gains on Wall Street, after the US Federal Reserve lowered its benchmark interest rate by a quarter-percentage point. The Korean won also sharply gained against the greenback. The benchmark Korea Composite Stock Price Index added 25.57 points, or 1 percent, to 2,590.2 in the first 15 minutes of trading. The rate cut marked the second consecutive reduction following a 50-basis-point cut in September. The move came after Republican flag

Nov. 8, 2024

Seoul shares close tad higher amid Trump policy uncertainties

South Korean stocks finished slightly higher to end a two-session losing streak Thursday as investors scurry to gauge the potential impact of the upcoming President-elect Donald Trump administration's policy on key sectors like semiconductors, EV batteries and shipbuilding. The Korean won edged down against the US dollar. After opening slightly lower, the benchmark Korea Composite Stock Price Index added 1.12 points, or 0.04 percent, to close at 2,564.63. Trade volume was moderate at 447 mi

Nov. 7, 2024