South Korean stocks increased for two straight sessions Thursday driven by the US Federal Reserve's strong signal for a rate cut next time. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index increased 6.99 points, or 0.25 percent, to close at 2,777.68, following a 1.19 percent rise the previous day. Trade volume was moderate at 463.9 million shares worth 10.6 t...
South Korean stocks started higher Thursday, driven by the US Federal Reserve's rate-cut signals. The benchmark Korea Composite Stock Price Index (Kospi) gained 18.65 points, or 0.67 percent, to 2,789.34 in the first 15 minutes of trading. At its rate-setting meeting, the US central bank froze its key rate in the 5.25-5.50 percent range. Chair Jerome Powell said a reduction in policy rate "could be on the t...
Seoul shares ended sharply higher Wednesday on tech gains amid expectations that the US Federal Reserve may begin a rate cutting cycle within months. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shot up 32.50 points, or 1.19 percent, to close at 2,770.69. Trade volume was moderate at 543.14 million shares worth 11.84 trillion won ($8.6 billion), with gainers outnumbering losers 586 to 302. Institutions and foreigners bought a combined 202 billion won
Seoul shares opened higher Wednesday, following a mixed close on Wall Street, as investors expect the Federal Reserve may begin a rate cutting cycle later this year. The benchmark Korea Composite Stock Price Index added 5.20 points, or 0.19 percent, to 2,743.39 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 40,743.33 points, but the tech-heavy Nasdaq fell 1.3 percent to 17,147.42. This week, all eyes are on the Fed's policy decision on We
Seoul shares closed almost 1 percent lower Tuesday as investors became more cautious ahead of the US Federal Reserve's rate decision and earnings releases from global big techs this week. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 27.34 points, or 0.99 percent, to close at 2,738.19. Trade volume was slim at 376.4 million shares worth 9.9 trillion won ($7.1 billion), with losers far outnumbering winners 664 to 225. Insti
Korean cosmetics exports surpassed $4.8 billion in the first half of 2024, setting a new record for beauty product exports within the first six months of a year. The figure is an 18.1 percent increase from the same period last year, according to the Korea Customs Service. This milestone surpasses the previous semiannual record of $4.63 billion set in the first half of 2021. During the first half of this year, cosmetics imports amounted to $850 million (1.2 trillion won), resulting in a trade s
Seoul shares opened lower Tuesday, following a mixed close on Wall Street, as investors await the Federal Reserve's rate decision and earnings from major tech firms. The benchmark Korea Composite Stock Price Index (Kospi) fell 19.99 points, or 0.72 percent, to 2,745.54 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.1 percent to 40,539.93 points, but the tech-heavy Nasdaq rose 0.07 percent to 17,370.20. This week, all eyes are on the Fed's policy
