South Korean stocks extended their winning streak to the third straight day Wednesday as investors awaited the third-quarter earnings of US AI chip giant Nvidia. The local currency remained unchanged against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 10.34 points, or 0.42 percent, to close at 2,482.29. Trade volume was moderate at 400.3 million shares worth 7.7 trillion won ($5.53 bi...

Hanwha Life, a leading Korean insurance company, said Wednesday it has signed a stock purchase agreement to acquire a 75 percent stake in US securities firm Velocity Clearing. Established in 2003, New York-based Velocity Clearing is an IT-based securities firm primarily serving institutional investors. It offers various financial services, from clearing and settlement to securities lending and prime brokerage. Recent...

South Korean stocks opened slightly higher Wednesday, led by tech and financial shares, as investors awaited earnings results from U.S. AI chip giant Nvidia. The benchmark Korea Composite Stock Price Index added 8.1 points, or 0.33 percent, to 2,480.05 in the first 15 minutes of trading. Overnight, the Nasdaq composite rose more than 1 percent on a 4.9 percent jump in Nvidia as the chipmaker is set to release its qua...

South Korean stocks rose for the second straight day Tuesday following a sharp gain the previous session ahead of the release of AI giant Nvidia's third-quarter earnings. The local currency rose for the third consecutive day against the US dollar. The benchmark Korea Composite Stock Price Index climbed 2.88 points, or 0.12 percent, to close at 2,471.95. The main index soared 2.16 percent Monday, marking the larg...

South Korean stocks started a tad higher Tuesday following the previous day's rally. The benchmark Korea Composite Stock Price Index added 5.11 points, or 0.21 percent, to 2,474.18 in the first 15 minutes of trading. The main index jumped 2.16 percent Monday, the sharpest daily gain since Sept. 26, led by a rally in chipmakers, such as Samsung Electronics. In the United States, the Dow Jones Industrial Average f...

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 mod...

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 pric...

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 affiliat...

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 investo...

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