
Seoul shares end higher on extended foreign buying
The benchmark Korea Composite Stock Price Index added 22.74 points, or 0.71 percent, to close at 3,210.81.
Trade volume was a little slim at 341.3 million shares worth 10.6 trillion won ($7.6 billion), with losers outnumbering winners 489 to 390.
Foreign investors purchased 893.4 billion won worth of local shares, while institutions bought 101.3 billion won. Retail investors dumped 1.06 trillion won worth of shares for profit-taking.
"Foreigners continued the purchases of Seoul shares for the eighth consecutive session amid positive evaluation of the Kospi by global investment banks," said Lee Kyoung-min, an analyst at Daishin Securities.
On Friday, Wall Street closed mixed as concerns over US President Donald Trump's administration's tariff policies offset the risky appetite caused by strong US retail sales data.
The Dow Jones Industrial Average shed 0.32 percent, and the S&P 500 edged down 0.01 percent, while the tech-heavy Nasdaq composite inched up 0.05 percent.
Over the weekend, US Commerce Secretary Howard Lutnick said Aug. 1 is a "hard deadline" for Washington's reciprocal tariffs, pressuring its major trading partners to swiftly come up with terms of trade negotiations.
In Seoul, tech giant Samsung Electronics rose 1.04 percent to 67,800 won, and its chipmaking rival SK hynix gained 1.3 percent to 272,500 won.
Leading battery maker LG Energy Solution jumped 2.64 percent to 331,000 won, and defense powerhouse Hanwha Aerospace advanced 2.57 percent to 919,000 won.
Major power plant manufacturer Doosan Enerbility soared 5.56 percent to 68,400 won, and steel giant Posco Holdings surged 5.14 percent to 327,000 won.
Leading shipbuilders Hanwha Ocean and HD Hyundai Heavy rose 4.98 percent and 4.81 percent to 84,400 won and 425,000 won, respectively.
Renewable energy firm Hanwha Solution shot up 7.37 percent to 37,900 won on forecasts the company will swing to a profit in the second quarter.
On the other hand, top automaker Hyundai Motor lost 0.71 percent to 209,000 won, and Naver, South Korea's biggest internet portal operator, went down 0.83 percent to 240,000 won.
The local currency was quoted at 1,388.2 won against the US dollar at 3:30 p.m., up 4.8 won from the previous session. (Yonhap)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Korea Herald
11 hours ago
- Korea Herald
Seoul shares up for 3rd day amid US tariff uncertainties; won sharply down
Seoul shares closed slightly higher Friday, extending their winning streak to a third day, as investors kept a close eye on the ongoing tariff negotiations between South Korea and the United States, which is expected to have a huge impact on the economy. The Korean won lost ground against the US dollar. The benchmark Korea Composite Stock Price Index added 5.6 points, or 0.18 percent, to close at 3,196.05. Trade volume was moderate at 385.7 million shares worth 9.8 trillion won ($7.1 billion), with losers outnumbering winners 504 to 370. Foreigners and institutions bought shares worth 268.9 billion won and 110.4 billion won, respectively, while retail investors unloaded 461.3 billion won. Overnight, Wall Street closed mixed, with the tech-heavy Nasdaq composite and the S&P 500 up 0.18 percent and 0.07 percent, respectively, while the Dow Jones Industrial Average shed 0.7 percent. Investors were paying close attention to whether Seoul will also strike a trade deal with Washington following Japan as Korea's top trade officials met with US Commerce Secretary Howard Lutnick in the US capital on Thursday (local time). In the meeting, the two sides reaffirmed their commitment to striking a trade deal before the Aug. 1 deadline and agreed to soon hold an additional round of negotiations, according to the Seoul government. "The market appears to have been relieved on news that Korea's industry minister and trade minister met with Lutnick, but the KOSPI showed limited growth due to persisting uncertainties ahead of the looming negotiation deadline," Lee Kyoung-min, an analyst at Daishin Securities, said. In Seoul, tech giant Samsung Electronics edged down 0.15 percent to 65,900 won, while its chipmaking rival SK hynix lost 1.3 percent to 266,000 won. Leading battery maker LG Energy Solution shed 1.22 percent, reflecting Tesla's 8.2 percent slide overnight. Bio shares also lost ground, with Samsung Biologics falling more than 2 percent to 1.06 million won and Celltrion down 1.33 percent to 178,000 won. Top automaker Hyundai Motor went down 0.46 percent to 216,500 won and its sister Kia retreated 0.86 percent to 104,100 won as they both posted a decrease in operating profits in the second quarter mainly due to the effects of 25 percent tariffs on all imported cars imposed by the Donald Trump administration. On the other hand, financial and shipbuilding shares delivered strong performances. KB Financial climbed 1.37 percent to 118,800 won and Shinhan Financial advanced 2.74 percent to 71,200 won. Major shipbuilder HD Hyundai Heavy soared 5.83 percent to 444,500 won, and its rival Hanwha Ocean gained 1.35 percent to 90,000 won on expectations for cooperation in the sector with the US Internet portal operator Naver also jumped 3.3 percent to 234,500 won, while Kakao Pay, the fintech arm of Kakao, shot up 10.71 percent on massive purchases by global investment bank Goldman Sachs. The local currency was quoted at 1,377.9 won against the US dollar at 3:30 p.m., down 10.7 won from the previous session. (Yonhap)


Korea Herald
12 hours ago
- Korea Herald
Miracell launches Korea's first generative AI voice system for hospitals
Korean stem cell research company Miracell has introduced the nation's first generative AI-powered voice consultation system designed for medical institutions. Co-developed with Europe-based Vee, a Warsaw-listed AI company, the solution marks a major shift in healthcare automation. The company said Monday it has secured exclusive distribution rights for Vee's AI solution across Asia and is working closely with Vee Korea to customize the system for local hospitals. Unlike traditional rule-based ARS systems, the new AI tool uses natural language processing to deliver 24-hour conversational support, handling appointment scheduling, billing inquiries, patient reminders and general questions. The system is particularly effective during nights and weekends, when staffing is limited. It integrates with hospital customer relationship management systems and supports both inbound and outbound calls. Hospitals can trial the solution free for one month, lowering the adoption barrier. 'Generative AI can dramatically improve service quality in medical care,' said Shin Hyun-soon, CEO of Miracell. 'This isn't just an upgrade — it's a survival strategy for the health care sector.' Vee provides the underlying large language model engine, customized for Korean language and clinical context. A future version will link with Miracell's Celldoc platform, integrating patient consultations, appointments, and treatment records into a single interface. By combining its stem cell expertise with cutting-edge AI, Miracell aims to set a new standard in the health care industry. 'We're starting with clinics already using Smart-MCell,' a Miracell spokesperson said. 'But this is just the beginning. With AI, we hope to bring patients and caregivers even closer, and open the door to a more responsive, intelligent health care experience.'


Korea Herald
13 hours ago
- Korea Herald
Stimulus coupon applications top 57% in 4 days $3.8b already distributed
More than half of eligible recipients have applied for stimulus vouchers just four days after the launch of the nationwide program, the Ministry of the Interior and Safety said Friday. According to the ministry, 28.9 million people, or 57.1 percent of those eligible, including all Korean citizens and some foreign residents, had submitted applications by Thursday, with a total of 5.21 trillion won ($3.79 billion) in coupons distributed. In Incheon and Sejong, the application rates exceeded 60 percent. South Jeolla Province and Jeju Island both saw relatively lower rates at 53.2 percent, with 943,325 people applying in South Jeolla Province and 351,996 in Jeju Island. In Seoul, 5.2 million people had applied, accounting for 57 percent of those eligible. The coupon program began on July 21, marking its fifth day on Friday. This week, applications were accepted on designated days according to the last digit of an applicant's birth year. On Friday, those born in years ending in 5 or 0 were eligible to apply. Starting this weekend and continuing through the end of the first round of applications at 6 p.m. on Sept. 12, applications can be submitted regardless of birth year. The coupons can be used from the day after application until Nov. 30 at small businesses with annual sales under 3 billion won.