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Korea Herald
21-07-2025
- Business
- Korea Herald
Seoul shares end higher on extended foreign buying
Seoul shares closed higher Monday, driven by an extended foreign buying binge amid lingering concerns over US tariff measures. The Korean won rose against the US dollar. 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)
Business Recorder
15-07-2025
- Business
- Business Recorder
South Korean shares close at near four-year high as Samsung Electronics jumps
SEOUL: Round-up of South Korean financial markets: South Korean shares recouped early losses to close at a near four-year high on Tuesday, led by gains in Samsung Electronics, while better-than-expected China data also lifted investor sentiment. The benchmark KOSPI closed up 13.25 points, or 0.41%, at 3,215.28, its highest closing level since August 11, 2021. Earlier in the session, the index fell as much as 0.57%, weighed by profit-taking pressure. Chipmaker Samsung Electronics rose 1.92%, after U.S. artificial intelligence darling Nvidia said it will resume sales of its H20 graphics processing units (GPU) to China with a new model that complies with regulatory requirements for the Chinese market. Samsung is a major supplier for Nvidia's H20 GPU. China's economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, thoughanalysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out morestimulus. China is South Korea's biggest trading partner. 'The KOSPI turned positive as China's data raised economic recovery hopes, despite technical resistance and profit-taking pressure,' said Lee Kyoung-min, an analyst at Daishin Securities. South Korean shares hit near 4-year high on market reform hopes Among other index heavyweights, chipmaker SK Hynix lost 0.50%, while automakers dropped more than 2%. Steelmaker POSCO Holdings shed 0.16%, and drugmaker Samsung BioLogics fell 1.06%. Foreigners were net buyers of shares worth 212.3 billion won ($153.79 million). The won was quoted at 1,380.2 per dollar on the onshore settlement platform, 0.20% higher than its previous close at 1,383.0. The most liquid three-year Korean treasury bond yield fell by 0.7 basis point to 2.466%, while the benchmark 10-year yield fell by 0.7 basis point to 2.880%.
Korea Herald
29-06-2025
- Business
- Korea Herald
Kospi heads for biggest first-half gain in 26 years
Postelection rally drives 27% surge, but analysts warn of overheating risks South Korea's benchmark Kospi surged 27 percent in the first half of 2025, its strongest performance in over two decades, as investor optimism swelled under the new administration. But with valuations stretched, analysts warn the rally may be overheating the market, raising the risk of a correction. The index jumped from 2,399.49 at the end of last year to 3,055.94 on Friday, according to Korea Exchange data. The gain is more than five times the 5.4 percent rise seen in the same period last year and marks the steepest first-half increase since 1999, when the Kospi soared 57 percent amid the dot-com boom. Other historic first-half rallies were recorded in the 1980s, when Korea enjoyed broad-based growth amid a weak dollar, low interest rates and falling oil prices. The Kospi climbed 51 percent in the first half of 1987, 49 percent in 1986 and 41 percent and 34 percent in each of 1981 and 1988. More recently, the main board rose 23.6 percent in the first half of 2009, as markets rebounded from the global financial crisis. With Monday as the last trading day left in the first half, the Kospi is on track to notch its biggest first-half gain in 26 years, provided it does not fall by more than 2.95 percent. A sharper drop would still likely leave the index with its strongest start to a year since 2009. Much of the surge came in the past month, with the Kospi jumping 13.2 percent in June alone. The rally has been driven by the resolution of political uncertainty and expectations of market-friendly policies under President Lee Jae Myung, who has pledged to lift the Kospi to 5,000 points through measures aimed at revitalizing capital markets and boosting corporate competitiveness. Still, signs of overheating are mounting. As of Thursday, 10 stocks had been designated as an 'investment risk' — the highest warning level under the Korea Exchange's market monitoring system — up from six in the same period last year. 'Investment alert' designations rose 55 percent to 175, while 'investment caution' flags climbed 27 percent to 1,176 over the same period. The trend intensified in June, with 30 stocks labeled 'short-term overheated' as of Thursday — nearly triple March's tally of 11, and significantly above the 22 and 17 recorded in April and May, respectively. Experts also warned that external risks could weigh on market sentiment. Washington granted a three-month reprieve until July 9 on 'reciprocal tariffs' targeting South Korean imports, aiming to reach a bilateral deal on revised trade terms. 'With the Kospi nearing an all-time high, upcoming noise from tariffs and political events could increase pressure for profit-taking,' said Lee Kyoung-min, an analyst at Daishin Securities. 'The Kospi is in overbought territory, and the 90-day grace period for reciprocal tariffs is coming to an end,' said Lee Eun-taek, an equity strategist at KB Securities. 'Tariff threats are highly likely to resurface, and while such risks are nothing new, the market is unlikely to remain unaffected — especially amid growing concerns over an economic slowdown.' After crossing 3,000 points for the first time in nearly 3 1/2 years on June 20, the Kospi quickly climbed past 3,100 the following session, approaching levels last seen in September 2021 and nearing its all-time high of 3,305 set in July 2021. Even so, many analysts expect the Kospi to continue climbing toward year-end, viewing any pullback as a buying opportunity, depending on earnings momentum. 'For policy-driven sectors such as nuclear power, software, and finance, it's wiser to wait for a pullback rather than chase the rally, while undervalued sectors — such as semiconductors, automobiles and retail — may present opportunities as capital rotation continues across industries,' said Daishin's Lee Kyoung-min. Shinhan Securities strategist Noh Dong-kil, who forecasts the Kospi could reach as high as 3,400 points by year-end on a valuation rerating, emphasized the growing importance of earnings. 'After the liquidity rally, earnings will become the key variable,' Noh said. 'There's a risk that third-quarter results may fall short of expectations due to weakening external demand. Only structurally growing stocks with low sensitivity to the economic cycle will be able to break through.'
Business Recorder
26-06-2025
- Automotive
- Business Recorder
South Korean shares decline on profit booking
SEOUL: Round-up of South Korean financial markets: South Korean shares fell on Thursday as investors booked profit after a recent rally on post-election policy optimism. The benchmark KOSPI closed down 28.69 points, or 0.92%, at 3,079.56 after falling as much as 2.31% during the session. The index has risen 14% so far this month. 'The KOSPI fell below the 3,100 level on increasing sales to book profits,' said Lee Kyoung-min, an analyst at Daishin Securities. South Korea President Lee Jae Myung, who took office earlier this month, asked the parliament to swiftly approve the $14.7 billion of extra government spending as the economy is in a 'desperate' situation across domestic consumption and exports. Among index heavyweights, chipmaker Samsung Electronics fell 1.79%, while peer SK Hynix gained 2.45%. Battery maker LG Energy Solution slid 0.34%. Hyundai Motor and sister automaker Kia dropped 3.46% and down 1.98%, respectively. Steelmaker POSCO Holdings shed 0.74%, and drugmaker Samsung BioLogics fell 0.50%. Automakers boost South Korean shares higher Of the total 936 traded issues, 181 advanced and 727 declined. Foreigners were net sellers of shares worth 579.4 billion won ($427.2 million). The won was quoted at 1,356.9 per dollar on the onshore settlement platform, 0.32% higher than Wednesday's close of 1,361.2. In the money and debt markets, September futures on three-year treasury bonds gained 0.04 point to 107.20. The most liquid three-year Korean treasury bond yield fell 0.3 basis point to 2.455%, while the benchmark 10-year yield lost 0.4 basis point to 2.799%.
Korea Herald
16-06-2025
- Business
- Korea Herald
Seoul shares spike 1.8% on bargain hunting in defense, energy, IT sectors
South Korean stocks closed sharply higher Monday, driven by bargain hunting and big gains in the defense, energy and IT sectors. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index jumped 52.04 points, or 1.8 percent, to close at 2,946.66. Trade volume was heavy at 718.1 million shares worth 14.3 trillion won ($10.5 billion), with winners outnumbering losers 619 to 278. Retail investors and institutions net purchased 45.4 billion won and 252.9 billion won worth of local shares, respectively, while foreigners unloaded 322.4 billion won. "The Kospi rebounded after only a one-day fall as retail investors moved to purchase shares at bargains," Lee Kyoung-min, an analyst at Daishin Securities, said, noting the tensions in the Middle East will likely have limited impact on the South Korean stock market in the mid-to-long term. On Friday, major US indexes lost ground as Israel's airstrikes on Iranian military and nuclear facilities sapped investors' risk appetite. The Dow Jones Industrial Average lost 1.79 percent, the tech-heavy Nasdaq composite went down 1.3 percent, and the S&P 500 decreased 1.13 percent. In Seoul, major chipmaker SK hynix jumped 5.31 percent to 248,000 won, while its rival Samsung Electronics shed 1.89 percent to 57,200 won. Defense and energy shares were bullish in particular. Hanwha Aerospace gained 2.75 percent to 970,000 won, Hyundai Rotem soared 6.32 percent to 198,600 won, and Hanwha Systems shot up 18.01 percent to 64,200 won. Major nuclear power plant manufacturer Doosan Enerbility surged 9.16 percent to 59,600 won, and HD Hyundai Electric advanced 6.16 percent to 456,500 won. IT shares also gained ground, with top internet portal operator Naver adding 4.49 percent to 209,500 won, and Kakao, the operator of the country's dominant mobile messenger, rising 3.3 percent to 53,200 won. Shipbuilders were also strong, with HD Hyundai Heavy surging 5.03 percent to 449,000 won, and HD Korea Shipbuilding climbing 4.85 percent to 367,500 won. The local currency was quoted at 1,363.8 won against the greenback at 3:30 p.m., up 5.8 won from the previous session. (Yonhap)
