Latest news with #LeeKyung-min
Korea Herald
27-06-2025
- Automotive
- Korea Herald
Seoul shares end lower for 2nd day on profit-taking
South Korean stocks fell for the second-straight session Friday as investors continued to cash in recent gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 23.62 points, or 0.77 percent, to close at 3,055.94. Trade volume was moderate at 377.4 million shares worth 13.8 trillion won ($10.2 billion), with losers outnumbering winners 659 to 245. Foreigners sold a net 855.4 billion won worth of local shares, while institutions and retail investors combined bought shares worth a net 805 billion won. Overnight, Wall Street ended higher on hopes that the United States could extend its pause on reciprocal tariffs, which is set to expire next month. The Dow Jones Industrial Average went up 0.94 percent, and the S&P 500 gained 0.8 percent, while the tech-heavy Nasdaq composite added 0.97 percent. "The Kospi, which had risen around 15 percent this month, apparently fell as profit-taking continued for the second session," said Lee Kyung-min, an analyst at Daishin Securities. The overall losses were led by battery and automotive shares, with top battery manufacturer LG Energy Solution plunging 3.03 percent to 288,000 won and leading automaker Hyundai Motor dropping 2.15 percent to 205,000 won. Internet portal operators and refiners also extended their losses. Top portal firm Naver went down 1.34 percent to 257,500 won, and leading refiner SK Innovation tumbled 2.49 percent. Chip shares traded mixed, with Samsung Electronics up 1 percent to 60,800 won and rival SK hynix falling 3.07 percent to 284,000 won. The local currency was trading at 1,357.4 won against the greenback at 3:30 p.m., down 0.5 won from the previous session. Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 0.1 basis point to 2.453 percent, and the return on the benchmark five-year government bonds declined 1.4 basis points to 2.585 percent. (Yonhap)
Korea Herald
19-05-2025
- Business
- Korea Herald
Foreigners return to Kospi on stronger won
Foreign investors, who had been on a massive selling spree, have returned to the South Korean benchmark Kospi, scooping up shares worth 1.5 trillion ($1.07 billion) won this month. According to data provided by the country's main bourse operator, Korea Exchange, offshore investors net bought shares amounting to 1.47 trillion won on the Kospi in May. Outside of May 2, when foreigners offloaded shares worth 167 billion won, they were net buyers on the market for eight consecutive trading days from May 7 to 16. The stock market closed on May 1 and May 3-6 because of public holidays. The buying spree marks a contrast from foreign investors being net sellers on the Kospi for nine straight months since August, offloading a total of 34.15 trillion won. In April, foreign investors dumped shares worth 9.35 trillion won on the bourse, setting a new high on the exodus. The turnaround comes on the back of the won's recent appreciation against the dollar. After weakening to 1,479 won to the US dollar on April 8, the local currency strengthened against the greenback to the 1,400 won level. A stronger won can be appealing for foreign investors to put their money in won-denominated assets, expecting a gain from further appreciation of the won. Chip giant SK hynix was the top-purchased stock for foreign investors this month, as they raked in 1.29 trillion won of shares, followed by energy solutions providers Doosan Enerbility and HD Hyundai Electric at 273 billion won and 147 billion won, respectively. Yet, foreign hands dumped their holdings of tech behemoth Samsung Electronics, net selling shares worth 559 billion won this month. With the sell-off, foreign ownership of Samsung Electronics' shares dropped to 49.7 percent from 56.5 percent in July. 'Foreign investors are continuing the net buying on the back of the improved investor sentiment in the global stock markets,' said analyst Lee Kyung-min at Daishin Securities. 'The anticipation of the won appreciation led to the net buying of foreign investors. The foreigners' move will set the tone for the Kospi's gain.'
