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Korea Herald
5 days ago
- Business
- Korea Herald
Kospi ends higher amid postponed tariff talks; won sharply up
Seoul shares closed slightly higher Thursday amid heightened concerns over high-level trade talks between South Korea and the United States. The Korean won rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 6.68 points, or 0.21 percent, to close at 3,190.45. The index had surpassed the 3,230-point mark during the morning session, but trimmed earlier gains on news the "2+2" high-level trade talks between Seoul and Washington, originally planned for Friday (US time) in Washington, were postponed due to the urgent schedule of US Treasury Secretary Scott Bessent. The two sides had planned to hold the high-stake negotiations involving Bessent, US Trade Representative Jamieson Greer and their respective Korean counterparts -- Finance Minister Koo Yun-cheol and Trade Minister Yeo Han-koo. "News like this ahead of the planned imposition of 25 percent reciprocal tariffs on Aug. 1 raises concerns for investors," Seo Sang-young, an analyst at Mirae Asset Securities, said. "After the news, major Korean automobile firms trimmed their earlier gains or turned to losses," he added. Trade volume was moderate at 422.4 million shares worth 12.9 trillion won ($9.4 billion), with losers outnumbering winners 707 to 192. Foreigners and institutions purchased local shares worth 736.7 billion won and 128.8 billion won, respectively, while retail investors dumped 950.9 billion won. Battery and shipbuilding shares were particularly strong in Thursday's session. Leading battery maker LG Energy Solution shot up 9.36 percent to 368,000 won and its smaller rival Samsung SDI advanced 3.09 percent to 190,300 won. Major shipbuilder HD Hyundai Heavy rose 1.69 percent to 420,000 won and Hanwha Ocean jumped 6.35 percent to 88,800 won. Defense giant Hanwha Aerospace also soared 3.41 percent to 941,000 won, while biopharmaceutical powerhouse Samsung Biologics climbed 2.26 percent to 1.09 million won. Major power equipment builder Doosan Enerbility also surged 3.15 percent to 65,400 won. Korean chipmaking giant SK hynix rose 0.19 percent to 269,500 won after the company reported record high operating profit and sales for the April-June period, while its rival Samsung Electronics lost 0.6 percent to 66,000 won. Top automaker Hyundai Motor, meanwhile slid 2.03 percent to 217,500 won with a sharp drop in operating profit in the second quarter partially due to the effects of 25 percent auto tariffs by the Trump administration. Its sister, Kia, also went down 1.04 percent to 105,000 won. IT shares also lost ground. Naver, the operator of Korea's largest internet portal, dipped 1.94 percent to 227,000 won and Kakao, the operator of the country's dominant mobile messenger, shed 1.64 percent to 54,100 won. The local currency was quoted at 1,367.2 won against the US dollar at 3:30 p.m., sharply up 12.6 won from the previous session. (Yonhap)
Business Recorder
16-07-2025
- Business
- Business Recorder
South Korean shares end nearly 1% lower on US inflation data
SEOUL: Round-up of South Korean financial markets: South Korean shares fell nearly 1% on Wednesday, tracking Wall Street's overnight losses on signs of a tariff impact in U.S. inflation data. The benchmark KOSPI closed down 28.90 points, or 0.90%, at 3,186.38. U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September. 'If effective tariff rates continue to rise, that will add to inflation pressure and weigh on corporate earnings,' said Seo Sang-young, an analyst at Mirae Asset Securities. South Korea's finance minister nominee said he would bring regulatory improvements to the foreign exchange market, according to a media report. South Korean shares close at near four-year high as Samsung Electronics jumps Among index heavyweights, chipmaker Samsung Electronics rose 1.57%, but peer SK Hynix lost 0.84%. Battery maker LG Energy Solution slid 1.74%. Hyundai Motor and sister automaker Kia Corp were down 1.66% and 0.50%, respectively. Steelmaker POSCO Holdings shed 4.83%, while drugmaker Samsung BioLogics rose 0.19%. Securities firms dropped 5.21%, while financial groups fell 2.68%, on profit-taking pressure. Of the total 934 traded issues, 191 shares advanced, while 706 declined. Foreigners were net buyers of shares worth 26.8 billion won ($19.34 million). The won was quoted at 1,385.7 per dollar on the onshore settlement platform, 0.18% higher than its previous close at 1,388.2. In money and debt markets, September futures on three-year treasury bonds were unchanged at 107.18. The most liquid three-year Korean treasury bond yield was flat at 2.463%, while the benchmark 10-year yield rose by 0.9 basis point to 2.884%.
UPI
07-07-2025
- Business
- UPI
Mirae Asset, KB top first-half IPO market in Korea
1 of 2 | The competition between Mirae Asset Securities and KB Securities is expected to get fierce during the remainder of this year. Photo courtesy of Mirae Asset Securities SEOUL, July 7 (UPI) -- Mirae Asset Securities and KB Securities topped South Korea's initial public offering market during the first six months of this year. According to Korea Exchange's first-half data Monday, Mirae Asset Securities was next to none in the deal count, while KB Securities dominated in total offering value. Mirae Asset underwrote a total of nine IPOs, including such major deals as Seoul Guarantee Insurance, the country's only comprehensive guarantee provider. Samsung Securities and Korea Investment & Securities followed with seven deals each, and KB Securities ranked fourth with six. When it comes to total offering amount, however, KB stood out with $919 million, chased by Mirae Asset with $254 million and Samsung Securities with $208 million. To date, Korea's biggest IPO this year was that of LG CNS, which secured about $440 million. Both Mirae Asset and KB helped the LG affiliate go public. Overall, the market was strong this year. The total IPO proceeds rose more than 30% year-on-year to $1.6 billion, compared to $1.2 billion in the first half of 2024. Competition between Mirae Asset and KB is likely to intensify during the second half. Mirae Asset is set to underwrite the IPO of the Pinkfong Co., an entertainment firm, this year. Its market capitalization is projected to be around $1.5 billion. During the virus pandemic, the company's Baby Shark video gained global popularity. It was the most-viewed YouTube clip in 2020 and surpassed 10 billion views by 2022. KB Securities is scheduled to participate in the IPO of Daehan Shipbuilding. The company is predicted to debut with a market capitalization of around $1.18 billion.
Business Recorder
27-06-2025
- Business
- Business Recorder
South Korean shares fall on profit-taking but post fifth weekly gain
SEOUL: Round-up of South Korean financial markets: South Korean shares extended declines for a second session on Friday on profit-booking following a recent rally on post-election policy hopes, but still posted a fifth straight weekly gain. The benchmark KOSPI closed down 23.62 points, or 0.77%, at 3,055.94. For the week, the KOSPI rose 1.1%. It has gained 13.3% so far this month. 'The market fell broadly on profit taking as current stock prices are not cheap in terms of valuation,' said Seo Sang-young, an analyst at Mirae Asset Securities. South Korea's exports likely rebounded in June on the back of strong technology demand, following a decline in May, a Reuters poll showed, though economists remain wary amid uncertainty over U.S. tariff policy. Among index heavyweights, chipmaker Samsung Electronics rose 1.00%, while peer SK Hynix lost 3.07%. Battery maker LG Energy Solution slid 3.03%. Hyundai Motor and sister automaker Kia Corp were down 2.15% and down 1.41%, respectively. Steelmaker POSCO Holdings shed 2.80%, while drugmaker Samsung BioLogics fell 0.30%. South Korean shares decline on profit booking Of the total 935 traded issues, 247 shares advanced, while 661 declined. Foreigners were net sellers of shares worth 855.4 billion won ($630.61 million). The won was quoted at 1,357.4 per dollar on the onshore settlement platform, 0.33% lower than its previous close at 1,352.9. In money and debt markets, September futures on three-year treasury bonds were unchanged at 107.24. The most liquid three-year Korean treasury bond yield rose 0.2 basis point to 2.459%, while the benchmark 10-year yield fell 1.5 bps to 2.786%.
India Gazette
02-06-2025
- Business
- India Gazette
India and China are promising alternatives for investment, says Mirae Asset VC
ANI 02 Jun 2025, 12:10 GMT+10 New Delhi [India], June 2 (ANI): India and China emerge as promising alternatives for investments, said Mirae Asset Securities Vice Chairman Heo Sun-ho while speaking at a global asset allocation forum in Seoul on Thursday, reports Korea Herald. With the return of US President Donald Trump to the Oval Office, crack seems to emerge 'in the US-centered investment landscape'. Speaking at the summit hosted by Mirae Asset, Heo-Sin-ho said the over-dependence on the US as its primary growth engine needs to be re-examined. 'The recent depreciation of the US dollar reflects weakening global confidence, spurred by growing nationalism and ballooning fiscal deficits,' Heo said, urging investors to pivot from a US-centric strategy and realign their portfolios with the shifting global innovation vice chairman mentioned that India is emerging as a vast consumer market, driven by robust digital infrastructure and a rapidly expanding to Heo Sun-ho, 'Innovative technology that once fuelled US growth is no longer its exclusive domain.'He also cited how Chinese AI Startup, DeepSeek positioning itself as a challenger to OpenAI, alongside Chinese automobile company BYD which in April overtook Tesla in the European electric vehicle market for the first to the director and head of Asia Pacific Research at Mirae Asset Hong Kong, policy shifts in China are also creating a more favourable environment for foreign investors. He also echoed the call for a diversified investment South Korean exports to US were down 8.1 per cent for the month of May, as compared to same month last year, weighed down by the US President Donald Trump's tariff, as it took a toll on automobile supplier Foxconn is set to invest USD 1.5 billion in its India unit, Reuters reported, citing a company filing. (ANI)
