🇰🇷 South Korea · Finance & markets, Autos · 3 days
58 storiesS&P 500 closes above 7,800 for first time; Nasdaq also at record
New York's three main indices closed higher on Oct 6, with the S&P 500 ending above 7,800 for the first time at 7,818.93 and the Nasdaq Composite at a record 27,599.79. Korean outlets attributed the gains to third-quarter earnings expectati…
Korean court suspends market-cap delisting decisions; exchange halts two more exits
Seoul Southern District Court Civil Division 51 granted injunctions on Oct 2 suspending the Korea Exchange's delisting decisions against KOSPI-listed Joo Yeon Tech and KOSDAQ-listed KM Pharma until a main ruling. The court questioned the 45…
Ark's Cathie Wood Repeats $1.5 Million Bitcoin Forecast for 2030
Ark Invest CEO Cathie Wood has reiterated a forecast that bitcoin will reach $1.5 million by 2030, about 1665% above the roughly $85,000 level where the reports say it was trading. Wood points to institutional inflows, a more favourable US …
Nasdaq closes at record high as AI stocks rally despite rising Treasury yields
US stocks rose on October 5 local time, with the Nasdaq Composite closing at a record high as technology and AI-related shares gained despite rising Treasury yields. Yonhap reported the Dow rose 0.18% to 51,267.90 and the S&P 500 gained 0.6…
Nvidia sets second straight record close; Korean AI supply chain shares rally
Nvidia closed 2.1% higher at $238.90 on October 5 in New York, a second consecutive record close, lifting its market capitalisation to about $5.76 trillion and putting the first $6 trillion valuation within reach. Korean outlets also report…
Tesla leads Korea's imported car sales for eighth month as EV share tops half
Tesla sold 12,372 imported passenger cars in South Korea in September, its eighth consecutive month in first place among import brands, according to Korea Automobile Importers and Distributors Association (KAIDA) data. Total imported passen…
Musk regains trillionaire status as SpaceX shares jump 7.63%
SpaceX shares closed 7.63% higher at $171.09 on Oct. 5, their highest level in about three months, after Morgan Stanley set a $300 target price. Forbes put Elon Musk's net worth at $1.046 trillion (about 1,400 trillion won), returning him t…
Wall Street banks start selling $60bn Anthropic AI-chip loan, FT reports
Bank of America, Citigroup and Morgan Stanley have begun selling part of a $60bn loan that funds Anthropic's leasing of Google tensor processing units, according to the Financial Times, as reported by Yonhap. The sale is described as the la…
New York comptroller projects Wall Street profits above $90bn, record bonuses
New York State Comptroller Thomas DiNapoli estimated the state's securities industry will earn more than $90 billion (about 120 trillion won) this year, up from $65.1 billion last year, and that Wall Street bonuses will rise again to a reco…
Tesla nears 100,000 Korea imports as BYD passes 20,000
Imported passenger car registrations in South Korea rose 6.3% year on year in September to 34,904 units, with year-to-date registrations up 24.1% to 279,729, according to the Korea Automobile Importers and Distributors Association (KAIDA). …
Second National Growth Fund round sells 316.2 bln won in four days, 52.7% of target
The second round of South Korea's state-backed National Participation National Growth Fund sold 316.2 billion won in its first four days, 52.7% of its 600 billion won target, the Financial Services Commission said. The remaining 283.43 bill…
Rival parties clash at Seoul audit over single-stock leveraged ETF losses
Ruling and opposition lawmakers clashed at the National Assembly's Strategy and Finance Committee audit of the finance ministry on October 6 over single-stock leveraged ETFs and related documents. The opposition demanded presidential office…
New York stocks open mixed as 10-year Treasury yield holds near 5.3%
New York's main stock indices opened mixed on October 5, with the Dow Jones Industrial Average down about 0.27% as the 10-year US Treasury yield held around 5.3%, a level Asia Economy described as the highest in several years. The S&P 500 a…
Korea's financial investment association joins IIFA board talks in Toronto, plans Japan MOU
The Korea Financial Investment Association said it is attending the 39th annual meeting of the International Investment Funds Association (IIFA) in Toronto from October 5 as a board member, discussing international regulatory cooperation an…
Kospi slips below 7,000 after holiday open; Kosdaq gains about 2%
South Korea's Kospi opened at 7,044.67 on Oct. 6, up 40.93 points (0.58%), the first session after the Gaecheonjeol holiday, and the Kosdaq opened at 902.16, up 8.87 points (0.99%). The Kospi gave back the gain within minutes and was at 6,9…
KOSDAQ closes at 919.92, up 2.98%, led by Jusung Engineering and biotech
The KOSDAQ closed at 919.92 on October 6, up 26.63 points, or 2.98%, after opening at 902.16, according to Yonhap, Asia Economy, Maeil Business and Chosun Ilbo. Jusung Engineering gained roughly 15% to 17% during the session; Asia Economy a…
Korea's crypto economy put at $449.1bn, largest in East Asia, Chainalysis says
Chainalysis estimates South Korea's crypto economy at $449.1 billion (about 604 trillion won) for the year to June, up 12.3% from a year earlier and the largest in East Asia, ahead of Japan's $228.3 billion. Activity on domestic exchanges r…
Korea Securities Finance issues first $300m foreign-currency global bond
Korea Securities Finance Corporation said it issued a $300m three-year dollar global bond, its first foreign-currency bond since its founding in 1955 and, according to the company, the first public global bond by any securities finance comp…
Won closes at 1,343.6 per dollar, down 0.4 won
The won closed at 1,343.6 per dollar on Oct. 6, down 0.4 won from the previous session, according to the 15:30 reference rate reported by Yonhap, Chosun Ilbo and Newsis. In morning trading the rate stood at 1,344 won, down 6.6 won (0.48%) f…
Japan raises 10-year bond coupon to 3.1%, highest since 1996
Japan's Ministry of Finance set the coupon rate on the 10-year government bonds it issues this month at 3.1%, up from 2.7%, the highest level since August 1996, according to Yonhap, Asia Economy and Korea Economic Daily. The ministry review…