🇰🇷 South Korea · Finance & markets, Consumer
64 storiesNew York stocks close higher; S&P 500 and Nasdaq hit record highs
New York's main stock indices closed higher, with Kukmin Ilbo reporting SpaceX up 7.62% and Asia Economy noting the rise came even as the 10-year US Treasury yield renewed a high. In the following US session, Chosun Ilbo reported the S&P 50…
Court suspends Korea Exchange delisting decisions over market-cap rules
A Seoul court on Oct 2 granted injunctions suspending the Korea Exchange's delisting decisions against KOSPI-listed Joo Yeon Tech and KOSDAQ-listed KM Pharma. The court questioned the rule requiring a company to stay above the market-cap th…
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…
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…
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…
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…
Youth Future Savings Account second round opens Oct 7 with up to 19.4% effective rate
The second round of applications for South Korea's Youth Future Savings Account runs from Oct 7 to Oct 16, with the first two days split by odd and even birth years, the Financial Services Commission and the Korea Inclusive Finance Agency s…
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…
Baskin Robbins to raise prices of 46 products by average 5.9% from Oct. 12
Baskin Robbins said on Oct. 6 it will raise prices of 46 products — 16 ice creams and 30 beverages and others — by an average 5.9% starting Oct. 12. A “Single Regular” ice cream goes from 3,900 to 4,300 won and a “Quart” from 18,500 to 19,9…
Single Seoul apartment unit draws 68,663 applicants on near-1-billion-won gap
One 84㎡ unit at the 강변역 센트럴 아이파크 complex in Guui-dong, Gwangjin-gu, Seoul drew 68,663 applications when it was offered on Oct 6, Newsis and Seoul Economic Daily reported, both citing the Korea Real Estate Board's Cheongyak Home portal. The …
Korea Consumer Agency finds carbon running shoes differ by model in tests
South Korea's Korea Consumer Agency published test results on October 6 for carbon running shoes from seven brands, finding differences in shock absorption, knee fatigue and durability. Nike and Puma models rated relatively well on shock ab…
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…
GS샵 and Lotte Home Shopping launch major autumn discount events
GS샵 said it will hold its largest second-half shopping event, 판타지에스, from October 11 to 25, with 7% off all products, a promotional video featuring comedian Park Myung-soo and a 30-brand lineup on its TV channel. Rival Lotte Home Shopping w…