🇰🇷 South Korea · Finance & markets, Energy, Games
93 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…
Weak US jobs data lift October Fed rate-hold bets; bitcoin slips below $86,000
US employment data came in weaker than expected, strengthening expectations the Federal Reserve will hold interest rates at its October meeting, with Kukmin Ilbo putting the odds of a hold at 78 percent. Major cryptocurrencies that had rise…
NC's Aion 2 tops 400,000 concurrent players on global launch day
NC began global service for its MMORPG Aion 2 on 5 October through Steam and its own Purple platform, and the company said peak concurrent players passed 400,000 on the first day. Early access had run from 30 September for five days for buy…
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…
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…
Oil falls as Middle East crude exports recover and G7 releases reserves
Brent crude for December delivery fell 1.89% to $100.32 a barrel and US West Texas Intermediate for November fell 1.84% to $89.43 on October 5, Yonhap reported, as Middle East crude exports increased and G7 countries moved to release emerge…
Aramco CEO says oil system strained, inventory rebuild may take up to two years
Aramco chief executive Amin Nasser said the world oil supply system is already under pressure and that rebuilding depleted inventories could take up to two years, speaking in London on October 5. Nasser estimated that about 3 billion barrel…
President Lee Calls Farmland Solar an Opportunity, Urges Permit Support
President Lee Jae-myung told a cabinet meeting on Oct 6 that South Korea must move toward an “electricity state” with renewable energy, and solar in particular, at its core, and said converting farmland for solar projects could earn several…
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…
Minister: Honam chip complex's 6.3GW power, 650,000t water can be supplied locally
Climate, Energy and Environment Minister Kim Sung-hwan told a National Assembly audit that the Honam semiconductor industrial complex's expected 6.3GW of electricity and 650,000 tonnes of water a day can be supplied from within the region. …