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Korea Herald
6 days ago
- Business
- Korea Herald
Seoul shares spike 1.8% on bargain hunting in defense, energy, IT sectors
South Korean stocks closed sharply higher Monday, driven by bargain hunting and big gains in the defense, energy and IT sectors. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index jumped 52.04 points, or 1.8 percent, to close at 2,946.66. Trade volume was heavy at 718.1 million shares worth 14.3 trillion won ($10.5 billion), with winners outnumbering losers 619 to 278. Retail investors and institutions net purchased 45.4 billion won and 252.9 billion won worth of local shares, respectively, while foreigners unloaded 322.4 billion won. "The Kospi rebounded after only a one-day fall as retail investors moved to purchase shares at bargains," Lee Kyoung-min, an analyst at Daishin Securities, said, noting the tensions in the Middle East will likely have limited impact on the South Korean stock market in the mid-to-long term. On Friday, major US indexes lost ground as Israel's airstrikes on Iranian military and nuclear facilities sapped investors' risk appetite. The Dow Jones Industrial Average lost 1.79 percent, the tech-heavy Nasdaq composite went down 1.3 percent, and the S&P 500 decreased 1.13 percent. In Seoul, major chipmaker SK hynix jumped 5.31 percent to 248,000 won, while its rival Samsung Electronics shed 1.89 percent to 57,200 won. Defense and energy shares were bullish in particular. Hanwha Aerospace gained 2.75 percent to 970,000 won, Hyundai Rotem soared 6.32 percent to 198,600 won, and Hanwha Systems shot up 18.01 percent to 64,200 won. Major nuclear power plant manufacturer Doosan Enerbility surged 9.16 percent to 59,600 won, and HD Hyundai Electric advanced 6.16 percent to 456,500 won. IT shares also gained ground, with top internet portal operator Naver adding 4.49 percent to 209,500 won, and Kakao, the operator of the country's dominant mobile messenger, rising 3.3 percent to 53,200 won. Shipbuilders were also strong, with HD Hyundai Heavy surging 5.03 percent to 449,000 won, and HD Korea Shipbuilding climbing 4.85 percent to 367,500 won. The local currency was quoted at 1,363.8 won against the greenback at 3:30 p.m., up 5.8 won from the previous session. (Yonhap)
Korea Herald
12-06-2025
- Business
- Korea Herald
Seoul shares extend winning streak to 7th day; won sharply up
South Korean stocks closed higher Thursday, extending their winning streak to a seventh session, driven by big gains in the defense and energy sectors The benchmark Korea Composite Stock Price Index rose 12.99 points, or 0.45 percent, to end at 2,920.03. Foreigners briefly turned to net sellers in the middle of the day to lock in profits but ended up purchasing a net 405.7 billion won ($299 million) worth of local shares. Retail investors and institutions unloaded 175.1 billion won and 239.7 billion won, respectively. Trade volume was heavy at 695.5 million shares worth 17 trillion won, with winners outnumbering losers 518 to 374. "The KOSPI maintained its upward momentum thanks to gains in the defense and nuclear power sectors despite uncertainties that led to the mixed performance of global stock markets," Lee Kyoung-min, an analyst at Daishin Securities, said. Lee said fresh geopolitical tensions helped boost the defense and shipbuilding sectors, while the nuclear power plant shares benefited from expectations for more export deals. Overnight, Wall Street closed lower amid heightened security risks in the Middle East as seen in the United States' plan to partially evacuate its embassy in Iraq. In Seoul, defense giant Hanwha Aerospace jumped 5.3 percent to 953,000 won, and Hyundai Rotem soared 5.15 percent to 179,700 won. Hanwha's shipbuilding affiliate Hanwha Ocean also surged 5.79 percent to 84,000 won. Nuclear power plant constructor Doosan Enerbility shot up 6.85 percent to 54,600 won, while KEPCO Engineering and KEPCO Plant Service, both subsidiaries of South Korea's state-run Korea Electric Power, skyrocketed 25.63 percent and 13.93 percent to 89,700 won and 50,300 won, respectively. Leading battery maker LG Energy Solution also escalated 3.93 percent to 304,000 won, and major shipping firm HMM went up 2.22 percent to 23,000 won. In contrast, top-cap tech giant Samsung Electronics went down 0.67 percent to 59,500 won, and its chipmaking rival SK hynix lost 1.88 percent to 235,500 won. The local currency was quoted at 1,358.7 won against the greenback at 3:30 p.m., sharply up by 16.3 won from the previous session. (Yonhap)
Korea Herald
10-06-2025
- Business
- Korea Herald
Foreign inflow fuels Kospi rally
Foreign investors have poured nearly 4 trillion won ($3 billion) into the nation's benchmark Kospi so far this month, helping to drive a strong bullish run in the local stock market. Offshore investors net purchased shares worth 3.78 trillion won on the Kospi through Tuesday in June, continuing the 1.16 trillion won buying spree that began in May, according to data from the Korea Exchange, the nation's bourse operator. While they net bought shares worth 125 billion won on June 2, the amount surged on June 4, a day after the country's presidential election, to 1.05 trillion won, followed by a 980 billion won net purchase on June 5. On Monday and Tuesday, foreigners net bought shares amounting to 977 billion won and 634 billion won on the Kospi, respectively. The rally pushed the index to close daytime trading at 2871.85 on Tuesday, up 16.08 points or 0.56 percent, from the previous session. During intraday trading, the Kospi surged to as high as 2,885.67, nearing the 52-week high set at 2,896.43 on July 11 last year. The buying momentum has been partly fueled by growing expectations of political stability and reform following President Lee Jae-myung's election victory last week. 'With the inauguration of the Lee Jae-myung administration, expectations for revisions to the Commercial Act and efforts to address the 'Korea Discount' have stimulated foreign investor inflows,' said Lee Kyoung-min, an analyst at Daishin Securities. 'Protection of minority shareholder rights and improvements in corporate governance — longstanding demands from global investors — remain key themes. Foreign investment flows into the Korean stock market have clearly improved against this backdrop of policy-driven optimism and attractive valuations.' Backed by the rally, the Kospi has emerged as the best-performing major stock market worldwide over the past week, outpacing key global indices such as Hong Kong's Hang Seng, Denmark's OMX Copenhagen 25 and Japan's Nikkei 225, according to a list compiled by financial platform While not exhaustive, the list features selected stock indices of significant size and market value. Year-to-date, the Kospi has risen 19.36 percent, ranking as the eighth-best performer globally. It trails Poland's WIG 20 index, the top performer so far this year, which has surged 24.67 percent, placing the Kospi roughly five percentage points behind. Among the indices that function as comprehensive market indices that reflect the overall performance of their respective national stock markets, the Kospi ranked behind only those of Russia, Germany, Austria and Hong Kong. The others, such as the WIG 20, were composed of a limited number of selected large-cap companies.
Korea Herald
10-06-2025
- Business
- Korea Herald
Seoul shares up for 5th straight session on foreign buying
South Korean stocks extended their winning streak to a fifth consecutive session Tuesday on the back of foreign buying, with investors' eyes now on the ongoing trade talks between the United States and China. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index added 16.08 points, or 0.56 percent, to close at 2,871.85. Trade volume was moderate at 503 million shares worth 14 trillion won ($10.3 billion), with losers outnumbering winners 461 to 429. Foreign investors and institutions net purchased 632.3 billion won and 14.2 billion won worth of local shares, respectively, while retail investors dumped 626.9 billion won. "The KOSPI once surpassed the 2,880 mark earlier in the day thanks to a fifth consecutive session of foreign purchases, but trimmed earlier gains as retail investors moved to take profit following the recent rally," Lee Kyoung-min, an analyst at Daishin Securities, said. Overnight, Wall Street was little changed as investors took to the sidelines before the conclusion of the ongoing trade negotiations between the US and China. The Dow Jones Industrial Average and the S&P 500 closed nearly flat, while the tech-heavy Nasdaq composite rose 0.31 percent. Officials from Washington and Beijing were set to hold the second, and possibly the last, day of their ongoing trade negotiations in London later Tuesday. In Seoul, defense and shipbuilding shares were the biggest gainers. Leading defense firm Hanwha Aerospace jumped 6.36 percent to 936,000 won, and its shipbuilding affiliate Hanwha Ocean soared 4.37 percent to 78,900 won. Other major shipbuilders, HD Hyundai Heavy and HD Korea Shipbuilding, advanced 2.15 percent and 4.35 percent to 427,000 won and 335,500 won, respectively. Top battery maker LG Energy Solution rose 1.23 percent to 288,500 won, and biotech firm Celltrion added 1.25 percent to 162,200 won. Market heavyweight Samsung Electronics lost 1 percent to 59,200 won, while its chipmaking rival SK hynix gained 0.66 percent to 230,500 won. Auto giant Hyundai Motor dropped 0.4 percent to 197,000 won, and its sister Kia went down 0.84 percent to 94,500 won. The local currency was quoted at 1,364.3 won against the greenback at 3:30 p.m., down 7.9 won from the previous session. (Yonhap)
Korea Herald
10-06-2025
- Business
- Korea Herald
Foreign investors fuel Kospi rally with $2.2b buying spree
Foreign investors have poured roughly 3 trillion won ($2.2 billion) into the nation's benchmark Kospi so far this month, helping to drive a strong bullish run in the local stock market. Offshore investors net purchased shares worth 3.14 trillion won on the Kospi through Monday, continuing the buying spree that began in May, according to data from the Korea Exchange, the nation's bourse operator. In May, foreign investors net bought 1.16 trillion won worth of Kospi shares, turning to buying for the first time since August 2024. The rally continued on Tuesday, with foreign investors purchasing an additional 390 billion won worth of shares on the Kospi as of 2 p.m., pushing the index to 2,867.62 — up 11.85 points, or 0.41 percent, from the previous session. The buying momentum has been partly fueled by growing expectations of political stability and reform following President Lee Jae-myung's election victory last week. 'With the inauguration of the Lee Jae-myung administration, expectations for revisions to the Commercial Act and efforts to address the 'Korea Discount' have stimulated foreign investor inflows,' said Lee Kyoung-min, an analyst at Daishin Securities. 'Protection of minority shareholder rights and improvements in corporate governance — longstanding demands from global investors — remain key themes. Foreign investment flows into the Korean stock market have clearly improved against this backdrop of policy-driven optimism and attractive valuations.' Amid the offshore buying spree, shares of market bellwether Samsung Electronics rose as high as 60,400 won during intraday trading on Monday, surpassing the 60,000 won threshold for the first time since March 28. The stock later pared its gains, trading at 59,250 won as of 2 p.m. Tuesday. The Kospi has emerged as the best-performing major stock market worldwide over the past week, outpacing key global indices such as Hong Kong's Hang Seng, Denmark's OMX Copenhagen 25, and Japan's Nikkei 225, according to a list of major world market indices compiled by financial platform While not exhaustive, the list features selected stock indices of significant size and market value. Year-to-date, the Kospi has risen 19.36 percent, ranking as the eighth-best performer globally. It trails Poland's WIG 20 index — the top performer so far this year — which has surged 24.67 percent, placing the Kospi roughly five percentage points behind.
