SEOUL, Sept. 10 (Korea Bizwire) — Kakao Games, the game developing unit of South Korean mobile giant Kakao, made a strong market debut Thursday, finishing at more than double the initial public offering (IPO) price. Kakao Games closed at 62,400 won (US$53), rising by a daily permissible limit of 30 percent, sharply up from the [...]
SEOUL, Sept. 9 (Korea Bizwire) — South Korean banks’ household loans increased by the largest amount on record in August amid rising home prices and a rally in the stock market, central bank data showed Wednesday. Outstanding bank loans to local households came to 948.2 trillion won (US$796.9 billion) as of end-August, up 11.7 trillion [...]
SEOUL, Sept. 9 (Korea Bizwire) — Electric vehicle leader Tesla Motors Inc. has been South Korean investors’ most-bought issue among foreign shares since July amid an overseas stock buying craze here, data showed Wednesday. Domestic investors bought a net US$1.56 trillion won worth of Tesla shares between July 1 and Tuesday, according to the data [...]
SEOUL, Sept. 7 (Korea Bizwire) — Foreign investors turned net sellers of South Korean stocks in August with their stock ownership hitting a four-year low, the financial regulator said Monday. Offshore investors sold a net 1.07 trillion won (US$900 million) of local shares last month, a turnaround from net buying a month earlier, according to [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korean retail investors have net-bought more than 2 trillion won worth of shares in top-cap Samsung Electronics Co. over the past month amid massive selling by foreigners and institutions, data showed Wednesday. Individual investors’ net purchase of Samsung Electronics traded on the main stock market came to 2.01 [...]
SEOUL, Aug. 31 (Korea Bizwire) — Deposits in South Korean cash management accounts have surged nearly 20 percent this year to reach a fresh record high, industry sources said Monday. The net asset value of cash management accounts offered by local brokerage houses reached 60.4 trillion won (US$51.1 billion) as of Thursday, up from 51.8 [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s new law on peer-to-peer (P2P) lending is expected to help address deceptive practices and better protect consumers, industry watchers said Wednesday. The law, which takes effect Thursday, requires all P2P lenders to have paid-in capital of at least 500 million won (US$421,000) each and register with the [...]
SEOUL, Aug. 25 (Korea Bizwire) — The number of small shareholders in global tech giant Samsung Electronics Co. nearly tripled this year amid massive stock investment by local retail investors, data showed Tuesday. Some 1.45 million investors held a stake of less than 1 percent in the top-cap company as of the end of June, [...]
SEOUL, Aug. 24 (Korea Bizwire) — Despite a recent market seesaw, foreign investment banks have painted a rosy outlook of the South Korean stock market amid signs of improving economic conditions and ample liquidity, sources said Monday. Global investment bank Credit Suisse recently upgraded its outlook for the Korea Composite Stock Price Index (KOSPI) to [...]
SEOUL, Aug. 19 (Korea Bizwire) — South Korean listed companies saw their first-half earnings plunge sharply, data showed Wednesday, due mainly to the fallout of the new coronavirus pandemic. The combined net profit of 690 listed firms on the main KOSPI bourse reached 25.54 trillion won (US$21.6 billion) in the January-June period, down 34 percent [...]