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S. Korean Shares Inch Down Despite Outside Buying Spree

S. Korean Shares Inch Down Despite Outside Buying Spree

SEOUL, Nov. 17 (Korea Bizwire) — South Korean stocks closed slightly lower Friday as institutions and retail investors dumped local stocks offsetting a buying spree by foreign traders. The South Korean won extended its rally against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.8 point, or 0.03 percent, to close [...]

Record High KOSPI Earnings Shed Light on Economic Imbalance

Record High KOSPI Earnings Shed Light on Economic Imbalance

SEOUL, Nov. 17 (Korea Bizwire) – Despite record KOSPI earnings, only a small number of conglomerates have reported significant increases in profits this year. According to reports from the Korea Exchange, the accumulated net earnings of 525 KOSPI-listed companies during the first three quarters were estimated to be around 92.5 trillion won, up 34.2 percent from [...]

Hyundai Motor Q3 Net Dips 16% on China Setback

Hyundai Motor Q3 Net Dips 16% on China Setback

SEOUL, Oct. 26 (Korea Bizwire) – Hyundai Motor Co. said Thursday its third-quarter net profit fell 16 percent, due mainly to sharp declines in China sales amid a diplomatic row over the deployment of a U.S. advanced missile shield system here.  In the July-September quarter, Hyundai Motor’s net profit fell to 939.2 billion won (US$835 million) from 1.12 trillion won a year earlier, the company said in a statement. The number [...]

KB Financial, LG Electronics Most Favored by Foreign Investors This Year

KB Financial, LG Electronics Most Favored by Foreign Investors This Year

SEOUL, Oct. 23 (Korea Bizwire) — KB Financial Group, LG Electronics and Samsung SDI were among the top picks by foreign investors through October, which have enjoyed decent gains far exceeding the market-average returns, industry data showed Sunday. According to the data compiled by market tracker FNGuide, foreign investors have scooped up KB Financial Group [...]

POSCO, LG Chem Shine During Large-Cap Rally

POSCO, LG Chem Shine During Large-Cap Rally

SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year’s stock rally driven by large caps, data showed Thursday. POSCO’s market capitalization stood at 29.1 trillion won (US$25.8 billion) as of Wednesday, ranking fourth among the top 30 companies [...]

Analysts Divided on KOSPI’s Outlook after Downturn

Analysts Divided on KOSPI’s Outlook after Downturn

SEOUL, Aug. 11 (Korea Bizwire) — South Korean analysts are divided over how much the local stock market will drop down the road following a recent downturn sparked by foreign selling and other negatives. Some fear the key price index may sink below the psychologically important 2,300-point level on foreign investors’ massive profit-taking, the so-called [...]