SEOUL, Nov. 8 (Korea Bizwire) – CJ Cheiljedang Corp., South Korea’s leading food manufacturer, said Wednesday its net profit rose 17.6 percent in the third quarter from a year earlier on the back of brisk sales of its processed food products. Net income came to 263 billion won (US$236 million) on a consolidated basis in [...]
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 [...]
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 [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s benchmark stock index is expected to break above 2,500 points by the end of this year, in what would be another milestone for the Korea Composite Stock Price Index (KOSPI), analysts said Friday. The KOSPI closed at an all-time high of 2,484.37 points earlier this week and [...]
SEOUL, Oct. 11 (Korea Bizwire) – South Korea’s main stock index hit a record high on Wednesday, buoyed by strong buying by foreign investors, while Samsung Electronics rallied ahead of its earnings release. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.35 points, or 1 percent, [...]
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 [...]
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 [...]
SEOUL, Jul. 26 (Korea Bizwire) — The rate of return for equity funds of Samsung Electronics Co. and other Samsung Group-related firms exceeded 30 percent this year amid the bullish market backed by solid corporate earnings and the global economic recovery, industry data showed Wednesday. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.40 [...]
SEOUL, July 13 (Korea Bizwire) – South Korea’s main bourse closed at an all-time record high Thursday, with local analysts forecasting the market to maintain its current growth momentum moving forward on the strength of technology shares. The assessment comes as the country’s benchmark Korea Composite Stock Price Index (KOSPI) soared 17.72 points, or 0.74 [...]
SEOUL, Jul. 13 (Korea Bizwire) — Samsung Electronics Co.’s market cap has grown to exceed that of the entire secondary bourse and more than make up for the company’s erased stocks this year, data showed Thursday. The market cap of the tech firm as of the end of trading Wednesday was 362 trillion won (US$316.7 [...]