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Sat, December 3, 2022 | 14:39

Seoul's stocks down, currency dips to over 13-yr low following Fed's rate hike

Seoul's stocks down, currency dips to over 13-yr low following Fed's rate hike

Korean stocks closed down on Thursday, as investors were spooked by growing worries over a global economic recession following the U.S. Federal Reserve's sharp rate hike decision. The Korean won fell to a 13-year low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 14.9 points, or 0.63 percent, and closed at 2,332.31. Trading volume was li...

2022-09-22 20:23

Won-dollar rate soars to 1,409.7 on Fed rate hike

Won-dollar rate soars to 1,409.7 on Fed rate hike

The Korean won to U.S. dollar exchange rate soared above the 1,400 level for the first time in more than 13 years on Thursday in the wake of the U.S. Federal Reserve's overnight hike of its key interest rate by 75 basis points for the third straight time in a desperate bid to fight inflation. With the U.S. Fed's hawkish attempt to curb inflation, the won-dollar exchange rate ...

Anna J. Park | 2022-09-22 17:08

Won's tumble darkens outlooks for economy

Won's tumble darkens outlooks for economy

A recent accelerating slide in the local currency against the U.S. dollar is feared to aggravate uncertainty over the Korean economy already struggling in the face of galloping inflation, high borrowing costs and worries over slowing growth, observers said Thursday.

2022-09-22 13:57

Won hits over 13-year low against dollar after Fed's rate hike

Seoul's stocks open over 1% lower after Fed's sharp rate hike

Seoul's stocks open over 1% lower after Fed's sharp rate hike

Korean stocks opened more than 1 percent lower on Thursday as worries over a global recession mounted after the U.S. Federal Reserve delivered another sharp rate hike to tame runaway inflation.

2022-09-22 10:20

Fed attacks inflation with another big hike and expects more

Won hits over 13-year low against dollar after Fed's rate hike

Won hits over 13-year low against dollar after Fed's rate hike

The Korean currency on Thursday sank below the 1,400 mark against the U.S. dollar for the first time in more than 13 years as the Federal Reserve delivered another sharp rate hike and signaled further large increases.

2022-09-22 09:30

Fed's rate hike to amplify market volatility for time being: finance minister

Fed's rate hike to amplify market volatility for time being: finance minister

Korea plans to implement steps to stabilize the market in a timely manner as the U.S. Federal Reserve's latest sharp rate hike could amplify market volatility and raise economic uncertainty for some time, the finance minister said Thursday.

2022-09-22 08:46

Fed attacks inflation with another big hike and expects more

Seoul stocks dip almost 1% on growing woes over Fed rate hikes

Seoul stocks dip almost 1% on growing woes over Fed rate hikes

Korean stocks slipped back into negative territory again Wednesday, as investors took to the sidelines ahead of a widely expected sharp rate hike by the Federal Reserve. The Korean won fell against the dollar.

2022-09-21 16:47

Seoul apartment transactions fall to record low amid monetary uncertainty

Seoul apartment transactions fall to record low amid monetary uncertainty

The sales volume of apartments in Seoul is expected to fall to another record low in August, amid prolonged market doldrums sparked by the rapid pace of interest rate hikes and freezing consumer sentiment. According to data from the Seoul Metropolitan Government, the figure came in at 643 in July, the lowest since the authority started compiling related data in 2006. Data for...

Lee Min-hyung | 2022-09-20 09:27

Seoul shares hit over 2-month low on prospect of another aggressive rate hike by US Fed

Seoul shares hit over 2-month low on prospect of another aggressive rate hike by US Fed

Korean stocks dipped by more than 1 percent on Monday to extend their losing streak to a fourth day as market sentiment was dampened by the prospect of another sharp rate hike this week by the U.S. Fed.

2022-09-19 17:11

HYBE's stock price on rollercoaster ride due to BTS' military exemption issue

HYBE's stock price on rollercoaster ride due to BTS' military exemption issue

The stock price of HYBE - the management company of K-pop behemoth BTS - rose by 2.27 percent on Monday, ending a losing streak lasting three consecutive sessions, following the release of a public survey that approved the group members' exemption from mandatory military service. The stock price went up as high as 164,000 won at 9:10 a.m. Monday, just 10 minutes after trading...

Anna J. Park | 2022-09-19 16:48

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