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Mon, July 4, 2022 | 08:50

Net outflows of foreign money from stock markets continue in April

Foreigners continued to pull out more money than they brought into Korea's stock markets for the third straight month in April as rising interest rates and uncertainty over the war in Ukraine weighed on investor sentiment, central bank data showed Thursday.

2022-05-12 14:09

Nasdaq falls more than 3% as US inflation data gives little relief to investors

U.S. stocks ended sharply lower Wednesday, with the Nasdaq dropping more than 3 percent and the Dow falling for a fifth straight day after U.S. inflation data did little to ease investors' worries over the outlook for interest rates and the economy. The benchmark SP 500 lost 1.7 percent and is now down 18 percent from its Jan. 3 record closing high.

2022-05-12 09:01

Mirae Asset Global Investments tapped as preferred bidder for IFC Seoul

Mirae Asset Global Investments was tapped as the preferred bidder for the purchase of the International Finance Center (IFC) Seoul, located in the Yeouido financial district. According to local investment banking sources, Toronto-headquartered Brookfield Asset Management ― the current owner of IFC Seoul ― notified the asset management subsidiary of Mirae Asset Financial Group...

Anna J. Park | 2022-05-11 18:46

Luna's fall unnerves Korean crypto investors

Korean crypto investors' fear sentiment is reaching its peak after Terra's flagship stablecoin UST, started dropping its intended $1 peg on Monday, in what is seen by many as a “prelude” to the ongoing collapse of its sister token Luna. Luna is traded at around 12,000 won ($9.40) as of Wednesday 3:20 p.m., according to Korea's largest cryptocurrency exchange Upbit. This is a ...

2022-05-11 17:04

KOSPI fails to bounce back despite new government's inauguration

The benchmark KOSPI plunged again to this year's new low of 2,596.56 points, Tuesday, on the same day as the inauguration of the new government led by President Yoon Suk-yeol. The local stock markets failed to defend against escalating fears of stagflation despite Yoon's deregulatory pledges in the local asset market. Foreign investors' panic selling of local stocks drove the...

2022-05-10 16:53

Koreans increasing deposits in Japanese yen

More Koreans are buying yen as they expect the historically weak Japanese currency to recover its value sometime in the future. The data compiled by five major lenders - KB Kookmin, Shinhan, Hana, Woori and NongHyup - showed that combined deposits in Japanese currency totaled 604.6 billion yen ($4.63 billion) in April, up from 584.3 billion yen in March. The April figure was ...

2022-05-10 16:35

Preference for corporate M&As expected to continue this year

The boom in the nation's mergers and acquisitions (M&A) market seen over the past several years is expected to continue this year, as more than seven out of 10 local corporate leaders were found to have aggressive corporate acquisition plans. According to EY Korea's 2022 CEO Outlook Survey released on Monday - which surveyed 2,000 CEOs of global corporations - 72 percent of t...

Anna J. Park | 2022-05-09 17:02

Companies urge Yoon gov't to bolster Korea's growth potential: survey

Businesses are calling for the incoming Yoon administration to prioritize regaining corporate growth momentum amid the hostile economic market conditions, including rising interest rates, the soaring exchange rate and global supply chain disruptions, a survey showed, Sunday. According to a recent survey of 322 corporations by the Korea Chamber of Commerce & Industry (KCCI), t...

Anna J. Park | 2022-05-08 16:37

KOSPI ends down on overnight declines on Wall Street

Korean stocks pulled back Friday as overnight declines on Wall Street sapped investor sentiment here. This situation heightened fears that the benchmark KOSPI might extend its losses at a time when the U.S. Federal Reserve is scheduled to carry out additional big rate hikes by the end of this year. The main bourse closed at 2,644.51, down 1.23 percent from the previous sessio...

2022-05-06 16:31

REITs attract investors' money amid sluggish stock, bond markets

While both the stock and bond markets have been turning bearish amid stagflation concerns, real estate investment trusts (REITs) are attracting investors' money, according to the Korea Exchange (KRX) on Thursday. The bourse operator's REITs Infra Preferred Balanced Index - where more than 70 percent of the included stocks are REITs - increased by 3.2 percent in April, while t...

Anna J. Park | 2022-05-05 16:32

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