Latest news with #KoreaCompositeStockPriceIndex
Korea Herald
a day ago
- Business
- Korea Herald
Seoul shares fall nearly 1% on profit taking, US tariff uncertainty
South Korean stocks finished lower Friday, as investors moved to lock in profits from recent sharp gains amid legal uncertainties surrounding the United States' tariff policies. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 22.97 points, or 0.84 percent, to close at 2,697.67, ending a two-day winning streak. Trade volume was heavy at 513.39 million shares worth 14.08 trillion won ($10.21 billion), with losers beating winners 487 to 394. Institutions and foreign investors sold a net 16.49 billion won and 608.1 billion won worth of stocks, respectively, while individuals bought 602.02 billion won worth of shares. The market opened a tad lower, one day after the index surged to a 10-month high on marked gains of tech shares, and extended losses further as investors assessed the developments of legal battles in the US surrounding US President Donald Trump's sweeping tariff scheme. On Thursday (US time), a US federal appeals court temporarily reinstated the tariff policy, just one day after a trade court had blocked them. "It may take about a year until the appellate ruling and the final decision by the U.S. Supreme Court. Apart from legal issues, the Trump government has various other means to impose tariffs," Han Ji-young, a researcher at Kiwoom Securities, said. The key stock index rose 4.01 percent from a week ago. Top-cap shares traded mixed. Market bellwether Samsung Electronics edged up 0.18 percent to 56,200 won, and its rival SK hynix sank 3.54 percent to 204,500 won. Major battery maker LG Energy Solution lost 0.69 percent to 286,000 won, and No. 1 steelmaker Posco Holdings lost 1.77 percent to 250,000 won. Defense giant Hanwha Aerospace dipped 5.37 percent to 811,000 won, while leading financial firm KB Financial advanced 1.56 percent to 104,300 won. Carmakers fell. Top carmaker Hyundai Motor declined 2.98 percent to 185,300 won, and its sister Kia Motors nosedived 4.08 percent to 89,400 won. But bio shares gathered ground. Leading biotech firm Samsung Biologics rose 0.58 percent to 1.03 million won, and Celltrion jumped 1.45 percent to 161,000 won. The local currency was quoted at 1,380.1 won against the greenback at 3:30 p.m., down 4.2 won from the previous session. Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.6 basis point to 2.347 percent, and the return on the benchmark five-year government bonds climbed 2.1 basis points to 2.521 percent.
Korea Herald
3 days ago
- Automotive
- Korea Herald
Seoul shares rise to 10-month high on tech rally
South Korean stocks finished markedly higher to hit a 10-month high Thursday, driven by gains in tech shares, following strong earnings from US chip giant Nvidia Corp. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 50.49 points, or 1.89 percent, to close at 2,720.64. It marked the highest level since Aug. 2, when the index finished at 2,725.02. Trade volume was moderate at 444.45 million shares worth 10.79 trillion won ($7.8 billion), with winners beating losers 749 to 151. Institutions and foreign investors bought a net 684.56 billion won and 290.27 billion won worth of stocks, respectively. Individuals sold 996.99 billion won worth of shares. The KOSPI got a boost from Nvidia's earnings results. It reported a 69 percent on-year increase in revenue, reaching US$44.1 billion for the February-April period, analysts said. "With the vast majority of US President Donald Trump's global tariffs blocked by the US trade court, institutional and foreign buying pushed up the benchmark index," Lee Jae-won, an analyst at Shinhan Securities Co., said. In Seoul, tech and auto stocks led the rally. Market heavyweight Samsung Electronics rose 0.36 percent to 56,100 won, while chip giant SK hynix jumped 1.92 percent to 212,000 won. Top carmaker Hyundai Motor gained 2.74 percent to 191,000 won, its smaller affiliate Kia rose 4.72 percent to 93,200 won and leading shipbuilder HD Hyundai jumped 11.26 percent to 108,700 won. Among decliners, leading battery maker LG Energy Solution fell 0.35 percent to 288,000 won and state-run utility Korea Electric Power Corp. shed 2.48 percent to 29,550 won. The local currency was quoted at 1,375.9 won against the greenback at 3:30 p.m., up 0.6 won from the previous session. (Yonhap)
Japan Today
3 days ago
- Business
- Japan Today
Markets welcome court ruling against Trump's tariffs as shares, U.S. dollar and oil gain
The screens show the Korea Composite Stock Price Index (KOSPI), left, the foreign exchange rate between U.S. dollar and South Korean won, center, and the Korean Securities Dealers Automated Quotations (KOSDAQ) are seen at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 28, 2025. (AP Photo/Lee Jin-man) By ELAINE KURTENBACH Financial markets welcomed a U.S. court ruling that blocks President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. U.S. futures jumped early Thursday and oil prices rose more than $1. The U.S. dollar rose against the yen and euro. The court found the 1977 International Emergency Economic Powers Act, which Trump has cited as his basis for ordering massive increases in import duties, does not authorize the use of tariffs. The White House immediately appealed and it was unclear if Trump would abide by the ruling in the interim. The long term outcome of legal disputes over tariffs remains uncertain. But investors appeared to take heart after the months of turmoil brought on by Trump's trade war. The future for the S&P 500 was up 1.7% while that for the Dow Jones Industrial Average gained 1.4%. Japan's Nikkei 225 index jumped 1.9% to 38,442.10. American's largest ally in Asia has been appealing to Trump to cancel the tariffs he has ordered on imports from Japan and to also stop 25% tariffs on steel, aluminum and autos. The ruling also pushed the dollar sharply higher against the Japanese yen. It was trading at 145.98 yen early Thursday, up from 144.87 yen late Wednesday. A three-judge panel ruled on several lawsuits arguing Trump exceeded his authority, casting doubt on trade policies that have jolted global financial markets, frustrated trade partners and raised uncertainty over the outlook for inflation and the global economy. Many of Trump's double-digit tariff hikes are paused for up to 90 days to allow time for trade negotiations, but the uncertainty they cast over global commerce has stymied businesses and left consumers wary about what lies ahead. 'Just when traders thought they'd seen every twist in the tariff saga, the gavel dropped like a lightning bolt over the Pacific,' Stephen Innes of SPI Asset Management said in a commentary. The ruling was, at the least, 'a brief respite before the next thunderclap,' he said. Elsewhere in Asia, Hong Kong's Hang Seng added 1% to 23,482.81, while the Shanghai Composite index gained 0.8% to 3,365.40. Australia's S&P/ASX 200 gained 0.1% to 8,409.70. In South Korea, which like Japan relies heavily on exports to the U.S., the Kospi surged 1.8% to 2,709.42. Shares also were helped by the Bank of Korea's decision to cut its key interest rate to 2.5% from 2.75%, to ease pressure on the economy. Taiwan's Taiex edged 0.1% lower, and India's Sensex was also down 0.1%. On Wednesday, U.S. stocks cooled, with the S&P 500 down 0.6% but still within 4.2% of its record after charging higher amid hopes that the worst of the turmoil caused by Trump's trade war may have passed. It had been roughly 20% below the mark last month. The Dow industrials lost 0.6% and the Nasdaq composite fell 0.5%. Trading was relatively quiet ahead of a quarterly earnings release for Nvidia, which came after markets closed. The bellwether for artificial intelligence overcame a wave of tariff-driven turbulence to deliver another quarter of robust growth thanks to feverish demand for its high-powered chips that are making computers seem more human. Nvidia's shares jumped 6.6% in afterhours trading. Like Nvidia, Macy's stock also swung up and down through much of the day, even though it reported milder drops in revenue and profit for the latest quarter than analysts expected. Its stock ended the day down 0.3%. The bond market showed relatively little reaction after the Federal Reserve released the minutes from its latest meeting earlier this month, when it left its benchmark lending rate alone for the third straight time. The central bank has been holding off on cuts to interest rates, which would give the economy a boost, amid worries about inflation staying higher than hoped because of Trump's sweeping tariffs. In other dealings early Thursday, the yield on the 10-year Treasury rose to 4.52% from 4.47% late Wednesday. U.S. benchmark crude oil gained $1.06 to $62.90 per barrel. Brent crude, the international standard, added $1.01 to $65.33 per barrel. The euro slipped to $1.1242 from $1.1292. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Korea Herald
3 days ago
- Automotive
- Korea Herald
Seoul shares open higher after robust Nvidia earnings
South Korean stocks opened higher Thursday, defying overnight losses on Wall Street, as technology shares were fueled by robust earnings from US chip giant Nvidia Corp. The benchmark Korea Composite Stock Price Index rose 22.59 points, or 0.85 percent, to 2,692.74 in the first 15 minutes of trading. US stocks closed lower overnight ahead of Nvidia's highly anticipated earnings release. The Dow Jones Industrial Average declined 0.58 percent, and the tech-heavy Nasdaq Composite shed 0.51 percent. Nvidia reported a 69 percent on-year increase in revenue, reaching $44.1 billion for the February–April period. It also projected second-quarter revenue of around $45 billion, slightly higher than the previous quarter. In Seoul, tech, automotive and shipbuilding stocks led gains. Market bellwether Samsung Electronics rose 0.54 percent, and chip giant SK hynix jumped 2.16 percent. Top carmaker Hyundai Motor climbed 0.65 percent, its smaller affiliate Kia rose 1.57 percent, and leading shipbuilder HD Hyundai jumped 10.24 percent. Among decliners, leading battery maker LG Energy Solution fell 1.73 percent, and leading refiner SK Innovation edged down 0.12 percent. The local currency was trading at 1,379.95 won against the greenback at 9:15 a.m., down 3.45 won from the previous session. (Yonhap)
Korea Herald
4 days ago
- Automotive
- Korea Herald
Seoul shares rise to 3-month high on tech gains, US rallies
South Korean stocks finished markedly higher to hit a three-month high Wednesday, driven by gains in tech shares, as the United States' temporary pause on tariffs against the European Union boosted investor appetite for risky assets. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 32.93 points, or 1.25 percent, to close at 2,670.15. It marked the highest level since Feb. 19, when the index finished at 2,671.52. Trade volume was moderate at 403.25 million shares worth 11.16 trillion won ($8.11 billion), with winners beating losers 579 to 308. Institutions and foreign investors bought a net 742.55 billion won and 303.47 billion won worth of stocks, respectively, while individuals sold 990.77 billion won worth of shares. The index opened higher, tracking overnight gains on Wall Street, and extended gains further as investors welcomed news that US President Donald Trump said he would delay imposing 50 percent tariffs on imports from the EU until July 9. On Tuesday (US time), the Dow Jones Industrial Average surged 1.78 percent, while the tech-heavy Nasdaq Composite soared 2.47 percent. "Market conditions have improved recently, but the rebound in such oversold sectors as semiconductors and batteries has been limited amid lingering uncertainties regarding US tariffs and other issues," said Kim Soo-yeon, a researcher at Hanwha Investment & Securities. "Determining when to increase market exposure will be a crucial issue for investors for the remainder of the year," she added. Tech shares led the upturn of the index. Market bellwether Samsung Electronics surged 3.71 percent to 55,900 won, and its rival SK hynix soared 2.72 percent to 208,000 won. Major battery maker LG Energy Solution spiked 6.06 percent to 289,000 won, while No. 2 battery maker Samsung SDI jumped 8.68 percent to 174,100 won. Top carmaker Hyundai Motor climbed 2.2 percent to 185,900 won, and its sister Kia Motors went up 0.91 percent to 89,000 won. Leading biotech firm Samsung Biologics edged up 0.19 percent to 1.03 million won, and Celltrion rose 0.26 percent to 156,000 won. No. 1 steelmaker POSCO Holdings advanced 5.27 percent to 249,500 won, while top online portal operator Naver gained 2.12 percent to 187,700 won. But defense giant Hanwha Aerospace sank 6.2 percent to 832,000 won, while leading financial firm KB Financial lost 0.88 percent to 101,000 won. The local currency was quoted at 1,376.5 won against the greenback at 3:30 p.m., down 7 won from the previous session. (Yonhap)
