South Korean stocks slid more than 1 percent Tuesday as escalating geopolitical tensions surrounding the Korean Peninsula weakened investors' appetite for risky assets. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 28.4 points, or 1.12 percent, to 2,497.59. Trading volume was slightly heavy at 641.9 million shares worth 8.5 trillion won ($6.4 billion).
The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0906 GMT – KakaoBank’s loan growth…
The initial public offering (IPO) market in Korea is forecast to be robust throughout 2024, as a spate of big-name firms estimated to be worth trillions of won in their respective market capitalization will go public.
Foreign investors snapped up investments in Samsung Electronics last year, net buying more than 16 trillion won ($12.31 billion) worth of shares, buoyed by the expectations of a recovery of the global chip industry. In 2023, foreign investors scooped up a net 16.73 trillion won of shares in Samsung Electronics, the largest amount since related data was compiled from 1999, according to the nation’s sole bourse o.
The Korean stock market is poised to take an upturn next year, driven mainly by the U.S. Federal Reserve’s shift to a dovish monetary policy and widely anticipated multiple rate cuts, according to top analysts of securities firms.