Seoul Shares News

Seoul shares fell in early domestic trade Wednesday, touching a near-three week low as persisting worries about China's economic growth outlook cut appetites for riskier assets. The Korea Composite Stock Price Index (KOSPI) was down 1.2 percent at 1,939.86 points as of 0215 GMT. The index earlier traded as low as 1,938.60, its weakest level since Feb. 20. A sharper-than-expected slowdown in China would likely hurt earnings of major local manufacturers, as the world's second-largest economy is South Korea's biggest exports market. "Investors have yet to shake their concerns about corporate debt default and shadow banking" in China, said E-Trade Investment analyst Choi Kwang-hyeok.

Seoul shares open higher on EU deal; shipbuilders lead According to Reuters, Seoul shares rose at market opening on Monday, poised for a third-straight winning session as investors welcomed an agreement by Eurozone leaders to directly recapitalize the region's troubled banks and ease soaring debt costs in Spain and Italy. Early gains were led by shipyards, as Samsung Heavy Industries climbed 3 percent while Daewoo Shipbuilding & Marine Engineering rose 2.5 percent.

According to a Reuters report, Seoul shares edged down the day after Christmas as holiday celebrations from a string of positive U.S. data were cut short by lingering doubts on the sustainability of a recovery amidst the unresolved debt crisis in Europe. Losses were led by shipbuilders, seen as most sensitive to economic downswings, with Hyundai Heavy Industries losing 2.36 percent while Daewoo Shipbuilding & Marine Engineering dipped 3.88 percent. (Source: Reuters)

Seoul shares finished down 5.7 percent on Friday, their biggest daily percentage loss in five weeks, with foreign investors taking flight as concerns about global economic stagnation deepened, according to a report on Reuters. Hyundai Heavy Industries , the world's top shipyard, ended 8.1 percent lower and Daewoo Shipbuilding & Marine Engineering lost 10.5 percent.

According to a report from Reuters, Seoul shares ended flat on June 3 due to caution ahead of key U.S. data and a holiday here, with falls in technology stocks like LG Electronics weighing, but modest foreign buying and firm gains in shipyards giving the market support.   Source: Reuters

According to a report from Reuters, Seoul shares edged up in volatile trade on March 8 lifted by shipbuilders and financials, but memory chip manufacturers like Samsung Electronics (005930.KS) and steelmakers underperformed.   (Source: Reuters)

According to a Sept 15 report from Reuters, Seoul shares edged up on Wednesday helped by firm gains in shipbuilders such as Hyundai Heavy Industries Co Ltd (009540.KS), but falls in retailers and banks such as Shinhan Financial Group Co Ltd (055550.KS) weighed. The Korea Composite Stock Price Index .KS11 (KOSPI) ended up 0.48 percent at 1,823.88 points. Kim Seong-bong, a market analyst at Samsung Securities told Reuters that the company is seeing a lot of equity redemption by fundholders at the index's current level, and this will pressure the market for some time. (Source: Reuters)

According to an August 9 report from Reuters, Seoul shares rose as investor hopes for further stimulus measures from the U.S. Federal Reserve strengthened ahead of its meeting, with gains in shipyards and banking stocks lifting the index. The Korea Composite Stock Price Index .KS11 (KOSPI) ended up 0.36 percent at 1,790.17 points.. (Source: Reuters)

According to a Reuters report, Seoul shares fell 3.5 percent on July 13, their biggest daily percentage loss in more than four months, amid renewed U.S. financial and earnings worries, while North Korea-related news added pressure. The Korea Composite Stock Price Index (KOSPI) finished down 3.53 percent at 1,378.12 points, its biggest daily percentage decline since a 4.16 pct fall on March 2. (Source: Reuters)

According to a Feb 20 Reuters report, Seoul shares fell 3.7 percent on Friday, posting their weakest close in more than two months, with the sliding won raising worries about higher funding costs, and shipbuilders sank on fears about possible contract cancellation. (Source: Reuters)

Seoul shares closed 2.3 percent up earlier this week, their biggest daily percentage gain in three weeks, as STX Shipbuilding surged after buying a stake in a Norwegian ship builder, while Apple's strong results boosted tech stocks, according to a Reuters report. STX Shipbuilding Co (067250.KS) surged by the daily limit of 15 percent to $74.17 after it announced the purchase of a 39.2 percent stake in Norway's Aker Yards (AKY.OL) for $800m, a move analysts said underlined its commitment to fast expansion and would bolster networks in Europe. The benchmark Korea Composite Stock Price Index (KOSPI) (.KS11) gained 2.3 percent to 1,947.98, staging a strong rebound a day after slumping 3.4 percent to its lowest close in more than a month.

South Korean stocks hit a fresh closing high Thursday as investors picked up shipbuilding and machinery shares, taking a cue from overnight gains in U.S. markets, analysts said. The South Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.98 points, or 0.94 percent, to 1,615.58. Volume was moderate at 445.7 million shares worth 4.67 trillion won (US$5.03 billion), with winners outpacing losers 544 to 226. Shipbuilders led the gain with top shipyard Hyundai Heavy Industries rising 6.53 percent to 285,500 won. Steel shares gained ground. No. 2 steelmaker Hyundai Steel advanced 2.45 percent to 48,150 won after a local brokerage raised its price estimate for the shares. Tech blue chips traded in negative territory.