^KOSDAQ

Market Chatter: South Korean AI Chip Firm DeepX Eyes 2026 IPO, May List in the US

South Korean on-device AI chip company DeepX is planning an initial public offering (IPO) after concluding its ongoing funding round ​in the ​first ⁠half of 2026, Reuters reported Wednesday.DeepX plans to appoint banks for its IPO, and may also seek a US listing after its domestic listing, according to Reuters.DeepX makes semiconductor chips that run AI tasks on devices, and has partnered with companies such as Hyundai Motor (KRX:005380) and Baidu (HKG:9888), the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

IMF Lowers 2026 Growth Outlook for Most Asian Economies Amid Middle East War

The International Monetary Fund has lowered its growth estimates for most Asian economies for 2026, according to a recent release.The organization revised down its growth outlook for emerging Asian economies to 4.9% from a previous prospect of 5% in January, which was before the start of the conflict in the Middle East.Growth for the group will continue to decline to 4.8% in 2027, the IMF said.The organization projects China's economy growing 4.4% this year and 4% next year, while India will post growth of 6.5% for the next two years.Cumulative growth among Southeast Asia's five biggest economies, including Indonesia, Malaysia, the Philippines, Singapore, and Thailand, will fall to 3.7% in 2026 from 4.9%, although this will recover to 4.7% next year, the organization said.Individually, Vietnam will post the strongest growth of 7.1%, although this is still lower than the 8% growth last year.The rest of the economies in the group will also see lower growth, with Indonesia at 5%, Malaysia at 4.7%, the Philippines at 4.1%, and Thailand at 1.5%.Among advanced economies in Asia-Pacific, Korea's growth will rise to 1.9% from 1% last year, while that of Australia will remain flat at 2%.Japan's growth will slow down to 0.7% in 2026 and 0.6% in 2027 from 1.2% last year, according to the IMF.Taiwan will see lower expansion of 5.2% from 8.7% in 2025, while Singapore's growth will come to 3.5%, down from 5% last year.Hong Kong will also observe lower growth of 2.4%, compared to 3.5% in 2025.The IMF forecasts global economic growth to weaken to 3.1% this year from 3.4% last year, accounting for the impacts of the continued conflict in the Middle East.

South Korean Imports Soar in March on Iran War Cost Pressures

South Korea's import prices jumped 16.1% month on month in March, according to preliminary data from the Bank of Korea released on Wednesday.The surge is the biggest on a month-on-month basis in nearly three decades due to cost pressures stemming from the war in Iran, Bloomberg reported separately the same day.On a yearly basis, imports jumped 18.4%, led by raw materials exports, which surged 40% year over year.Export prices increased 16.3% on a monthly basis, according to the central bank. The rise shows broad inflationary pressure across trade flows, according to the news outlet.The increases in both indicators also reflect a rise in crude costs coupled with a weaker won, according to Bloomberg.Exports surged 28.7% year over year, led by a 28.7% yearly increase in manufacturing goods, the central bank said in its release."The outlook for consumer inflation will likely be influenced by a combination of factors, including how the conflict in the Middle East unfolds, and the effectiveness of the government's price stabilization measures," Bloomberg quoted BOK Price Statistics Chief Lee Moon-hee as saying.South Korea's growth outlook is seen to rise 1.9% in 2026, while inflation is seen to accelerate to 2.5% this year from a previous forecast of 1.8%, according to the International Monetary Fund's World Economic Outlook.The forecast follows the central bank's siren on an increase in price pressures, with inflation exceeding a 2.2% forecast for 2026, Bloomberg said, citing Governor Rhee Chang Yong.The net barter terms of trade index gained 22.8% year over year in US dollar terms.

South Korea's Kospi Closes Near 6,100 Points on Renewed Hopes of US-Iran Talks, Possible End to Middle East Confict

South Korean shares closed sharply higher on Wednesday on hopes of renewed Washington-Tehran talks after initial negotiations failed in Islamabad last week.Investor optimism picked up after US President Donald Trump on Tuesday said fresh peace talks could take place over the "next two days." However, Iran's state news agency IRNA reported that there was "no information" about further talks with the US.The Korea Composite Stock Price Index or Kospi rose 123.64 points, or 2.07%, to end at 6,091.39. The Kosdaq also increased by 30.55 points, or 2.7%, to close at 1,152.43.In economic news, the seasonally adjusted unemployment rate in South Korea in March edged down to 2.7% from 2.9% in February, data from Statistics Korea indicated Wednesday.On an annual basis, the unemployment rate fell to 3.0% from 3.4%.In other economic news, South Korea's export prices rose 28.7% year-over-year in March, while import prices gained 18.4%, according to preliminary data from the Bank of Korea released on Wednesday.On a month-on-month basis, the export price index and the import price index increased 16.3% and 16.1%, respectively.The net barter terms of trade index gained 22.8% on-year during the month.In corporate news, Samsung Electronics (KRX:005930) launched new TV models for this year, which are equipped with key AI features.The 2026 lineup includes TVs such as the Micro RGB, OLED, Neo QLED, Mini LED, and UHD, alongside lifestyle TVs (The Frame Pro, The Frame), portable "Moving Style" screens, Music Studio 5/7 Wi-Fi speakers, and Q Series all-in-one soundbars.The TV lineup incorporates AI service platforms, including Bixby, Perplexity, and Microsoft Copilot.Shares of the company rose more than 2% at market close.

South Korean Shares Open Higher on Potential US-Iran Talks, Israel-Lebanon's Direct Negotiations

South Korean shares opened sharply higher on Wednesday on hopes of renewed Washington-Tehran talks after initial negotiations failed in Islamabad last week. Investor optimism picked up after US President Donald Trump on Tuesday said fresh peace talks could take place over the "next two days."The benchmark Korea Composite Stock Price Index, or Kospi, rose 173.85 points or 2.91% to open at 6,141.60. The Kosdaq also increased 18.74 points or 1.67% to start trading at 1,140.62.In addition, Israel and Lebanon resumed direct discussions for the first time in over three decades on Tuesday in Washington. The exchange was said to be positive, although key differences are yet to be resolved.Lebanon's Ambassador to the US, Nada Hamadeh Moawad, said details of the next talks will be shared in due course. Moawad described the first meeting as constructive and highlighted the urgent need to address the humanitarian crisis from the ongoing conflict.

South Korea's Jobless Rate Edges Down in March

The seasonally adjusted unemployment rate in South Korea in March edged down to 2.7% from 2.9% in February, data from Statistics Korea indicated Wednesday.On an annual basis, the unemployment rate fell to 3.0% from 3.4%.The number of unemployed people fell by 35,000 to 884,000 in March from 918,000 a year earlier.The number of employed people increased by 206,000 to hit 28.8 million last month from 28.6 million in the year-ago period.

South Korea's Export, Import Prices Jump in March

South Korea's export prices rose 28.7% year-over-year in March, while import prices gained 18.4%, according to preliminary data from the Bank of Korea released on Wednesday.On a month-on-month basis, the export price index and the import price index increased 16.3% and 16.1%, respectively, the data showed.The net barter terms of trade index gained 22.8% on-year during the month.

South Korea's Unemployment Rate Eases to 3.0% in March

South Korean Shares End Near 6,000 Points on Hopes of Renewed US-Iran Talks

South Korean shares closed just shy of 6,000-point mark on Tuesday, as investors appeared optimistic about renewed US-Iran talks following the failed talks in Islamabad.The Korea Composite Stock Price Index or Kospi rose 159.13 points, or 2.7%, to end at 5,967.75. The Kosdaq also increased by 22.04 points, or 2%, to close at 1,121.88.US President Donald Trump on Monday claimed that Iran wants to make a deal, but ​he will not ​allow Tehran to ​possess a nuclear weapon. He said that nuclear-related disagreements had stalled the peace talks, adding that a blockade of ships passing through the Strait of Hormuz by the US Navy had begun on Monday.Meanwhile, Iranian lawmaker Ebrahim Rezaei warned that Tehran will return to war if its conditions are not met. Rezaei said that either Iran's rights, including control over the Strait of Hormuz, are acknowledged, or the country will go back to war with the US.In economic news, South Korea's information and communication technology (ICT) exports surged 112% to $43.51 billion in March from a year earlier, the Ministry of Trade, Industry and Energy said in a Tuesday release.Imports increased 32.2% to $16.15 billion, resulting in a trade surplus of $27.36 billion.In corporate news, LS Eco Energy (KRX:229640) posted first-quarter net income attributable to shareholders of 12.7 billion won, up 13% from 11.3 billion won a year earlier, according to a Tuesday filing with the Korea Exchange.Sales of the power and communication cables manufacturer were up 30% year over year to 296.4 billion won from 228.3 billion won.Shares of LS Eco Energy rose 2% at market close.

Middle East Escalation Could Cost Asia Up to $299 Billion, UNDP Warns

The ongoing military escalation in the Middle East could inflict economic losses of up to $299 billion across Asia and the Pacific, as higher fuel, freight and input costs ripple through regional economies, UNDP's latest assessment report release Tuesday showed.The report said the shock is weakening household purchasing power, increasing food insecurity, straining public budgets and undermining livelihoods, particularly in countries heavily reliant on imported energy and food, as well as those exposed to Gulf trade routes, labor markets and remittance flows.It estimated that under a 28-day disruption scenario, regional output losses could range between $97 billion and $299 billion, equivalent to 0.3% to 0.8% of GDP, with South Asia facing the most pronounced impact.Around 8.8 million people across 14 countries could fall into poverty, including more than 5 million in Iran, where the poverty rate may rise from 36% to 41.5%, according to the simulations.The report, prepared as of April 9, draws on inputs from 22 UNDP country offices covering 36 countries, alongside modelling and external data. It noted that outcomes will depend heavily on the duration and intensity of the conflict, with risks rising further if disruptions persist.

South Korea's ICT Exports Surge 112% in March

South Korea's information and communication technology (ICT) exports surged 112% to $43.51 billion in March from a year earlier, the Ministry of Trade, Industry and Energy said in a Tuesday release.Imports increased 32.2% to $16.15 billion, resulting in a trade surplus of $27.36 billion, the release said.Exports extended a 14-month growth streak last month, exceeding $40 billion for the first time and accounting for 50.5% of total national outbound shipments. Semiconductor, mobile phone, and computer exports led the strong gains, while those of display and telecommunications equipment declined.By region, shipments to the U.S., China (including Hong Kong), the EU, Taiwan, Vietnam, India, and Japan increased, with imports also rising across most major categories, the release said.

South Korean Won Gains Against US Dollar Amid Renewed Hopes of US-Iran Talks

The South Korean won strengthened against the U.S. dollar on Tuesday amid expectations of a second round of talks between Washington and Tehran before the agreed US-Iran ceasefire expires next week.The won opened at 1,478.8 per dollar, gaining 10.5 won from the previous close, according to a Monday Yonhap News report.The talks are expected to take place after the U.S. imposed a naval blockade on Iranian ports from 10 a.m. ET Monday, with US President Donald Trump warning Iranian vessels against approaching the blockade and saying other countries may assist in the same, but failed to mention which countries.

South Korean Shares Open Higher Over Potential Second Round of Peace Talks Between US, Iran

South Korean shares opened higher on Tuesday amid discussions between the US and Iran to hold a potential second in-person meeting before the agreed US-Iran ceasefire expires next week.The benchmark Korea Composite Stock Price Index, or Kospi, rose 151.38 points or 2.6% to open at 5,960. The Kosdaq also increased 20.77 points or 1.88% to start trading at 1,120.61.Discussions for the talk come after the US carried out a naval blockade on Iranian ports, which started at 10 a.m. ET on Monday. US President Donald Trump threatened Iranian ships that come near the blockade. Trump also said that other countries were offering to help with the blockade of Iranian ports, but he did not mention which countries.Iranian Foreign Minister Abbas Araghchi told his Russian counterpart Sergey Lavrov that "provocative" US actions in the Persian Gulf and Strait of Hormuz could threaten global peace. Lavrov said Russia is ready to help resolve the issue from the "unprovoked American-Israeli aggression against Iran."In other news, Marco Rubio will join direct Israel-Lebanon talks on Tuesday at the US State Department, alongside Michel Issa and Michael Needham, with delegations led by ambassadors Yechiel Leiter and Nada Hamadeh.

South Korean Shares Close Lower on Failed US-Iran Talks, Hormuz Blockade by US Navy

South Korean shares closed lower on Monday after the US and Iran failed to reach common ground after 21 hours of negotiations in Islamabad, Pakistan.Following the failed talks, US President Donald Trump on Sunday warned on Truth Social that the US Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz. US forces are expected to block ​all maritime traffic entering and exiting Iranian ports at 10 am ET on Monday.The Korea Composite Stock Price Index or Kospi fell 50.25 points, or 0.9%, to end at 5,808.62. The Kosdaq increased by 6.21 points, or 0.6%, to close at 1,099.84.In economic news, South Korea's exports jumped 36.7% to $25.2 billion in the first 10 days of April from $18.4 billion a year earlier, Monday data from the Korea Customs Service showed. Imports increased 12.7% to $22.1 billion from $19.6 billion a year earlier, resulting in a $3.1 billion trade surplus.In corporate news, HD-Hyundai Marine Engine (KRX:071970) secured a ship engine supply contract from K Shipbuilding, according to a Monday filing with the Korean Exchange. The deal is valued at 85.9 billion won. The shipbuilder will deliver the engine by May 25, 2028.Shares of HD-Hyundai Marine Engine jumped more than 5% at market close.

South Korean Won Weakens Amid Failed US-Iran Talks

The South Korean won weakened against the U.S. dollar on Monday after the talks between the US and Iran failed after 21 hours of negotiations in Islamabad.Following the failed negotiations, U.S. President Donald Trump on Sunday warned on Truth Social that the U.S. Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz.The won opened at 1,495.4 per dollar, weakening 12.9 won from the previous close, according to a Yonhap News report.According to Reuters, U.S. forces would block ​all maritime traffic entering and exiting Iranian ports at 10 am ET on Monday.

South Korea's Exports Jump 37% in First 10 Days of April

South Korea's exports jumped 36.7% to $25.2 billion in the first 10 days of April from $18.4 billion a year earlier, Monday data from the Korea Customs Service showed.Imports increased 12.7% to $22.1 billion from $19.6 billion a year earlier, resulting in a $3.1 billion trade surplus.

Market Chatter: South Korea May Secure Crude Oil from Kazakhstan Amid Middle East War

South Korea may be close to securing crude oil supplies from Kazakhstan, and may announce specific amounts and details early next ​week, Reuters reported Sunday, citing industry minister Kim Jung-kwan during his interview ​with local broadcaster KBS.Earlier in April, Kim, along with the Presidential Chief of Staff Kang Hoon-sik traveled to Kazakhstan to discuss securing crude oil and naphtha, Reuters reported.The negotiations came amid the ongoing Middle East war, which makes it crucial for South Korea to seek alternative oil sources. The country almost solely depends ⁠on imports for its energy, with 70% of oil supplies coming from the Middle East, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Correction: South Korean Shares Open Lower on US-Iran Failed Talks

(Corrected to reflect the decline in the indices in the second paragraph)South Korean shares opened lower on Monday after the US and Iran failed to reach common ground after 21 hours of negotiations in Islamabad.The benchmark Korea Composite Stock Price Index, or Kospi, fell 121.59 points or 2.07% to open at 5,737.28. The Kosdaq also decreased 16.78 points or 1.53% to start trading at 1,076.85.US Vice President JD Vance, who led the Washington delegation, said Tehran had refused to accept Washington's terms, while Iran's Ministry of Foreign Affairs on Sunday said that it did not anticipate reaching an agreement with the US in a day.Following the failed talks, US President Donald Trump on Sunday warned on Truth Social that the US Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz. The US Navy has also been instructed to "seek and interdict" every vessel in International Waters that has paid a toll to Iran.According to Reuters, US forces would block ​all maritime traffic entering and exiting Iranian ports at 10 am ET on Monday.Following the news, Brent crude surged 7.98% to $102.80 a barrel after a slight loss on Friday, while U.S. WTI jumped 8.61% to $104.88, rebounding from the previous session's decline.

South Korean Shares Open Lower on US-Iran Failed Talks

South Korean shares opened lower on Monday after the US and Iran failed to reach common ground after 21 hours of negotiations in Islamabad.US Vice President JD Vance, who led the Washington delegation, said Tehran had refused to accept Washington's terms, while Iran's Ministry of Foreign Affairs on Sunday said that it did not anticipate reaching an agreement with the US in a day.The benchmark Korea Composite Stock Price Index, or Kospi, rose 121.59 points or 2.07% to open at 5,737.28. The KOSDAQ also increased 16.78 points or 1.53% to start trading at 1,076.85.Following the failed talks, US President Donald Trump on Sunday warned on Truth Social that the US Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz. The US Navy has also been instructed to "seek and interdict" every vessel in International Waters that has paid a toll to Iran.According to Reuters, US forces would block ​all maritime traffic entering and exiting Iranian ports at 10 am ET on Monday.Following the news, Brent crude surged 7.98% to $102.80 a barrel after a slight loss on Friday, while U.S. WTI jumped 8.61% to $104.88, rebounding from the previous session's decline.

Trump Declares Immediate U.S. Navy Blockade of Hormuz After Iran Talks Fail

U.S. President Donald Trump warned on social media that the U.S. Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz after a failed talk with Tehran.Trump said in a Truth Social post on Sunday that while the goal is eventually to reach an "all being allowed to go in, all being allowed to go out" arrangement, Iran has prevented this by citing vague concerns about undisclosed mines."Iran has not allowed that to happen by merely saying, 'There may be a mine out there somewhere,' that nobody knows about but them," Trump wrote.Trump further directed the Navy to intercept any vessel in international waters that has paid a toll to Iran while also ordering the destruction of mines allegedly laid by Iran in the strait and warning that any Iranian attack on U.S. or peaceful vessels would result in them being "BLOWN TO HELL."Meanwhile, Reuters News, citing the U.S. Central Command, reported that the blockade of all maritime traffic to and from Iranian ports is set to begin at 10 a.m. ET on Monday.The command clarified that freedom of navigation would remain unaffected for ships transiting the strait to non-Iranian ports, with formal notices to be issued to commercial mariners beforehand, the newswire said.