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Opened up 1.8% on the US-Iran deal and strong May export prices driven by a surge in semiconductor-linked products.

Asia

Securities Firms in Major Asia-Pacific Markets Display Strength Despite Volatility, Fitch Says

Rated securities firms in major Asia-Pacific markets show strength despite lingering equity market volatility, Fitch Ratings said in a recent release.Securities companies in Korea, Japan, Taiwan, and China display sufficient capital buffers, solid risk control frameworks, and adherence to strict regulatory oversight, the rating agency said.Net adjusted leverage has risen in the sector since 2025, reaching about 8x to 9x in Korea and Taiwan and 12x to 13x in Japan, due to asset expansion and stronger capital market activity, according to Fitch.Direct credit risk from margin financing and similar securities-backed lending will remain limited due to tight margin maintenance requirements and active collateral monitoring, the rating agency said.Investment books continue to account for the largest asset share for firms, making up 60% of assets in Korea, 40% to 50% in China, and 30% to 40% in Japan and Taiwan, Fitch said.

^KOSDAQKOSPINikkei 225Shanghai Composite^SZSETaiwan Weighted
Asia

Semiconductors Outperform, Widen Gap With Other Korean Sectors, S&P Says

Profitability improvements among rated Korean corporates are concentrated within two chipmakers, overshadowing gains in other sectors, S&P Global Ratings said in a recent release.Notable macroeconomic dynamics will further increase the gap in operating performance among corporates, with the semiconductor industry dominating overall profit expansion, S&P said.Semiconductors and defense should further outdo other sectors over the next one to two years amid strong product demand growth, the rating agency said.Meanwhile, utilities, petrochemicals, and electric vehicle batteries are exposed to oil price movements, inflationary pressure, weakness in the won, and US policy shifts, S&P said.S&P's rating actions on Korean corporates were on a downward bias in the first half of the year, with conditions diverging for sectors and continuing to be slightly negative, credit analyst Jeremy Kim said.

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International

Korea Economic Research Institute Forecasts South Korean Economy to Grow by 2.7%

The South Korean economy is expected to grow by 2.7% this year against a 1.1% growth recorded a year ago, driven by strong semiconductor exports, according to a report by Pulse on Thursday, quoting a forecast presented at a seminar hosted by the Korea Economic Research Institute.The presentation showed that if the expectation is met, then the economy would surpass its estimated 2% potential growth rate for the first time in two years.KERI projected Korea's current account surplus could reach a record $225 billion this year. While there is an expectation that the easing of tensions in the Middle East will ease pressure on oil prices, inflation, and the exchange rate, consumer inflation is still likely to rise to 2.7% this year.As per the report, the domestic demand is expected to remain weak. Private consumption is estimated to grow 2% and construction investment 0.5%.

KOSPI
Asia

South Korean Shares Plunge on AI, Battery Losses; Samsung Loses 5%, SK Hynix 8%

South Korean shares closed lower on Friday after investors booked profits on AI and battery stocks following the previous day's strong gains. Market heavyweights Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Energy Solution (KRX:373220) shed over 5%, 8% and 6%, respectively, at the end of the trading day.The benchmark Korea Composite Stock Price Index, or Kospi, fell 5.8%, or 519.09 points, to close at 8,411.21. The Kosdaq also declined by 4.1%, or 36.44 points, to end at 851.37.In economic data, the average interest rate on new deposits in South Korea added one basis point to hit 2.93% in May from the previous month, while the average interest rate on outstanding amounts of deposits also added one basis point to 2.03% during the same period.The average interest rate on new loans in the country shed one basis point to hit 4.19% in May from the previous month, while the average interest rate on outstanding amounts of loans added one basis point to 4.31% during the same period, the Bank of Korea said Friday.On the corporate front, SK Telecom (KRX:017670) plans to invest 738.38 billion won in chipmaker SK Hynix's US-incorporated NAND unit SK Hynix NAND Product Solutions Corporation (SKHNPS) via a capital contribution commitment agreement to acquire 1,198 newly issued shares.The investment will give SK Telecom a 0.9% stake in SKHNPS, with the acquisition scheduled to close on June 25, 2030, according to a Friday filing with the Korea Exchange.Shares of SK Telecom fell nearly 1% at market close.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:017670KRX:373220
Asia

Korean Authorities Prefer Bank Issuers for Stablecoin Adoption, S&P Says

Korea will likely choose a prudent framework for stablecoin issuance in which banks will be the major issuers, instead of allowing nonbanks in the mix, S&P Global Ratings said Thursday.Authorities could resort to banks as the key issuers at least in the initial stages of stablecoin adoption, backed by their solid risk management framework within regulatory supervision, S&P credit analyst Daehyun Kim said.The regulators' preference is in contrast with some legislators' favored model that allows nonbank stablecoin issuers, which is more in line with frameworks in the US or the European Union, the rating agency said.Bank issuers will hone in on institutional use cases such as cross-border wholesale settlement, raising linkages with the stablecoin market through both issuance and reserve assets, S&P said.Bank deposits could possibly serve as a major component of stablecoin reserve assets, although market stress could drive deposit outflows for some banks and migration toward those with more solid deposit franchises, according to S&P.

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Asia

South Korean Stocks Gain Sharply on AI-Led Market Optimism

South Korean shares closed sharply higher on Thursday, supported by gains in U.S. stock futures after US-based computer memory chip maker Micron Technology's upbeat fiscal fourth-quarter sales outlook boosted investor confidence in the AI-led market rally.The benchmark Korea Composite Stock Price Index, or Kospi, rose 5.4%, or 459.28 points, to close at 8,930.3. The Kosdaq declined by 2.4%, or 21.5 points, to end at 887.81.Micron Technology expects revenue to be around $50 billion in fiscal Q4, with diluted earnings per share of $30.73. Gross margin is expected to be around 86%.In economic news, the composite business sentiment index in all industries in South Korea decreased 1.2 points to 97.7 in June from 98.9 in May, while the outlook for the next month fell by 2.4 points to 95.2, according to data released by the Bank of Korea on Thursday.The seasonally adjusted composite business sentiment index for the manufacturing sector added 0.4 points to 101.2, while the outlook for the following month shed 2.1 points to 98.2, the central bank said.For the non-manufacturing sector, the seasonally adjusted composite business sentiment index decreased 2.1 points to 95.4, while the outlook for the following month shed 2.7 points to 93.2.Meanwhile, the economic sentiment index, a composite of the business survey and consumer survey indices, went down 0.7 points to 96.8.In corporate news, SK Bioscience (KRX:302440) secured a supply contract of influenza vaccines from 2026 to 2027 from the Public Procurement Service of the Republic of Korea, according to a Thursday filing with the Korea Exchange.The contract, valued at 23.9 billion won, is valid till June 30, 2027.Shares of SK Bioscience jumped nearly 2% at market close.In other news, Fitch Ratings assigned Korea Investment (KRX:071050) subsidiary Korea Investment & Securities a long-term credit rating of BBB with a stable outlook, according to a commentary released Wednesday.The stable outlook reflects the rating agency's expectation that the brokerage, wealth management, proprietary trading, and investment banking services provider will maintain a balance sheet and financial profile in accordance with its current rating over the next one to two years.Fitch Ratings will continue to monitor Korea Investment & Securities' evolving business model and risk profile, the release said.Shares of Korea Investment Holdings rose nearly 5% at market close.

^KOSDAQKOSPIKRX:071050KRX:302440
International

South Korea's Business Sentiment Declines in June

The composite business sentiment index for all industries in South Korea decreased 1.2 points to 97.7 in June from 98.9 in May, while the outlook for the next month fell by 2.4 points to 95.2, according to data released by the Bank of Korea on Thursday.The seasonally adjusted composite business sentiment index for the manufacturing sector added 0.4 points to 101.2, while the outlook for the following month shed 2.1 points to 98.2, the central bank said.For the non-manufacturing sector, the seasonally adjusted composite business sentiment index decreased 2.1 points to 95.4, while the outlook for the following month shed 2.7 points to 93.2.Meanwhile, the economic sentiment index, a composite of the business survey and consumer survey indices, went down 0.7 points to 96.8.

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Asia

MSCI Retains South Korea Under Emerging Market Status

U.S.-based Morgan Stanley Capital International (MSCI) maintained South Korea's emerging market status in its latest review released Tuesday, saying the limited convertibility of the Korean won offshore was a key barrier to the economy's reclassification to developed market status.The MSCI also cited the country's operational hurdles around the adoption of omnibus accounts and in-kind transfers and ongoing market-access restrictions as reasons for the decision, according to the release.

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Treasury

South Korea Expands Treasury Share Disclosure Rules for Listed Firms

The South Korean government approved a revision to a bill that requires all listed companies in the country to disclose details on their treasury stocks, the Financial Services Commission said Tuesday.The revised Enforcement Decree of the Financial Investment Services and Capital Markets Act (FSCMA) requires all firms to prepare treasury share retention and disposal plans and secure shareholder approval, expanding disclosure requirements to cover all listed companies that hold treasury shares.Second, the amended rules remove provisions that allow treasury shares-backed exchangeable bonds, bringing capital market regulations in accordance with the revised bill.In addition, under the revised bill, trust businesses will not be allowed to dispose of treasury shares during the trust agreement period and are required to immediately return to beneficiaries upon its termination or cancellation.The amendment will come into effect from June 30.

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Asia

AI-Driven Boom to Benefit Tech-Heavy Asia-Pacific Economies, S&P Says

Asia-Pacific economies with significant tech manufacturing will benefit from an AI-linked tech export boom, S&P Global Ratings said Wednesday.The benefits from the AI tech rally will counter the adverse effects from the energy shock in these economies, S&P Asia-Pacific chief economist Louis Kuijs said.S&P sees possible upward GDP estimate revisions for markets with solid tech shipments, mainly South Korea and Taiwan, as well as Malaysia, Singapore, and Thailand.Meanwhile, the impact of the energy shock has dampened growth forecasts for India, Japan, New Zealand, and the Philippines, S&P said.The rating agency's forecast for China remains stable as strong export dynamics offset weaker domestic demand.S&P maintained its baseline GDP growth forecasts in the region excluding China at 4.5% for 2026 and 4.4% for 2027.

^BSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225Nifty 50^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Korean Insurers Tighten Risk Controls Amid Growing Caution on Alternative Investments, S&P Says

Korean insurers are maintaining stricter risk management controls amid growing wariness of overseas alternative investments, including private credit funds and real estate funds, S&P Global Ratings said Wednesday.The assets seem to post reduced risk-adjusted returns that do not meet insurers' expectations, S&P said.Insurers are now honing in on highly rated bonds and fixed-income securities as domestic bond yields increase, the rating agency said.The rating agency views controlled exposure to riskier overseas private credit and real estate funds for Korean insurers.Rated insurers will endure stress linked to these assets at their present rating, but an ensuing shock will hit profitability, according to S&P.

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Asia

South Korean Shares Rebound on Chip Gains; Samsung Adds 10%, SK Hynix 1%

South Korean shares rebounded on Wednesday, owing to strong gains made by heavyweight semiconductor stocks, after following a technology stocks-led sell-off on record on Tuesday. Key market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added nearly 10% and 1%, respectively, at market close.The benchmark Korea Composite Stock Price Index, or Kospi, rose 3.3%, or 267.18 points, to close at 8,471.02. The Kosdaq also increased by 2%, or 17.79 points, to end at 909.31.In economic news, the number of foreign tourists that arrived in South Korea has exceeded 10 million as of the third week of June, the Ministry of Culture, Sports and Tourism said in a Wednesday release.The number of foreign tourists visiting South Korea jumped 19.4% to 1.95 million in May from 1.63 million a year earlier. Total foreign arrivals in the country in the first five months of 2026 rose 21% to 8.72 million from 7.21 million in the same period last year, the ministry said.In the corporate front, the South Korean government is in discussions with chipmakers Samsung Electronics and SK Hynix over the next phase of large-scale semiconductor investments, Reuters reported Wednesday, citing presidential policy adviser Kim Yong-beom at a discussion panel.Kim said that AI-driven demand growth may require the two chipmakers to boost planned chip facility construction by more than 10 years to 2034-2035, while the government looks for space to build a second semiconductor cluster, the report said.In other news, CMES Robotics (KOSDAQ:475400) secured a supply contract for an electrode coater insulation thickness measuring instrument from LG Energy Solution Arizona, the company said in a Wednesday filing with the Korean Exchange.The contract, valued at 1.40 billion won, is expected to be valid till Aug. 31, 2028.Shares of CMES Robotics rose nearly 7% at market close.

^KOSDAQKOSPIKRX:000660KRX:005930
International

Foreign Tourist Arrivals in South Korea in 2026 Exceed 10 Million

The number of foreign tourists that arrived in South Korea has exceeded 10 million as of the third week of June, the Ministry of Culture, Sports and Tourism said in a Wednesday release.Ministry of Culture, Sports and Tourism Choi Hwi-young said that this milestone was achieved about a month earlier than last year, when the 10 million mark was surpassed in mid-July.The number of foreign tourists visiting South Korea jumped 19.4% to 1.95 million in May from 1.63 million a year earlier. Total foreign arrivals in the country in the first five months of 2026 rose 21% to 8.72 million from 7.21 million in the same period last year, the tourist ministry said.

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Asia

South Korea's Kospi Crashes 10% as Investors Offload Tech Stocks; Samsung, SK Hynix Down 12%

A technology stocks-led sell-off dragged South Korean stocks sharply lower on Tuesday on strong profit-taking and following overnight losses on Wall Street. Major market-moving technology stocks Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) plunged over 12% at market close.The Korea Exchange activated a five-minute buy-side sidecar on the country's primary stock market around 11.40 am after the KOSPI200 Futures fell 76.06 points, or 5.12%, to trade at 1,407.54 amid the massive sell-off. A buy-side sidecar is activated when the KOSPI200 Futures index moves 5% or more for at least one minute.The benchmark Korea Composite Stock Price Index, or Kospi, fell 10%, or 910.71 points, to close at 8,203.84. The Kosdaq also decreased by 7.9%, or 76.88 points, to end at 891.52.In economic news, South Korea's composite consumer sentiment index rose to 106.6 in June from 106.1 in May, according to data released by the Bank of Korea on Tuesday. A reading above 100 indicates an improved outlook, while a reading below 100 suggests pessimism.Sentiment toward current living standards rose one point to 94, while sentiment on the future outlook was unchanged at 97. The outlook for future household income and the sentiment for future household spending were steady at 100 and110, respectively.In corporate news, a worker at HD Korea Shipbuilding & Offshore Engineering (KRX:009540) subsidiary HD Hyundai Samho died on Monday after being struck by a mooring rope during vessel berthing operations at Dolphin Pier 1 in Yeongam.The Ministry of Employment and Labor is investigating the matter, according to a Tuesday filing with the Korea Exchange.Shares of HD Korea Shipbuilding & Offshore Engineering fell nearly 8% at market close.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:009540
International

South Korea's Composite Consumer Sentiment Index Inches Up in June

South Korea's Composite Consumer Sentiment Index (CCSI) rose to 106.6 in June from 106.1 in May, according to the Bank of Korea's June Consumer Trends Survey released on Tuesday.Consumer sentiment regarding current living standards came in at 94 in June, one point higher than the preceding month, and the sentiment around the future outlook was unchanged at 97, the data showedThe survey was conducted from June 9 to 16.Consumer sentiment regarding the current domestic economic conditions in June was also three points higher than in May at 86. Meanwhile, the sentiment around the future domestic economic conditions slipped by one point from May to 92 in June.Sentiment around future household income and future household spending were both unchanged, at 100 and 110, respectively.As per the data, the expected inflation rate for the upcoming year was 2.8%, unchanged from a month earlier.

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International

South Korean Non-Financial Firms' Sales Rise 13.5% in Q1

Sales at South Korea's non-financial companies rose 13.5% in the first quarter of 2026 from the previous quarter, according to data released Tuesday by the Bank of Korea.The pace of growth was sharper than the 2.5% expansion recorded between Q3 and Q4 2025.Total assets increased 4.7% from a year earlier, also faster than the 1.4% anual growth in Q4 2025.Profitability improved during the quarter, with the operating income-to-sales ratio rising to 13.2% from 6.0% a year earlier.The income-before-taxes-to-sales ratio increased to 15.4% from 7.7%.Financial stability indicators also strengthened, as the debt-to-equity ratio declined to 87% from 88.9% in the previous quarter.

KOSPI
International

Asia Week Ahead: Policy Rates; Inflation Prints; and Labor Data

The macro calendar in Asia for the week of June 22 will be relatively light, though investors will still have a mix of inflation prints, activity indicators and policy decisions to track.The week gets off to a quiet start on Monday with China's benchmark lending rates.Activity picks up Tuesday with inflation data from Hong Kong and Singapore, alongside preliminary manufacturing and services readings from several major economies.Wednesday brings Thailand's monetary policy decision, while Thursday will shift the focus to Australia's labor market data.Friday rounds out the trading week with Tokyo inflation data, as well as Singapore's trade and industrial production figures.China's industrial profits data will follow on Saturday, with markets watching for signs of continued growth in corporate earnings.Here's what to watch in the week ahead.MONDAY, June 22The week kicked off with the release of China's closely-watched lending rates.As expected, the People's Bank of China kept its benchmark rate steady at its monthly fixing, with the one-year and five-year loan prime rate (LPR) maintained at 3% and 3.50%, respectively.Macao's monthly inflation print will be in the news later in the day.TUESDAY, June 23The second day of the week brings inflation data from Hong Kong and Singapore, along with preliminary readings on manufacturing and services activity across several economies.Singapore's inflation is expected to rise to 2.1% year on year in May from 1.8% in April, according to ING. The bank said the increase would mainly reflect elevated food prices and the delayed pass-through of earlier fuel price gains.Inflation in Hong Kong is similarly expected to accelerate to 2.1% in May from 1.7% in April, Trading Economics forecasted.Taiwan will report its monthly export orders and unemployment rate. Economists at ING said they expect May export orders to rise to 50.7% year on year amid the ongoing tech boom.Meanwhile, unemployment is expected to edge up to 3.4% in May from 3.34% in April, according to a Trading Economics forecast.On the activity front, S&P Global releases flash purchasing managers' index reports covering manufacturing, services, and composite activity in India, Japan, and Australia.Thailand reports its trade figures for May.According to Trading Economics, the country's trade deficit could narrow to $5 billion from a $10.02 billion deficit in the prior month period.South Korea's monthly consumer confidence report will also be among the highlights of the day.WEDNESDAY, June 24Thailand's central bank will convene for its interest rate decision, with markets expecting no change to the current benchmark of 1%, according to a Trading Economics forecast.Markets will also be closely watching Australia's monthly inflation print after the country's central bank decided to leave the cash rate target unchanged at its most recent meeting to assess the impact of previous rises and the oil supply disruption.Australia's consumer price index (CPI) is expected to fall 0.3% from the previous month, a result that would still see the annual pace of inflation rise to 4.4%, Westpac said.Transport is expected to be the primary drag due to lower fuel prices, alongside declines in clothing and footwear, somewhat offset by modest gains in food and housing, according to the bank.Elsewhere, Taiwan will report industrial production and retail sales data for May.As with export orders, industrial production is expected to benefit from the ongoing tech boom and could record a growth of 14.2% year on year, ING said.THURSDAY, June 25Thursday will be relatively light on macro readouts, with Australia's monthly labor data among the handful of releases of note.Westpac said it expects Australia's May labour force data to show a bounce-back after April's data surprised materially to the downside, possibly due to extra holiday-related weakness tied to the survey's Easter timing.The bank forecast a bounce-back in employment of 45,000 for May, with the participation rate edging back up to 66.8%, and the unemployment rate slipping to 4.4% from 4.5%.Hong Kong's May trade figures will also feature Thursday.The city is expected to report a trade deficit of HK$32.5 billion for the month, widening from a deficit of HK$29.5 billion in April, Trading Economics forecasted.In South Korea, the business confidence survey for June will be expected. The readout should show an improvement in business sentiment amid easing geopolitical tensions and strong performance in the tech sector, ING said.FRIDAY, June 26Japan's closely watched Tokyo core consumer price index for June will capture headlines, offering markets an early indicator of the overall inflation rate in the country.Economists at ING expect headline inflation to rise modestly to 1.7% year on year from 1.4% in the prior month and below the government's 2% target."JPY weakness and second-round effects from higher energy prices should add to inflationary pressures on both goods and services prices," ING said.Trade data from Singapore and Macao will also feature Friday, with Singapore additionally reporting industrial production data.Lastly, the Philippines will release its business confidence report for May.SATURDAY, June 27The week rounds off with the release of China's industrial profits data.After profits at major industrial enterprises rose 18% year on year in the first four months of 2026, markets will be watching the latest data for signs of continued growth.

ASX 200^BSEHang SengKOSPINikkei 225Nifty 50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

South Korean Shares Close at New High on Chip Stock Gains; Kospi Crosses 9,100 Points

South Korean shares closed at a new high on Monday, with the primary index Kospi closing over 9,100 points, owing to strong gains by chipmakers. Shares of SK Hynix (KRX:000660), Hana Micron (KOSDAQ:067310), and Hanmi Semiconductor (KRX:042700) gained nearly 6%, 16%, and over 2%, respectively, at market close.The gains came as the U.S. and Iran made progress at their high-level negotiations in Switzerland, mediated by Pakistan and Qatar.The benchmark Korea Composite Stock Price Index, or Kospi, rose by 0.7%, or 62.13 points, to close at 9,114.55. The Kosdaq also increased by 0.2%, or 1.81 points, to end at 968.4.In economic news, South Korea's exports jumped 60.4% to $62 billion in the first 20 days of June from $38.7 billion a year earlier, Monday data from the Korea Customs Service showed.Imports increased 23.2% to $44.5 billion from $36.1 billion a year earlier, resulting in a $17.5 billion trade surplus.On the corporate front, PanGen Biotech (KOSDAQ:222110) secured a research service contract to advance a production system and evaluate a non-clinical sample production system for an antibody treatment targeting Severe Fever with Thrombocytopenia Syndrome (SFTS).The contract, valued at 2.8 billion won, is valid till Dec. 31, 2028, according to a Monday filing by the biotechnology company with the Korea Exchange.Shares of Pangen Biotech rose nearly 2% at market close.

^KOSDAQKOSPIKOSDAQ:067310KOSDAQ:222110KRX:000660KRX:042700
Asia

South Korea Unveils Plan to Combat AI-Driven Cyber Threats

South Korea's Ministry of Science and ICT has unveiled an emergency action plan to shore up the private sector against AI-driven cybersecurity threats, according to a ministry release on Monday.The ministry has established a cross-government coordination framework built around a new Vulnerability Management Center within the country's Korea Internet & Security Agency.The plan was triggered by the Project Glasswing report released by Anthropic on May 23, which identified more than 16,000 vulnerabilities across participating companies' systems.Under the framework, KISA will collect, analyze, and share vulnerability and patch information to around 28,000 companies across several industries.

KOSPI
Asia

Market Chatter: Two South Korea-Operated Ships Transit Strait of Hormuz After Ceasefire

Two vessels operated by South Korean firms have passed through the Strait of Hormuz since the U.S. and Iran signed a ceasefire deal last week, Reuters reported Monday, citing the East Asian nation's Ministry of Oceans and Fisheries.The ships are not carrying South Korean crew and are not bound for the country, but have yet to fully clear the high-risk zone, the ministry said, according to the report.As of Monday, 22 South Korean-operated vessels remained in the critical waterway, Reuters reported.(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.)

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