South Korean stocks ended more than 0.8 percent lower Tuesday as investors were in cautious mode ahead of the release of major US economic data later this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index retreated 22.03 points, or 0.83 percent, to 2,625.05. Trade volume was slightly heavy at 567.4 million shares worth 12.4 trillion won ($9.3 billion), with .
Investors are amassing funds to jump into the local stock market ahead of the government s unveiling of the much-anticipated Corporate Value-up program, which is designed to tackle the decades-long Korea discount, according to the Korea Financial Investment Association, Sunday.
South Korean stocks rose by almost 3 percent Friday, backed by techs, autos and financials following solid earnings reports from US big techs. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 72.85 points, or 2.87 percent, to 2,615.31. Trade volume was high at 580 million shares worth 14.1 trillion won ($10.7 billion), with winners far outpacing losers 710 to 180. For.
The government’s forthcoming initiative to tackle the so-called Korea discount is prompting speculation that it may unintentionally encourage investors to dump their stocks in the secondary Kosdaq bourse, thereby causing it to fall sharply.
Financial authorities criticized the brokerage industry for its reliance on the real estate business and warned that they would hold firms accountable that fail to manage real estate project financing risks effectively.