Battery Maker LG Energy Jumps 8% After Profit Beats Estimates bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Investors in few, if any, countries in the world have been burned as badly by the collapse in the commercial real estate market as those in South Korea. Its pension funds, insurance companies and asset managers all plowed billions of dollars into properties across the globe just before the pandemic drove down their value.Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlCitadel Is Ready to Fight With SEC Over WhatsApp ProbeBond Selloff Grinds
Souring Global Office Bets Raise Risk of Korean Liquidity Crunch bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Seoul shares ended lower Monday as signs of trouble at the major European lender Deutsche Bank renewed concerns over the health of the global financial system. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 5.74 points, or 0.24 percent, to close at 2,409.22. Trading volume was moderate at 465.77 million shares worth 8.4 trillion won (US$6.5 billion), with decliners outpacing gainers 555 to 313.Investors remain concerned over the risk of a recession amid the banking crisis triggered by the collapse of the U.S.-based Silicon Valley Bank.