The stock prices of securities firms rose sharply amid the return of a bull market. On March 16, the securities industry index closed at 1,897.60, up 3.59 percent or 65.78 points from the previous day, the second highest growth among all KOSPI industrial sectors, behind the steel and metal industry (3.94%).
The share price of Kiwoom Securities jumped 7.34 percent to 86,300 won, hitting the highest since November 2007. The stock prices of NH Investment & Securities, eBest Investment & Securities, Mirae Asset Daewoo, Samsung Securities, Meritz Securities, and Hanwha Investment & Securities also rose 4.47 percent, 4.07 percent, 3.96 percent, 3.41 percent, 2.14 percent, and 2.37 percent, respectively.
Despite the U.S. Fed's decision to raise its policy rate, expectations are high that Korea's stock market would continue an upward trend since the Fed declared its intention to raise rates on a step by step basis.
Many analysts recommended Kiwoom Securities as the best pick. Kiwoom posted a net profit of 47.6 billion won in the fourth quarter of last year, beating the market consensus of 33.1 billion won.
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip
ING Life Insurance Korea Ltd. sees core office buildings and infrastructure in the US and Europe remaining as attractive targets even in the periods of interest rate rises, with asset price gains likely to be offset by rent increases, said&hellip
South Korean investment firms, which have recently snapped up prime office buildings and warehouses in the US and Europe, are struggling to raise capital from domestic institutional investors, under increasing pressure to abandon the deals or tap retail investors. JB&hellip