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.
Mirae Asset Global Investments Co. Ltd. invested 54 billion won ($48 million) last week in mezzanine debt secured on two warehouses leased to FedEx Corporation on behalf of South Korean institutional investors, in its second investment in the logistics facilities&hellip
Hana Financial Group, the parent company of KEB Hana Bank, will acquire a shopping center building and its surrounding land in a small Japanese city in a deal worth around 50 billion won ($44 million), with a view to reselling&hellip
KEB Hana Bank, a leading South Korean lender, has arranged $300 million lease financing for an aircraft portfolio of Avolon, in the first financing arrangement by a South Korean bank for the Irish aircraft leasing firm, according to local newspaper reports.&hellip