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.
South Korea’s National Pension Service (NPS), Public Officials Benefit Association (POBA) and Hyundai Marine & Fire Insurance Co. Ltd. are likely to commit $380 million to a blind-pool real estate fund which private equity firm Rockpoint Group is launching to&hellip
(Corrected: New overseas alternative head Young-shin Chung was not promoted from the position of domestic alternative investment head, but moved to the new position. First paragraph was corrected in that regard.) The Korea Teachers’ Pension on April 24 named its domestic&hellip
Four South Korean institutional investors will acquire 100 billion won ($88 million) worth of senior debts secured on two US gas-fired power plants from CIT Bank, in a rare secondary debt investment for domestic investors. The unidentified Korean institutions, including insurance&hellip