South Korea Financial News

Global market, including India, will take further cues from geopolitical developments, oil prices and bond yield fluctuations, along with earnings of major companies. “We expect earnings season to pick up pace in a truncated week which would direct the market trend along with global cues. On the global front, ECB (European Central Bank) will announce interest rate decision this week," Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.

China exceeded forecast, helped by stronger retail sales at the end of the third quarter and bolstered by government stimulus efforts. Household demand was also robust in the US and likely contributed to the strongest pace of economic growth in nearly two years. Meanwhile, persistent industrial woes are projected to leave the German economy — Europe’s largest — in another recession this year. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: Asia China’s economy gained momentum last quarter as people ramped up spending on everything from restaurants and alcohol to cars, offsetting a drag from the property crisis and putting Beijing’s annual growth goal well within reach. China’s economy gained momentum last quarter as people ramped up spending on everything from restaurants and alcohol to cars, offsetting a drag from the property crisis and putting Beijing’s annual growth goal well within reach. China’s central bank stepped up efforts to support the nation’s economic recovery and debt sales by delivering the largest cash injection since 2020 with one-year policy loans. The injection of extra cash into the economy will offer a much-needed boost to China’s growth, which has been challenged by a lack of demand and a downturn in the property market this year. South Korea’s trade minister said his country is prepared to look for alternative sources of graphite if China’s newly strengthened export controls on the key material used in electric-vehicle batteries cause a severe shortage.

Hacking attempts on South Korea's largest cryptocurrency exchange, Upbit, have surged to 159,061 in the first half of 2023, according to data submitted to the National Assembly. The figure represents a 2.17-fold increase compared to the same period last year. Lawmaker Park Sung-jung criticizes the ambiguous role of the Ministry of Science and Technology in regulating the exchange.

Publicly listed gaming companies are sitting on a $45 billion pile of cash and cash equivalents — and that could lead to greater consolidation in the $188 billion video games market, according to a new report from venture capital firm Konvoy, which was shared exclusively with CNBC.

Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar steadied following somewhat mixed comments from Federal Reserve Chair Jerome Powell on the path of interest rates. 

Poshmark informed customers that it will be closing its India business on October 26. The US-based e-commerce firm, which specialises in the sale of second-hand products, had launched its India operations in September 2021, as part of a wider international expansion into markets such as Australia. The firm is also reportedly closing operations in Australia and the UK.

The small-cap crypto token Sui is facing turbulent times as its price hits all-time lows.

South Korean Unification Ministry has been closely monitoring the import of luxury items into North Korea, revealing a noticeable surge in conspicuous wealth among the country's elite. The Kim Dynasty and other high-ranking individuals in North Korea have demonstrated an enhanced appetite for designer imports and luxury products.

The price of Bitcoin SV (BSV) has risen by 7% in the past 24 hours, with its jump to $42.73 coming on a day when the wider cryptocurrency market has fallen by 0.5%.

Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.

Sui’s native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain. 

An International Atomic Energy Agency team is in Fukushima for the agency's first marine sampling since treated radioactive wastewater started being released from the area's damaged nuclear plant into the sea

A South Korean company has begun production at a huge solar panel factory in Georgia

Santos has taken steps to start installing the pipeline for its $5.8 billion Barossa gas project in the Timor Sea, even as it awaits regulatory approvals for the drilling work it was forced to suspend more than a year ago because of a court ruling.

Investing.com-- Most Asian stocks tumbled on Thursday, with technology-heavy indexes bearing heavy losses tracking a spike in bond yields, while anticipation of a speech from Federal Reserve Chair Jerome Powell also kept investors on edge. 

Investing.com-- Most Asian currencies were muted on Thursday, nursing steep overnight losses as the dollar firmed tracking a spike in Treasury yields before a closely-watched address by Federal Reserve Chair Jerome Powell.

laptop, server and other IT hardware importers to provide an international certification attesting that their product is from a trusted source before allowing a licence-free import of it, people in the know of the matter told ET. This certification, one of the people said, could be from an international organisation. This organisation could periodically verify that the components used in the hardware come from trusted supply chains and do not have any spyware or malware in them, this person said.

central bank kept its interest rate unchanged for a sixth straight meeting on Thursday while retaining a tightening bias, as policymakers stayed alert to higher oil prices that could interrupt a moderation in inflation. The Bank of Korea (BOK) said price pressures would remain for longer than expected due to heightened uncertainties surrounding the Israel-Hamas conflict and global oil prices. «The timing of consumer price inflation converging on the target level is more likely to be delayed than previously expected,» it said in a statement after keeping its key policy rate at 3.50%, as expected by all 49 economists polled by Reuters. The South Korean economy has taken a hit from a cumulative 300 basis points of rate hikes since August 2021 that has been adding financial stress to households, among the most indebted in the world. With markets not anticipating a rise in rates for the rest of the year, the focus is now on whether Governor Rhee Chang-yong will maintain his hawkish bias or signal a policy pivot. «Above-target domestic inflation will keep the BOK guarded. September's print exceeded expectations at 3.7%, driven mainly by oil and agricultural prices.

BSE Sensex closed 551.07 points, or 0.83%, lower at 65,877.02, while the NSE Nifty 50 declined 140.40 points, or 0.71%, to settle at 19,671.10. “Profit booking ensued in Indian markets, spurred by weak global sentiments and escalating Middle East tensions. A sudden rise in the tension has led to instability in energy prices.

Exceptional monsoon rains washed away cars, bridges and homes in northern India, shortly after Delhi recorded its heaviest day of rainfall in more than 40 years. South Korea scrambled to rescue people trapped by floods and landslides. Back in America Vermont was battered by storms, and roads in New Hampshire collapsed after torrential rain.

Sips bar has secured the top spot in the 2023 edition of the World's 50 Best Bars, a prestigious ranking organized by William Reed Business Media. Double Chicken Please in New York followed in the second position, while Handshake Speakeasy from Mexico City clinched the third place. This year, the awards ceremony made history by taking place in Asia, specifically in Singapore.