Tag: South Korea
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Samsung operating profit up 1,800% in second quarter on AI boom
SEOUL: South Korean technology giant Samsung Electronics posted on Thursday (Jul 30) a massive 19-fold jump in second-quarter operating profit from a year earlier, buoyed by sustained AI-driven demand for memory chips.The world’s largest memory chipmaker posted April-June operating profit of 89.49 trillion wo
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BTS pulls out of Grammys after Asian pop category introduction
“We have decided not to enter the Grammys this year,” BTS members said in coordinated posts on their individual Instagram accounts. “We hope that music is heard and loved for what it is, rather than being defined by region or language.”
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South Korea to cap investment in single-stock leveraged ETFs, ministry says
SEOUL, July 29 : South Korea will introduce additional curbs on single-stock leveraged exchange-traded funds (ETFs), including a cap that could limit an individual’s investment in such products to 20 per cent of their total investment assets, the finance ministry said on Wednesday. The measures follow sharp s
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Minister apologizes as Korean leveraged ETF investors nurse heavy losses amid chip stock rout
Korean retail investors have racked up heavy losses from leveraged bets on stocks, following rule changes earlier this year.
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BTS’ concerts have been so successful, it’s now bad for its own agency Hybe’s shares
Shares of Hybe tanked 16.09% on Tuesday, marking its worst day since June 2022. It then extended losses to tumble as much as 16.31% on Wednesday.
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Asian technology stocks extend sell-off with SoftBank down 7% as AI plays take a hit
Asian technology stocks extended their selloff on Wednesday, with semiconductor names leading declines after another weak session in the U.S.
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South Korea may cap leveraged ETF investments for retail investors, media reports say
SEOUL, July 28 : South Korea’s top financial regulator said on Tuesday that authorities would consider a cap on single-stock leveraged exchange-traded funds (ETF) investments for retail investors if needed, local media reports said. Lee Eog-weon, chairman of the Financial Services Commission, told a meeting w
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U.S. and Korean tech stocks are now tightly linked — and that could be a worry for investors
The 60-day correlation between the Kospi and Nasdaq 100 recently climbed to about 0.50, its highest level since 2021, according to data provided by Rayliant.
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South Korea court gives ex-President Yoon suspended jail term for violating election law
The sentence could force Yoon Suk Yeol’s People Power Party to return 39.7 billion won (US$27.1 million) in election expenses reimbursed by the National Election Commission following his presidential election victory.
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South Korea’s Naver jumps 10% on Nvidia’s US$1 billion investment plan
SEOUL: Shares of South Korea’s internet giant Naver jumped more than 10 per cent on Monday after it said Nvidia would acquire US$1 billion of its new shares to finance a project to expand an AI data centre.The investment comes after the two firms and investment group Brookfield announced on Friday plans to ex
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