Stocks closed lower Thursday, ending a two-session rally, on investor concerns over a second wave of new coronavirus infections in the world's two largest economies. The won rose against the dollar.
SK Biopharmaceuticals is hoping for a near 1-trillion-won ($823 million) initial public offering (IPO) bonanza that will be the company's silver bullet, allowing it to secure a beachhead in the cutthroat global pharmaceutical industry.
Local banks slashed interest rates on deposits to near zero in line with the central bank's cutting off the base rate to an all-time low of 0.5 percent. Five commercial banks except for Hana cut their deposit rates last Friday.
Small local investors who jumped into Korean blue chips during the darkest days of the coronavirus crisis gained big as shares jumped despite all expectations of a bear market. The Donghak Ants, as they are known, managed to buy low.
Private equity investments and the number of private equity funds (PEF) hit all-time highs last year, after the government eased regulations in 2015, according to the Financial Supervisory Service (FSS).
Stocks snapped a three-day rally to drop more than 2 percent Monday on renewed tensions between the United States and China over the novel coronavirus pandemic. The won sharply fell against the dollar.