Naver Financial, the fintech subsidiary of Korea's leading portal operator Naver, on Wednesday decided to acquire Dunamu, the operator of the country's largest cryptocurrency exchange Upbit, as a wholly owned subsidiary, the company said.
In the wake of a sharp drop on Wall Street overnight, shares opened under heavy pressure from the outset amid renewed valuation concerns over AI equities.
Korean stocks set a fresh record high Wednesday on hopes for the Seoul-Washington summit and a potential supply deal with Nvidia. The local currency was trading higher against the U.S. dollar.
Shares opened higher Wednesday, tracking gains on Wall Street amid the growing optimism over the AI sector. The benchmark Kospi rose 0.48 percent, or 19.16 points, to 4,029.57 in the first 15 minutes of trading.
Hana said on Tuesday that it will repurchase and cancel an additional 150 billion won ($104 million) of its own shares in the fourth quarter after reporting higher year-on-year operating income but a drop in revenue and net profit in the third one.
Shares returned earlier gains to close lower Tuesday amid renewed woes over a trade war between the United States and China. The local currency fell against the greenback.
Shares started lower Friday on escalating concerns over protracted tariff negotiations with the United States. The Kospi lost 32.73 points, or 0.94 percent, to 3,438.38 in the first 15 minutes of trading.
Shares opened lower Thursday, led by losses in large-cap semiconductor shares, as investors remained cautious over the Korean won's weakness and Federal Reserve Chair Jerome Powell's comments on the "highly valued" stock market.
Shares opened lower Wednesday as investors sat on the sidelines after U.S. Federal Reserve Chair Jerome Powell said the recent stock prices are "fairly highly valued."
The Kospi lost 16.06 points, or 0.46 percent, to close at 3,445.24, a day after hitting a record high of 3,461.3, as investors cashed in on the recent rally.
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