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Reporter : Lee Min-hyung
Sat, December 9, 2023 | 06:54
KB expands presence in Cambodia via merger of 2 affiliates
KB Kookmin Bank is expanding its presence in Cambodia by merging its two affiliates there - Prasac Microfinance Institution and Kookmin Bank Cambodia. KB aims to intensify rivalry against the country's market leader ABA Bank. The combined net profit of Prasac and Kookmin Bank Cambodia is the second-largest following that of ABA in the Southeast Asian country in the first half.
Hong Kong linked ELF, ELT loss feared to snowball
Fears are mounting over the falling revenues of equity-linked funds (ELF) and equity-linked trusts (ELT) tracking Hong Kong's H-Shares Index after some of them - sold by Korean banks - incurred losses of around 4.03 billion won ($3.16 million).
Credit card firms report dismal earnings amid prolonged rate hikes
Most Korean credit card companies reported dismal earnings performances in the first half of this year, as they have had to expand purchasing costs and set aside more allowances for bad debts amid prolonged rate hikes.
Investors in panic over rollercoaster ride of secondary battery stocks
Investors are in a panic over the volatile ups and downs of Korea's secondary battery stocks after some trending companies - such as EcoPro and POSCO Holdings - recently suffered abrupt losses following a weeks-long super rally. Most battery materials stocks achieved surprising gains on Friday following overnight losses, which rang alarm bells, particularly to retail investor...
KB beats Shinhan in 1st half earnings to retain top position
KB Financial Group outperformed Shinhan Financial Group in first-half net profits on the back of increased interest revenues and the solid growth of non-banking affiliates, regulatory filings from the two companies showed Thursday.
Finda attracts $37 mil. investment from JB Financial, 500 Global
Finda, a loan comparison platform operator, has attracted investment worth 47 billion won ($36.94 million) from JB Financial Group and 500 Global, the fintech startup said Thursday.
Overheated Kosdaq market stokes concerns of a bubble
Korea's secondary Kosdaq market is at risk of losing steam amid unhealthy signs of overheating triggered by a sharp rally in the prices of three red-hot battery materials stocks, analysts said.
Portfolio manager urges investors to bet on stable US stocks amid economic uncertainty
Investors are urged to bet on blue-chip U.S. stocks with solid fundamentals at this cycle of corporate earnings slowdown, global asset management firm AllianceBernstein said Wednesday. “Even if the global stock market dispelled once-prevalent pessimism early this year by achieving a strong rally in the first half, investors should be reminded that the market is still surround...
Asset management firms launch Japanese investment products
Korean asset management companies are moving to launch investment products that focus on the Japanese market in line with the country's roaring stock sentiment.
POSCO steals limelight from EcoPro in stock rally
POSCO Holdings stole the limelight from EcoPro as the most-sought-after battery stock here, achieving a surprisingly sharp rally on hopes for deeper expansion into the promising battery materials industry.