Tuesday, July 31, 2012
Springhill group group loan: Seoul shares rebound on US results, banks down on ...
Springhill group group loan: Seoul shares rebound on US results, banks down on ...: http://articles.economictimes.indiatimes.com/2012-07-19/news/32747490_1_seoul-shares-rate-probe-woori-finance-holdings SEOUL: Seoul shar...
Seoul shares rebound on US results, banks down on rate probe
http://articles.economictimes.indiatimes.com/2012-07-19/news/32747490_1_seoul-shares-rate-probe-woori-finance-holdings
SEOUL: Seoul shares rebounded on Thursday from losses the previous session, tracking an overnight Wall Street rally as solid U.S. corporate earnings lifted the S&P 500 index to a two-and-a-half month high.
The Korea Composite Stock Price Index ( KOSPI) was up 1.66 percent at 1,824.63 points as of 0240 GMT. Dampening the rebound, though, were sharp falls for shares of Korean banks being probed by authorities investigating how a key interest rate has been set.
The overall market got a boost after the S&P 500 hit its highest level since early May, helped by quarterly numbers from bellwethers such as Intel Corp and Honeywell and better-than-expected U.S. housing starts.
Seoul's broad market rally lifted 17 of the 19 industry group sub-indices tracked by the main bourse operator Korea Exchange. But analysts remained cautious on whether the rally can be sustained as concerns about growth persist.
"There is a dearth of fundamental cues to make any solid bets on," said Lee Woo-jin, an analyst at Woori Investment & Securities.
Investors looking for fresh signs of further easing by the U.S. Federal Reserve were left wanting, after Chairman Ben Bernanke repeated the central bank's pledge to act if the economy needed it, but remained tight-lipped over any specific measures.
Index-giant Samsung Electronics soared 3.6 percent while SK Hynix rose 1.2 percent.
Shares in South Korea's top four banks bucked broader market trend to post steep falls on Thursday after being investigated by the Fair Trade Commission (FTC), the local anti-trust agency, as part of a widening probe into suspected collusion in fixing certificate of deposit rates.
Hana Financial slumped 3.5 percent while Woori Finance Holdings tumbled 4.1 percent. Shinhan Financial and KB Financial each declined more than 2.5 percent.
Springhill group group loan: S. Korea seeks to ease home loan rules, take stimu...
Springhill group group loan: S. Korea seeks to ease home loan rules, take stimu...: http://english.yonhapnews.co.kr/national/2012/07/22/12/0301000000AEN20120722002400315F.HTML SEOUL, July 22 (Yonhap) -- South Korea plans t...
S. Korea seeks to ease home loan rules, take stimulus steps
http://english.yonhapnews.co.kr/national/2012/07/22/12/0301000000AEN20120722002400315F.HTML
SEOUL, July 22 (Yonhap) -- South Korea plans to ease mortgage lending limits and take other measures in a bid to tackle the housing market slump and spur domestic demand, the presidential office said Sunday.
The plan, which came after a government-private meeting, calls for relaxing the so-called debt-to-income (DTI) ratio, which serves as a major tool to control housing loans by tying the maximum amount of money that home buyers can borrow to their income levels.
The current ceiling is 40-60 percent in Seoul and the surrounding Gyeonggi Province, the nation's most populous region.
"We will maintain the basic principle of DTI and plan to complement irrational parts (of the system) for those who actually want to buy houses," Kim Dae-ki, the chief presidential economic advisor, said at a briefing, without elaborating.
The growing number of people who can't afford to make payments on their home loans emerged as a major concern as policymakers brace for an economic slowdown in the wake of the eurozone debt crisis.
During the meeting, which lasted nearly 10 hours through midnight, officials and industry experts agreed to a set of measures aimed at spurring foreign investment and tax support for small and medium companies as well as eased regulations on building new hotels and resorts, participants said.
As a way to spur domestic demand, the government officials and businessmen agreed to encourage employees to use up their vacations during the summer, they said.
Kim said the finance ministry will hold a meeting on Monday with related agencies to prepare follow-up measures aimed at boosting domestic demand in Asia's fourth-largest economy.
The stimulus plan comes as South Korea's economy has been losing steam in the face of the eurozone debt crisis and a global economic slump that have made a dent in exports, the main driver of its growth.
In the second quarter, Asia's fourth-largest economy is estimated to have grown a mere 0.5 percent on-quarter, slowing from a 0.9 percent expansion in the first quarter, hit by plummeting exports.
About a week ago, the Bank of Korea downgraded its 2012 growth outlook for the economy to 3 percent from an earlier 3.5 percent, citing sinking overseas shipments. Some private economists warn that South Korea's annual growth rate could fall below 3 percent.
see more details : http://springhillgrouphome.com/
SEOUL, July 22 (Yonhap) -- South Korea plans to ease mortgage lending limits and take other measures in a bid to tackle the housing market slump and spur domestic demand, the presidential office said Sunday.
The plan, which came after a government-private meeting, calls for relaxing the so-called debt-to-income (DTI) ratio, which serves as a major tool to control housing loans by tying the maximum amount of money that home buyers can borrow to their income levels.
The current ceiling is 40-60 percent in Seoul and the surrounding Gyeonggi Province, the nation's most populous region.
"We will maintain the basic principle of DTI and plan to complement irrational parts (of the system) for those who actually want to buy houses," Kim Dae-ki, the chief presidential economic advisor, said at a briefing, without elaborating.
The growing number of people who can't afford to make payments on their home loans emerged as a major concern as policymakers brace for an economic slowdown in the wake of the eurozone debt crisis.
During the meeting, which lasted nearly 10 hours through midnight, officials and industry experts agreed to a set of measures aimed at spurring foreign investment and tax support for small and medium companies as well as eased regulations on building new hotels and resorts, participants said.
As a way to spur domestic demand, the government officials and businessmen agreed to encourage employees to use up their vacations during the summer, they said.
Kim said the finance ministry will hold a meeting on Monday with related agencies to prepare follow-up measures aimed at boosting domestic demand in Asia's fourth-largest economy.
The stimulus plan comes as South Korea's economy has been losing steam in the face of the eurozone debt crisis and a global economic slump that have made a dent in exports, the main driver of its growth.
In the second quarter, Asia's fourth-largest economy is estimated to have grown a mere 0.5 percent on-quarter, slowing from a 0.9 percent expansion in the first quarter, hit by plummeting exports.
About a week ago, the Bank of Korea downgraded its 2012 growth outlook for the economy to 3 percent from an earlier 3.5 percent, citing sinking overseas shipments. Some private economists warn that South Korea's annual growth rate could fall below 3 percent.
see more details : http://springhillgrouphome.com/
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