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Seoul shares snap 6-day winning streak on profit-taking; won sharply down

This photo taken on Friday shows the trading room of Hana Bank in central Seoul, with the benchmark Korea Composite Stock Price Index down 1 percent to close at 6,244.13. Photo by Yonhap

Seoul shares closed lower Friday, snapping a six-session winning streak as investors locked in profits in technology and other large-cap stocks following recent gains. The Korean won sharply fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 63.14 points, or 1 percent, to finish at 6,244.13. The index still enjoyed a weekly gain of 7.5 percent.

Trading volume was heavy at 1.14 billion shares worth 52.94 trillion won (US$36.8 billion), with decliners far outnumbering gainers 625 to 264.

The KOSPI has remained in a bullish phase since the start of the year, surpassing the 4,500-point level for the first time on Jan. 6 and crossing the 5,000-point mark on Jan. 27. It broke through the 6,000-point level Wednesday, less than a month later.

On Thursday, the index jumped 3.67 percent to finish at a record high of 6,307.27.

Institutional and retail investors purchased a net 491.99 billion won and 6.08 trillion won worth of shares, respectively, while foreign investors sold a net 6.83 trillion won.

Analysts said the decline mirrored overnight losses in U.S. technology stocks, where investors engaged in profit-taking despite strong earnings from Nvidia Corp.

The tech-heavy Nasdaq Composite fell 1.18 percent, while the Dow Jones Industrial Average edged up 0.03 percent.

“Some investors sold shares to lock in profits after the market had rallied sharply over the past six sessions,” Lee Seong-hoon, an analyst at Kiwoom Securities Co., said.

Technology stocks led the declines.

Market bellwether Samsung Electronics fell 0.69 percent to 216,500 won, and its chipmaking rival SK hynix declined 3.46 percent to 1,061,000 won.

Leading shipbuilder HD Hyundai dropped 1.02 percent to 292,500 won, and leading shipping firm HMM shed 4.26 percent to 21,350 won.

Among gainers, top carmaker Hyundai Motor jumped 10.67 percent to an all-time high of 674,000 won, and defense firm Hanwha Aerospace climbed 0.08 percent to 1,195,000 won.

Leading steelmaker POSCO Holdings jumped 1.35 percent to 413,000 won, and No. 2 steelmaker Hyundai Steel surged 19.85 percent to 46,500 won.

The Korean won was quoted at 1,439.70 won against the U.S. dollar at 3:30 p.m., down 13.9 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 2.1 basis points to 3.041 percent, and the return on the benchmark five-year government bonds declined 3.6 basis points to 3.278 percent.

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Per-borrower household debt tops 97.39 million won as rules tighten

Trend in household loan balances per borrower in South Korea. Data from Bank of Korea. Apartment buildings in Seoul, where rising home prices have fueled mortgage borrowing. Graphic by Asia Today and translated by UPI

Feb. 24 (Asia Today) — Average household debt per borrower in South Korea rose to a record 97.39 million won ($73,000) at the end of last year, as mortgage lending expanded amid rising home prices, according to data released Monday by the Bank of Korea.

The figure marked the first time per-borrower debt has exceeded 97 million won, up 2.24 million won ($1,680) from a year earlier. Total household loan balances reached about 1,853 trillion won ($1.39 trillion), an increase of 51 trillion won ($38.3 billion) from the previous year.

The central bank said the average rose as overall loan balances increased while the number of borrowers declined slightly, pointing to a growing concentration of debt.

Mortgage loans accounted for much of the increase, particularly among borrowers in their 20s to 40s. The average mortgage balance for borrowers in their 30s climbed to 225.41 million won ($169,000), the highest among age groups.

Loans were concentrated in the Seoul metropolitan area, where home prices continued to rise. According to the Korea Real Estate Board, apartment prices in Seoul increased 13.5% last year, the steepest gain since 2021.

Despite a slowdown in new lending following the government’s Oct. 15 real estate measures, authorities are moving to tighten controls further as household debt approaches 2,000 trillion won ($1.5 trillion), a level widely viewed as a risk to economic stability.

The Financial Services Commission has said it will set a lower annual loan growth target than last year’s 1.8% and is considering imposing separate caps on mortgage lending, the core component of total loan management.

Regulators are also reviewing a plan to raise risk-weighted asset ratios on mortgage loans from 20% to 25%, a move that would effectively make banks more cautious in extending housing credit.

Major commercial banks have already begun reducing household loan balances in line with regulatory guidance. As of Sunday, the combined household loan balance of the five largest banks stood at 765.6 trillion won ($574 billion), down about 200 billion won ($150 million) from the end of January.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260224010007193

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Why the BNP won Bangladesh’s post-uprising election | Bangladesh Election 2026

In the end, the 13th parliamentary election in Bangladesh was not a revolution. It was a reckoning.

When the ballots were counted, the Bangladesh Nationalist Party (BNP) had secured a decisive victory, returning to power after years in the political wilderness under Sheikh Hasina’s 15-year rule.

Most headlines framed it as a dramatic comeback, and rightfully so. But beneath the surface, this was less a tidal wave of voter choice than a carefully navigated current. This was a contest shaped by frustration and the arithmetic of first-past-the-post (FPTP).

To understand why BNP prevailed, one must first dispense with the lazy narrative that this was a Jamaat moment squandered. When the results became clear, Bangladesh Jamaat-e-Islami (JI) secured 68 seats, while the Jamaat-led bloc secured 77 seats in parliament. That is no small feat for a party whose previous best parliamentary showing was just 18 seats in 1991. Many analysts had suggested Jamaat’s support had grown in the run-up to the poll, and the data vindicated that claim. But in an FPTP system, a swelling vote share does not automatically translate into 151 seats out of 300 elected constituencies.

This election was not driven by any momentous revolution, even though it came on the back of a mass uprising that toppled Hasina’s autocracy in August 2024. But there was no deep ideological rupture, and no permanent reordering of voter loyalties, at least not on a scale that would rupture the very fabric of the country’s electoral mindset.

And of course, it was not a national wave election, in which a single mood sweeps towards a particular party across class, gender and region. What unfolded was a hybrid: Largely a normal election with significant deviations, but a predictable outcome.

Party loyalists mostly stayed home. Swing voters mattered. And in pockets of the country, frustration with BNP’s local leadership triggered temporary defections – many of them to Jamaat or NCP.

The anger was real. After August 5, BNP’s grassroots machinery performed abysmally. Petty leaders across districts were accused of corruption and extortion. In rural market towns and urban peripheries, resentment simmered.

Voters were not merely disappointed; they were, to use the language heard in tea stalls and union parishad courtyards, “really, really pissed off”. That fury explains Jamaat’s surge. A portion of BNP loyalists and a significant share of swing voters drifted towards the promise of an “honest alternative”.

But drift is not destiny.

BNP’s base, historically broader and organisationally deeper than Jamaat’s, did not collapse. Even after defections, it remained numerically larger. BNP’s nomination strategy proved unexpectedly shrewd.

Where Jamaat fielded relatively unknown but ideologically trusted figures, BNP leaned on its old guard – candidates with entrenched name recognition and dense informal networks.

That mattered, particularly in rural Bangladesh. Urban, educated voters may be thrilled by the rhetoric of ethical governance. For them, the idea of an incorruptible, ideologically disciplined candidate resonates as a moral reset.

But rural voters are pragmatic actors. They operate within intricate patronage webs. An MP is not an abstraction; he (and it is usually he) is a broker of safety nets, jobs, stability and dispute resolution. Honesty, in isolation, does not guarantee access. Familiarity does.

Thus emerged the central voter dilemma. Disgusted with BNP’s excesses, many considered a switch. In constituencies where Jamaat fielded a well-known leader, some made it. But elsewhere, voters encountered candidates they did not know, whose “honesty” they could not verify, and whose party offered little beyond moral branding.

Faced with uncertainty, they chose the “devil” they knew.

Jamaat compounded its structural limitations with strategic missteps. Its awkward posture on women’s issues – oscillating between reassurance and dog whistles – failed to convince large segments of female voters who have, over decades, carved out expanding public roles.

Bangladesh’s social transformation is not cosmetic, and women are central to its labour force, education system and microcredit economy. A party that cannot articulate a credible vision for gender equality cannot win a national wave.

More damaging was Jamaat’s revisionist flirtation with the memory of 1971. The Liberation War is the country’s moral founding document. Attempts to soften or reinterpret Jamaat’s historical role alienated voters far beyond the secular-liberal elite.

Even conservative families drew red lines around 1971. The prevailing mode of public sentiment was probably blunt: One may forgive; one does not forget.

Yet Jamaat’s performance was still historic. Jamaat-e-Islami and its allied coalition secured 77 seats, a testament not only to its disciplined cadre but also to BNP’s own misdeeds. Extortion scandals and local arrogance pushed voters into Jamaat’s arms.

In a tightly contested FPTP landscape, even a few percentage points can flip dozens of seats. Jamaat capitalised on that anger with precision in Rajshahi, Khulna and Rangpur divisions, where its organisational muscle is strongest.

But precision is not the same as breadth. Jamaat’s surge remained regionally concentrated. Its support varied sharply by class, gender, education and age. That is the opposite of a wave election. Without uniform national momentum, being a victor in FPTP is not an easy task.

Then there was the ghost in the machine: The Awami League (AL). Much commentary underestimated its residual vote. Surveys suggested a hardcore 5 to 7 percent would never defect, but beyond that lay a larger bloc – perhaps 20 to 25 percent – either undecided or unwilling to disclose preferences. In this election, that particular bloc mattered a lot.

Pre-election field research and multiple polls indicated that many non-hardcore AL voters were breaking towards the BNP – probably not out of ideological alignment but out of instrumental rationality. They believed BNP would form the government and wanted access to services through the winning MP.

In areas where BNP’s old guard had harassed AL supporters, some abstained or flirted with Jamaat. But nationally, the gravitational pull favoured BNP. Voters wanted to be on the side of the winner. Perception became a self-fulfilling prophecy.

The four plausible scenarios before election day clarified the stakes. Without significant AL turnout, BNP would likely secure a plurality in a tight race. With moderate AL support, it would win a comfortable majority. With overwhelming AL backing, even a two-thirds majority was conceivable. Only a full-blown Jamaat wave – a cross-class, cross-gender national embrace – could have reversed the equation.

That wave never materialised.

BNP’s victory, then, is a product of structural advantage, strategic candidate selection and the rational calculations of the country’s traditional voters. It was aided by Jamaat’s self-inflicted wounds on women’s rights and historical memory. It was enabled, paradoxically, by BNP’s own local misconduct, which inflated Jamaat’s vote share but not enough to overcome FPTP mathematics.

One more footnote of this election deserves attention: The emergence of the National Citizen Party (NCP), which captured five seats. For a new party born out of an uprising, in the highly polarised political environment of the South Asian nation, that is no small accomplishment.

It signals a hunger, however modest, for alternatives outside the new binary of BNP and Jamaat. Under proportional representation, such a party might flourish. Under FPTP, five seats is both a breakthrough and a ceiling.

Bangladesh’s 13th parliamentary election was, in the end, a story of limits: The limits of anger, the limits of moral branding, the limits of revisionism, and the enduring power of organisational depth in a winner-take-all system.

BNP won not because it inspired a nation, but because it understood it.

The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.

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How many Super Bowls have the Seattle Seahawks won?

The Seattle Seahawks defeated the New England Patriots 29-13 in Super Bowl LX.

This is the second time the Seahawks hoisted the Lombardi Trophy in four visits to the NFL’s championship game.

After joining the NFL as an expansion team in 1976, the Seahawks didn’t make it to the big game until Super Bowl XL following the 2005 season. Coached by Mike Holmgren and led by quarterback Matt Hasselbeck, Seattle went 13-3 during the regular season and defeated Washington and Carolina in the playoffs.

In the Super Bowl, the Seahawks gave up a 75-yard touchdown run to Pittsburgh Steelers running back Willie Parker to fall behind 14-3 early in the third quarter. Seattle closed the gap with a 16-yard touchdown pass from Hasselbeck to Jerramy Stevens, but Pittsburgh got a touchdown on a trick play — a 43-yard pass from Antwaan Randle El to fellow receiver Hines Ward — midway through the fourth quarter to help seal a 21-10 win.

The Seahawks’ next visit to the big game came following the 2013 season. They went 13-3 and defeated New Orleans and San Francisco in the playoffs before facing the Denver Broncos in Super Bowl XLVIII.

It was no contest. Seahawks running back Marshawn Lynch had a touchdown run. Quarterback Russell Wilson had touchdown passes to Jermaine Kearse and Doug Baldwin. Malcolm Smith had a pick-six. Percy Harvin scored on a kickoff return. And coach Pete Carroll led Seattle to a 43-8 victory and its first Super Bowl championship.

The Seahawks came painfully close to becoming back-to-back champions. They went 12-4 during the 2014 season and defeated Carolina and Green Bay in the playoffs before facing the Patriots in Super Bowl XLIX.

After a 14-14 halftime tie, the Seahawks took a 10-point lead in the third quarter, only for the Patriots to score two touchdowns in the fourth for a 28-24 advantage just before the two-minute warning. Wilson led the Seahawks 79 yards on the ensuing drive — but they needed 80 yards.

On first and goal from the Patriots’ one-yard line with 26 seconds remaining, Wilson’s pass for Ricardo Lockette was intercepted by Patriots rookie Malcolm Butler to seal the win for New England.

The Seahawks didn’t return to the Super Bowl until this year. Coach Mike Macdonald and quarterback Sam Darnold led Seattle to a 14-3 record and wins over San Francisco and the Rams in the playoffs.

Kicker Jason Myers was responsible for all of the scoring in the first three quarters, connecting on four field goals for a 12-0 Seattle lead. The Seahawks scored on a 16-yard touchdown pass from Sam Darnold to AJ Barner for a 19-0 lead early in the fourth quarter. Myers made Super Bowl history with his fifth field goal, and teammate Uchenna Nwosu scored on a 45-yard interception return.

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Samsung becomes first Korean stock to top 1,000 trillion won in value

Samsung Electronics Executive Chairman Lee Jae-yong smiles during a meeting with South Korean President Lee Jae Myung and Nvidia founder and CEO Jensen Huang on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, 31 October 2025. File. Photo by JUNG YEON-JE / EPA

Feb. 4 (Asia Today) — Samsung Electronics’ common shares became the first single stock in South Korea to reach a market capitalization of 1,000 trillion won ($690.7 billion) as the benchmark KOSPI hovered near the 5,300 level.

The milestone came about two weeks after Samsung’s combined common and preferred shares exceeded 1,000 trillion won in market value.

The Korea Exchange said Samsung Electronics closed Wednesday at 169,100 won ($116.80), up 0.96% from the previous session. The shares have gained 31.6% from their closing level on Jan. 2 of 128,500 won.

Samsung opened lower, then turned higher late in the morning. After moving into positive territory in early afternoon trading, the stock set an intraday record of 169,400 won.

Individual investors bought a net 135.1 billion won ($93.3 million) of Samsung shares and institutional investors bought a net 650.2 billion won ($449.1 million), helping push the stock to the 1,000 trillion won threshold.

Analysts have linked the rally to rising memory prices amid expanding global investment in artificial intelligence infrastructure. Samsung posted 20 trillion won ($13.8 billion) in operating profit in the fourth quarter of last year, setting a quarterly record, and brokerages have forecast annual operating profit exceeding 130 trillion won ($89.8 billion) this year.

Samsung Chairman Lee Jae-yong attended a corporate roundtable on youth employment and regional investment expansion at the Blue House on Wednesday. The meeting included leaders from South Korea’s top conglomerates and marked President Lee Jae-myung’s first major gathering this year with business chiefs.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260204010001675

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