KOSPI rises 1%, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield rises
SEOUL, March 31 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares rose 1% on Friday, helped by Wall Street’s strength overnight, and were set for their biggest quarterly gain in more than two years. The Korean won strengthened, while the benchmark bond yield rose.
** The benchmark KOSPI .KS11 rose 25.56 points, or 1.04%, to 2,478.72, as of 0156 GMT, hitting its highest since mid-February and extending gains to a fourth session.
** The KOSPI has risen 2.6% so far in the week and 2.7% in the month. It has added 10.8% so far in the quarter, heading for its best quarter since the last quarter of 2020.
** “Chipmakers, automakers and IT stocks led the gains,” said analyst Park Kwang-nam at Mirae Asset Securities.
** Technology giant Samsung Electronics 005930.KS rose 1.11% and peer SK Hynix 000660.KS gained 0.11%, while battery maker LG Energy Solution 373220.KS declined 0.17%.
** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS rose 1.1% and 1.64%, respectively, while steelmaker POSCO Holdings 005490.KS jumped 12.08%.
** Of the total 936 issues traded, 500 shares rose.
** Foreigners were net buyers of shares worth 111.1 billion won ($86.04 million).
** The won was quoted at 1,294.7 per dollar on the onshore settlement platform KRW=KFTC, 0.33% higher than its previous close at 1,299.0.
** The currency was up 0.2% for the week and 2.4% for the month, but down 2.1% for the quarter.
** In money and debt markets, June futures on three-year treasury bonds KTBc1 fell 0.09 point to 104.97.
** The most liquid three-year Korean treasury bond yield rose by 2.0 basis points to 3.260%, while the benchmark 10-year yield rose by 2.3 basis points to 3.326%.
($1 = 1,291.2800 won)
(Reporting by Jihoon Lee; Editing by Subhranshu Sahu)
((jihoon.lee@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
