KOSPI rises, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
For the midday report, please click
SEOUL, – Round-up of South Korean financial markets:
** South Korean shares rose on Wednesday to their highest in nearly four years, as optimism grew around the country’s trade negotiations with Washington amid a flurry of U.S. visits by government officials and business leaders.
** The benchmark KOSPI closed up 23.90 points, or 0.74%, at 3,254.47, its highest closing since August 9, 2021.
** Three South Korean cabinet-level officials met U.S. Commerce Secretary Howard Lutnick in Washington in a push to close a trade deal, Seoul said on Wednesday, squaring off with a key U.S. official driving a hard bargain just ahead of a deadline.
** Samsung Electronics Chairman Jay Y. Lee, Hanwha Group Vice Chairman Kim Dong-kwan and Hyundai Motor Group Executive Chair Euisun Chung are also visiting Washington, according to media reports.
** “This kind of move was not seen in other cases of negotiations with Japan and the European Union. It raises hopes that cooperation in key sectors of shipbuilding, semiconductors and automobiles will be South Korea’s unique negotiation card,” said Lee Kyoung-min, an analyst at Daishin Securities.
** Among index heavyweights, chipmaker Samsung Electronics rose 2.83%, while peer SK Hynix gained 0.38%. Battery maker LG Energy Solution climbed 0.26%.
** Hyundai Motor and sister automaker Kia Corp were up 2.29% and up 4.45%, respectively. Steelmaker POSCO Holdings shed 1.11%, while drugmaker Samsung BioLogics rose 0.92%.
** Of the total 935 traded issues, 476 shares advanced, while 408 declined.
** Foreigners were net buyers of shares worth 578.5 billion won .
** The won was quoted at 1,382.0 per dollar on the onshore settlement platform, 0.56% higher than its previous close at 1,389.7.
** The most liquid three-year Korean treasury bond yield fell 0.2 basis points to 2.455%, while the benchmark 10-year yield fell 3.7 basis points to 2.795%.
This article was generated from an automated news agency feed without modifications to text.
