KOSPI rises, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
SEOUL, – Round-up of South Korean financial markets:
** South Korean shares rose more than 1% on Thursday, led by heavyweight chipmakers, as the central bank raised economic growth forecasts. The won strengthened, while the benchmark bond yield fell.
** The benchmark KOSPI was up 52.42 points, or 1.32%, at 4,013.29, as of 0057 GMT.
** The Bank of Korea raised its growth forecasts to 1.0% from 0.9% for this year and to 1.8% from 1.6% for next year as the central bank held interest rates steady.
** Investors are now awaiting Governor Rhee Chang-yong’s press conference, due at 0210 GMT, for policymakers’ views on currency weakness.
** South Korea’s finance minister vowed on Wednesday to stabilise a weak won but stopped short of introducing specific policy measures to address the situation.
** South Korean exports likely grew in November as technology demand remained robust and uncertainty was cleared following a trade deal with the United States, a Reuters poll showed.
** Among index heavyweights, chipmaker Samsung Electronics rose 2.04%, while peer SK Hynix gained 5.34%. Battery maker LG Energy Solution was flat.
** Hyundai Motor and sister automaker Kia Corp were down 0.38% and 0.13%, respectively. Steelmaker POSCO Holdings shed 0.31%, while drugmaker Samsung BioLogics rose 1.33%.
** Of the total 922 traded issues, 458 shares advanced, while 386 declined.
** Foreigners were net buyers of shares worth 185.1 billion won .
** The won was quoted at 1,466.9 per dollar on the onshore settlement platform, 0.10% higher than its previous close at 1,468.3.
** In money and debt markets, December futures on three-year treasury bonds were unchanged at 105.86.
** The most liquid three-year Korean treasury bond yield fell by 0.3 basis point to 2.897%, while the benchmark 10-year yield fell by 1.0 basis point to 3.249%.
This article was generated from an automated news agency feed without modifications to text.
