SEOUL: Round-up of South Korean financial markets:
South Korean shares rose on Monday, with focus on key U.S. inflation reading due later this week, which could bolster expectations for more interest rate cuts in the months ahead. The won weakened, while the benchmark bond yield rose.
The benchmark KOSPI rose 3.35 points, or 0.13%, to 2,596.72 by 01:31 GMT.
Among index heavyweights, chipmaker Samsung Electronics rose 0.16% and peer SK Hynix gained 3.12%, while battery maker LG Energy Solution climbed 0.13%.
South Korea’s exports for the first 20 days of September declined 1.1% from a year earlier.
Central banks of Switzerland and Sweden meet on Thursday and Wednesday, respectively, and are expected to cut rates.
In the U.S., data coming this week includes reports on manufacturing, consumer confidence and durable goods, as well as the personal consumption expenditures price index, a key inflation measure.
South Korean shares gain more than 1% as chip, auto stocks jump
Hyundai Motor shed 1.00% and sister automaker Kia Corp lost 1.80%, while search engine Naver and instant messenger Kakao rose 0.25%
and up 0.29%, respectively.
Of the total 931 traded issues, 426 shares advanced, while 447 declined.
Foreigners were net sellers of shares worth 367.8 billion won ($275.71 million).
The won was quoted at 1,336.3 per dollar on the onshore settlement platform, 0.25% lower than its previous close.
The KOSPI has fallen 2.21% so far this year, and gained 6.2% in the previous 30 trading sessions.
The won has lost 3.6% against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds fell 0.07 point to 106.25.
The most liquid three-year Korean treasury bond yield rose by 1.8 basis points to 2.854%, while the benchmark 10-year yield rose by 2.6 basis points to 3.015%.
Source: Brecorder
