SEOUL: Round-up of South Korean financial markets:
South Korean won drops to lowest level since March 2009; stocks ease
South Korean shares rose on Monday, after a dip in the previous session which was the ex-dividend date for the year, but were set to end the year nearly 9% lower.
The benchmark KOSPI was up 22.83 points, or 0.95%, at 2,427.60 as of 0147 GMT, after falling 1% on Friday.
The KOSPI has declined 8.6% so far this year, after a rise of 18.7% in 2023.
South Korea’s financial markets will be closed on Tuesday and Wednesday.
Among index heavyweights, chipmaker Samsung Electronics rose 0.19% and peer SK Hynix gained 0.63%, while battery maker LG Energy Solution climbed 1.72%.
Budget carrier Jeju Air hit its lowest on record after the country’s deadliest air crash killed 179 people.
South Korea’s finance ministry said authorities would deploy more stabilisation measures if excessive herd-like behaviour was seen in financial markets.
Of the total 941 traded issues, 536 shares advanced, while 345 declined.
Foreigners were net buyers of shares worth 21.8 billion won ($14.86 million).
The won was quoted at 1,467.6 per US dollar on the onshore settlement platform, 0.20% higher than its previous close of 1,470.5.
In money and debt markets, March futures on three-year treasury bonds fell 0.03 points to 106.60.
The most liquid three-year Korean treasury bond yield fell by 2.1 basis points to 2.620%, while the benchmark 10-year yield rose by 2 basis points to 2.931%.
Source: Brecorder
