SEOUL: Round-up of South Korean financial markets:
South Korean shares rose on Monday as local battery suppliers of Tesla gained after the EV market leader’s rally last week. The won weakened, while the benchmark bond yield rose.
The benchmark KOSPI rose 11.60 points, or 0.45%, to 2,594.87 by 02:17 GMT.
Among index heavyweights, chipmaker Samsung Electronics rose 2.33% and peer SK Hynix lost 1.19%, while Tesla battery suppliers LG Energy Solution and LG Chem rose 0.9% and 4.6%, respectively.
Related Post
LG Energy Solution posted a 39% drop in quarterly profit, but shares rose as the result beat analysts’ estimates.
Hyundai shed 0.44% and sister automaker Kia gained 3.02%, while search engine Naver and instant messenger Kakao added 0.83% and 0.82%,
respectively.
South Korean shares rise as chipmaker SK Hynix extends gains; set for weekly loss
Tesla closed nearly 22% higher on Thursday, its biggest single-day gain in over a decade, as CEO Elon Musk’s bold forecast of surging sales reassured investors that he was still looking to grow the core business of selling electric cars.
Korea Zinc secured 9.85% of its shares in a buyback it launched to block shareholders from selling stakes to its top investor Young Poong and private equity firm MBK.
Foreigners were net sellers of shares worth 52.4 billion won ($37.8 million) on the main board.
The won was quoted at 1,390.1 per U.S. dollar on the onshore settlement platform, 0.06% lower than its previous close at 1,389.2.
The KOSPI has fallen 2.28% so far this year but gained 0.3% in the previous 30 trading sessions.
The won has lost 7.3% against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds fell 0.15 point to 105.85.
The most liquid three-year Korean treasury bond yield rose by 5.5 basis points to 2.933%, while the benchmark 10-year yield rose by 6.3 basis points to 3.113%.
Source: Brecorder
