SEOUL: Round-up of South Korean financial markets:
South Korean shares flat as market awaits Nvidia earnings
South Korean shares rose on Thursday on upbeat trade data and gains in local chip stocks after Nvidia’s strong but weaker-than-expected revenue forecast.
The won strengthened, while the benchmark bond yield fell.
The benchmark KOSPI was up 3.60 points, or 0.15%, at 2,485.89 as of 00:55 GMT.
Among index heavyweights, chipmaker Samsung Electronics rose 0.18% and peer SK Hynix gained 1.06%, while battery maker LG Energy Solution slid 0.50%.
Hyundai Motor was flat and sister automaker Kia Corp was flat, while search engine Naver and instant messenger Kakao were down 0.93% and unchanged, respectively.
Nvidia forecast its slowest revenue growth in seven quarters on Wednesday, failing to meet lofty expectations of some investors who have made it the world’s most valuable firm.
Of the total 935 traded issues, 377 shares advanced, while 474 declined.
South Korea’s exports for the first 20 days of November rose 5.8% from a year earlier, customs agency data showed.
Foreigners were net sellers of shares worth 50.8 billion won ($36.35 million).
The won was quoted at 1,397.8 per dollar on the onshore settlement platform, 0.22% higher than its previous close at 1,400.9.
In offshore trading, the won was quoted at 1,397.4 per dollar, up 0.0% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,395.4.
The KOSPI has fallen 6.38% so far this year, and lost 4.3% in the previous 30 trading sessions.
In money and debt markets, December futures on three-year treasury bonds rose 0.05 point to 106.07.
The most liquid three-year Korean treasury bond yield fell by 2.1 basis points to 2.852%, while the benchmark 10-year yield fell by 2.1 bps to 3.007%.
Source: Brecorder
