SEOUL: Round-up of South Korean financial markets:
South Korean shares at more than two-week high after president impeached
South Korean shares fell for a second straight session on Tuesday amid caution ahead of major central bank events at home and abroad.
The won and the benchmark bond yield were little changed.
The blue-chip KOSPI shed 19.34 points, or 0.78%, at 2,469.63 as of 0109 GMT. On Monday, it fell 0.2%.
“The market is unlikely to move meaningfully in the next couple of days due to uncertainty of the Federal Reserve’s meeting outcome,” said Han Ji-young, an analyst at Kiwoom Securities.
Investors see a quarter-point cut at the Fed’s Dec. 17-18 meeting as a near given but are bracing for the central bank to scale back its easing in 2025 in anticipation of higher inflation under the Trump administration.
The Bank of Korea later in the day will release the minutes of its latest meeting, during which the central bank delivered its first back-to-back rate cuts since 2009.
Among index heavyweights, chipmaker Samsung Electronics fell 1.80%, while peer SK Hynix gained 2.73%. Battery maker LG Energy Solution slid 3.27%.
Hyundai dropped 0.95%, while sister automaker Kia added 0.94%. Search engine Naver and instant messenger Kakao eased 0.70% and 0.34%, respectively.
Of the total 936 traded issues, 323 advanced and 563 declined.
Foreigners net sold shares worth 234.3 billion won ($163 million).
The won was quoted at 1,436.3 per US dollar on the onshore settlement platform, 0.02% lower than its previous close at 1,436.0.
In money and debt markets, December futures on three-year treasury bonds fell 0.08 point to 106.63.
The most liquid three-year Korean treasury bond yield fell 0.1 basis point to 2.561%, while the benchmark 10-year yield rose 0.4 basis point to 2.731%.
Source: Brecorder
