South Korean shares snap two-day slide after U.S. inflation data

Reuters · 05/11/2023 02:28
South Korean shares snap two-day slide after U.S. inflation data

KOSPI rises, foreigners buyers

Korean won strengthens against dollar

South Korea benchmark bond yield falls

- Round-up of South Korean financial markets:

** South Korean shares rebounded on Thursday after two sessions of losses, supported by benign U.S. inflation data that eased concerns about U.S. monetary policy tightening.

** The benchmark KOSPI .KS11 rose 8.43 points, or 0.34%, to 2,504.94 as of 02:07 GMT.

** Technology giant Samsung Electronics 005930.KS rose 0.15% and peer SK Hynix 000660.KS lost 0.12%, while battery maker LG Energy Solution 373220.KS declined 1.94%.

** Of the total 930 issues traded, 611 shares gained.

** Foreigners were buyers of shares worth 55.7 billion won ($42.17 million).

** The won was quoted at 1,320.3 per dollar on the onshore settlement platform KRW=KFTC, 0.34% higher than its previous close at 1,324.8.

** In offshore trading, the won KRW= was quoted at 1,320.6 per dollar, down 0.2% on the day, while in -deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,318.0.

** The KOSPI has risen 12.01% so far this year, and gained 3.6% in the previous 30 trading sessions.

** The won has lost 4.2% against the dollar so far this year.

** In money and debt markets, June futures on three-year treasury bonds KTBc1 rose 0.13 points to 105.11.

** The most liquid three-year Korean treasury bond yield fell by 4.8 basis points to 3.227%, while the benchmark 10-year yield fell by 4.8 basis points to 3.296%.

($1 = 1,320.9300 won)

(Reporting by Choonsik Yoo; Editing by Rashmi Aich)