South Korean shares start week lower; Fed, Samsung earnings in focus

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls from over 5-month high

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Korean won strengthens against dollar

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South Korea benchmark bond yield rises


SEOUL, Jan 30 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell on Monday, as investors began the data- and events-heavy week with a cautious approach. The Korean won strengthened, while the benchmark bond yield rose.
** The benchmark KOSPI fell 20.11 points, or 0.81%, to 2,463.91 as of 0207 GMT. The index had hit its highest since mid-August 2022 in the last session.
** This week's major macroeconomic events and data releases include the U.S. Federal Reserve's monetary policy meeting and South Korea's trade data for this month.


** "And, the Fed's meeting outcome may not be so favourable to the market, considering recent days' different moods between markets and policymakers," said Choi Yoo-june, an analyst at Shinhan Securities.
** Investors are also eying Samsung Electronics' conference call on its fourth-quarter results and whether the release of locked-in LG Energy Solution stocks sparks volatility in the domestic market.
** Technology giant Samsung Electronics fell 1.55%, peer SK Hynix lost 1.20%, and battery maker LG Energy Solution declined 1.19%. Of the total 931 issues traded, only 282 shares advanced.
** Foreigners were net buyers of shares worth 63.2 billion won ($51.41 million), in their 18th buying session out of 19 this year. Their purchase was marginal compared with in recent sessions.
** The won was quoted at 1,228.4 per dollar on the onshore settlement platform , 0.24% higher than its previous close at 1,231.3.


** In money and debt markets, March futures on three-year treasury bonds fell 0.05 point to 104.78.
** The most liquid three-year Korean treasury bond yield rose by 1.8 basis points to 3.322%, while the benchmark 10-year yield rose by 1.4 basis points to 3.297%. ($1 = 1,229.4300 won) (Reporting by Jihoon Lee; editing by Uttaresh.V)

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