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KOSPI falls, ends Jan more than 8% higher
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Korean won weakens, posts fourth monthly gain
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South Korea benchmark bond yield rises
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For the midday report, please click SEOUL, Jan 31 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares ended 1% lower on Tuesday led by
heavyweight chipmakers, but still ended January with their
biggest monthly gain in two years.
** The Korean won weakened but it also logged its longest
run of monthly gains in two years, while the benchmark bond
yield rose.
** The benchmark KOSPI closed 25.39 points, or
1.00%, lower at 2,425.08. It ended 8.44% higher this month, its
fastest monthly rise since December 2020.
** "Caution ahead of U.S. Federal Reserve's policy meeting
and a sharp fall of Samsung Electronics weighed on the benchmark
index," Mirae Asset Securities analyst Kim Seok-hwan said.
** Samsung Electronics said it would not cut its investment
in chips, and "it reduced investor hopes for a rebound in chip
prices," Kim said.
** Cuts in capital investment and production are usually
seen as an upside factor for chipmaker stocks, as they tend to
raise chip prices and earnings.
** Samsung Electronics fell 3.63% and logged its
worst session in three months. Peer SK Hynix lost
2.43%.
** The chipmakers still ended January up 10.31% and 18%,
respectively.
** Most other heavyweights also fell, including automakers
and online service providers, but battery maker LG Energy
Solution rose 2.16%. Of the total 933 issues traded,
501 shares advanced.
** Foreigners were net sellers of shares worth 484.9 billion
won ($393.43 million). Still, they notched a monthly purchase of
6.33 trillion won, the biggest since September 2013.
** The won ended onshore trade 0.37% lower at
1,231.9 per dollar. It ended the month up 2.64%, extending its
run of monthly gains to a fourth month - the longest since
December 2020.
** March futures on three-year treasury bonds fell
0.15 point to 104.80.
** The most liquid three-year Korean treasury bond yield
rose 6.3 basis points (bps) to 3.334%, while the benchmark
10-year yield rose 7.9 bps to 3.318%.
($1 = 1,232.5000 won)
(Reporting by Jihoon Lee; Editing by Rashmi Aich)
