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KOSPI rises, foreigners net buyers
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Korean won slightly up against dollar
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South Korea benchmark bond yield falls
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For the midday report, please click SEOUL, Feb 1 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares ended 1% higher on Wednesday, as
chipmakers rebounded from the previous sessions' sharp losses,
with investors also eying the U.S. Federal Reserve's meeting
outcome.
** The Korean won was up marginally, while the benchmark
bond yield dropped.
** The benchmark KOSPI rose 24.72 points, or 1.02%,
to 2,449.80 by the close of the session.
** SK Hynix jumped 3.28%, even after the
chipmaker reported a record quarterly operating loss and said
the semiconductor industry downturn would worsen in the first
half. Its bigger rival Samsung Electronics rose
1.31%.
** The chipmakers had slumped a day before, triggered by
signals from Samsung Electronics that it would not cut its
investment in chips to prop up falling prices.
** The stock market's gains came even as data showed South
Korea's January trade deficit soared to a record thanks to a
plunge in exports caused by a combination of long holidays and
cooling global demand.
** Meanwhile, investors are also awaiting the U.S. Federal
Reserve's policy decision due later in the day, with more focus
on its Chair Jerome Powell's news conference.
** "Weaker economic data will only strengthen investors'
hopes for bottoming out, and there is a belief that the market
will remain robust even if Powell speaks in a hawkish tone, with
the Fed's tightening expected to end soon," said Huh Jae-hwan,
an analyst at Eugene Investment and Securities.
** Most heavyweights rose, including battery makers,
automakers, and online service providers. Of the total 934
issues traded, 513 shares advanced.
** Foreigners were net buyers of shares worth 195.8 billion
won ($159.13 million).
** The won ended onshore trade at 1,231.3 per dollar, 0.05% higher than its previous close at 1,231.9.
** In money and debt markets, March futures on three-year
treasury bonds rose 0.11 point to 104.91.
** The most liquid three-year Korean treasury bond yield
fell by 7.1 basis points to 3.263%, while the benchmark 10-year
yield fell by 7.9 basis points to 3.239%.
($1 = 1,230.4300 won)
(Reporting by Jihoon Lee)
