South Korean shares flat, set for first weekly loss in five

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls, foreigners net buyers

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Korean won weakens against dollar

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South Korea benchmark bond yield falls


SEOUL, Feb 3 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares were unchanged on Friday as cautious investors awaited U.S. employment data, but the benchmark index was set for its first weekly fall for this year.
** The won weakened, while the benchmark bond yield fell.
** The benchmark KOSPI was marginally down, by 2.54 points, or 0.08%, at 2,466.34 as of 0129 GMT.
** For the week so far, the KOSPI is down more than 0.5% after posting four straight weekly gains.
** "It seems there is some resistance near the latest peak, capping the upside for the index, although internet stocks tracked NASDAQ peers sharply higher," said Choi Yoo-june, an analyst at Shinhan Securities.
** Investors' focus is also on U.S. employment data due later in the day.
** Technology giant Samsung Electronics rose 0.16%, but peer SK Hynix dropped 2.14% and battery maker LG Energy Solution declined 0.19%.
** Search engine Naver jumped 5.67% after it reported its fourth-quarter results, slightly weaker than a year before. Instant messenger Kakao rose 2.79%.
** Peer tech firms in the U.S. jumped overnight, led by Meta Platforms. But most of them reversed course during after-hour trades, as Apple forecast its revenue to fall for a second quarter in a row.
** Of the total 931 issues traded, 313 shares advanced.
** Foreigners were net buyers of shares worth 126.9 billion won ($103.52 million).


** The won was quoted at 1,224.8 per dollar on the onshore settlement platform , 0.37% lower.
** The currency was up 0.4% for the week, set for its fourth straight weekly gain.


** In money and debt markets, March futures on three-year treasury bonds rose 0.22 point to 105.32.
** The most liquid three-year Korean treasury bond yield fell by 4.9 basis points to 3.132%, while the benchmark 10-year yield fell by 4.4 basis points to 3.163%. ($1 = 1,225.9000 won) (Reporting by Jihoon Lee; editing by Uttaresh.V)

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