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KOSPI rises, foreigners net buyers
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Korean won weakens against dollar
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South Korea benchmark bond yield falls
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For the midday report, please click SEOUL, Feb 3 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares rose on Friday, lifted by online
platform operators, but ended the week lower for the first time
this year.
** The Korean won weakened but posted its fourth weekly
gain, while the benchmark bond yield hit a six-month low.
** The benchmark KOSPI rose 11.52 points, or 0.47%,
to 2,480.40 by the close of the session.
** The KOSPI ended 0.15% lower than a week before, snapping
a four-week rising streak.
** "The benchmark index rebounded after a jump in China's
services sector data raised hopes for 'with-COVID' effects,"
said Seo Sang-young, an analyst at Mirae Asset Securities, who
also noted U.S. employment data, due in U.S. trading hours, as a
factor behind investor caution.
** U.S. job growth likely remained strong in January amid a
persistently resilient labour market, but an anticipated further
slowdown in wage gains should give the Federal Reserve some
comfort in its fight against inflation.
** Search engine Naver jumped 5.67% after it
reported higher fourth-quarter revenue. Instant messenger Kakao rose 4.19%, with both stocks hitting their highest
levels since mid-September 2022.
** Technology giant Samsung Electronics rose
0.47%, peer SK Hynix lost 1.28%, while battery maker
LG Energy Solution added 0.38%.
** Of the total 934 issues traded, 405 shares advanced.
** Foreigners were net buyers of shares worth 585.8 billion
won ($476.5 million).
** The won ended onshore trade at 1,229.4 per dollar, 0.74% lower than its previous close.
** The currency ended the week 0.16% higher, extending its
run of weekly gains to a four - the longest since mid-April
2021.
** In money and debt markets, March futures on three-year
treasury bonds rose 0.20 points to 105.30.
** The most liquid three-year Korean treasury bond yield
fell as much as 8.1 basis points to 3.100% and the benchmark
10-year yield as much as 7.9 basis points to 3.128%, both
touching their lowest levels since mid-August 2022.
($1 = 1,229.4400 won)
(Reporting by Jihoon Lee; Editing by Savio D'Souza)
