*
KOSPI rises, foreigners net buyers
*
Korean won weakens against dollar
*
South Korea benchmark bond yield rises
*
For the midday report, please click SEOUL, Feb 8 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares jumped on Wednesday as investors were
relieved after U.S. Federal Reserve Chair Jerome Powell stuck to
his stance despite last week's strong jobs data, with technology
heavyweights rallying on optimism around artificial intelligence
(AI).
** The Korean won weakened, while the benchmark bond yield
climbed.
** The benchmark KOSPI rose 31.93 points, or 1.30%,
to 2,483.64 by the close of the session. The index posted its
fastest daily rise since Jan. 26.
** Semiconductor and online platform stocks led the gains.
Samsung Electronics and SK Hynix rose
1.94% and 4.52%, respectively, while Naver and Kakao added 5.01% and 1.62%, respectively.
** "A global boom in AI stocks spilled over from software
developers to chipmakers on expectations for an increase in
demand, while Naver jumped on hopes for its own ChatGPT-type
search engine," said Choi Yoo-june, an analyst at Shinhan
Securities.
** The rally followed a jump in the tech-heavy Nasdaq after Microsoft said it would revamp its search
engine with artificial intelligence chatbot ChatGPT.
** Friday's blockbuster jobs report showed why the battle
against inflation will "take quite a bit of time," Powell said
on Tuesday. Investor focus was tuned to his repeated uses of the
phrase "disinflation."
** Of the total 934 issues traded, 593 shares gained.
** Foreigners were net buyers of shares worth 578.8 billion
won ($459.31 million).
** The won ended onshore trade at 1,260.1 per
dollar, 0.38% lower than its previous close.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.04 point to 104.69.
** The most liquid three-year Korean treasury bond yield
rose by 0.7 basis point to 3.343%, while the benchmark 10-year
yield rose by 1.9 basis points to 3.322%.
($1 = 1,260.1400 won)
(Reporting by Jihoon Lee; Editing by Subhranshu Sahu)
