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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 rises
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For the midday report, please click SEOUL, Feb 10 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares dropped on Friday and logged their
second consecutive weekly drop as investors struggled to assess
the impact of aggressive rate hikes by major central banks on
global economy.
** The country's currency won also ended the day weaker
against the dollar to post a fastest weekly loss in more than 11
years, largely on profit-taking after a four-week rally.
** On the stock market, the benchmark KOSPI ended
down 11.79 points, or 0.48%, at 2,469.73. It lost 0.43% for the
week after a 0.15% loss last week.
** "Profit-taking among individual sectors put the pressure
on the broad market as investors felt increasingly unsure about
the near-term outlook of the U.S. interest rate policy," said
Lee Kyoung-min, analyst at Daishin Securities.
** Technology giant Samsung Electronics fell
0.32% and peer SK Hynix lost 0.95%, while battery
maker LG Energy Solution declined 1.45%.
** Shares of HYBE ended 1.51% lower after
fluctuating during the session. Earlier in the day, the
entertainment company announced a plan to acquire shares in a
rival firm to strengthen its position in the K-pop industry.
** Of the total 934 issues traded, 285 shares gained.
** Foreigners were net buyers of shares worth 51.9 billion
won ($41.04 million).
** The won ended onshore trade down 0.38% at 1,265.2 per dollar, to bring its weekly decline at 2.83%.
** In offshore trading, the won was quoted at 1,264.3
per dollar, up 0.0% on the day, while in non-deliverable forward
trading its one-month contract was quoted at
1,262.6.
** The KOSPI has risen 10.43% so far this year, and gained
7.1% in the previous 30 trading sessions.
** The won lost 0.1% against the dollar so far this year.
** In money and debt markets, March futures on three-year
treasury bonds rose 0.06 points to 104.50.
** The most liquid three-year Korean treasury bond yield
fell by 0.8 basis points to 3.392%, while the benchmark 10-year
yield rose 0.4 basis points to 3.366%.
($1 = 1,264.5200 won)
(Reporting by Choonsik Yoo; Additional reporting by Younah
Moon; Editing by Sherry Jacob-Phillips)
