South Korea shares fall for third straight day, U.S. data eyed

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 rises

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For the midday report, please click SEOUL, Feb 13 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell for a third consecutive trading day on Monday on caution that U.S. inflation data due later this week could further undermine the case for an early end in the Federal Reserve's tightening campaign.
** The country's won currency sharply fell in value against the dollar while the domestic bond prices suffered modest losses, also due to concerns about U.S. monetary policy.


** The stock market's benchmark KOSPI closed down 17.03 points, or 0.69%, at 2,452.70, taking its combined losses over the past three sessions to a relatively small 1.25%.
** "It was another day dominated by caution about U.S. monetary policy outlook, although the limited scope of sell-off shows it's not a massive correction," said Huh Jae-hwan, an analyst at Eugene Investment and Securities.
** Technology giant Samsung Electronics rose 0.16% and peer SK Hynix lost 3.10%, while battery maker LG Energy Solution declined 3.69%.
** Of the total 934 issues traded, 342 shares gained.
** Foreigners were net buyers of shares worth 69.3 billion won ($54.3 million), indicating the sell-off was more sporadic.
** The won ended onshore trade at 1,277.3 per dollar, 0.95% lower than its previous close of 1,265.2.
** In offshore trading, the won was quoted at 1,276.7 per dollar, down 0.7% on the day, while in non-deliverable forward trading, its one-month contract was quoted at 1,275.5.
** The KOSPI has risen 9.67% so far this year, and gained 5.9% in the previous 30 trading sessions.
** The won has lost 1% against the dollar so far this year.
** In money and debt markets, March futures on three-year treasury bonds fell 0.18 points to 104.32.
** The most liquid three-year Korean treasury bond yield rose by 5.5 basis points to 3.453%, while the benchmark 10-year yield rose by 6.3 basis points to 3.431%. ($1 = 1,276.7000 won) (Reporting by Choonsik Yoo; Additional reporting by Younah Moon)

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