South Korean shares fall 1% after U.S. inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls, foreigners net sellers

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Korean won weakens against dollar

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South Korea benchmark bond yield rises


SEOUL, Feb 15 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell 1% on Wednesday after some investors booked profits while gauging the impact from a rise in U.S. January inflation and the Fed's commentary that the cenbank will need to keep gradually raising interest rates. The Korean won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI fell 24.31 points, or 0.99%, to 2,441.33 as of 0212 GMT.


** U.S consumer prices accelerated in January, but the annual increase was the smallest since late 2021, pointing to a continued slowdown in inflation and likely keeping the Federal Reserve on a moderate interest rate hiking path.
** "The market took mixed implications from the data, and foreigners are seen booking profits afterwards," said Kim Seok-hwan, an analyst at Mirae Asset Securities.
** "Investors are now eyeing U.S. retail sales and factory output data to see impact from high interest rates."
** Technology giant Samsung Electronics fell 1.42% and peer SK Hynix lost 1.71%, but battery maker LG Energy Solution added 2.10%.
** Of the total 933 issues traded, only 152 shares advanced.
** Foreigners were net sellers of shares worth 212.2 billion won ($166.17 million).


** The won was quoted at 1,275.3 per dollar on the onshore settlement platform , 0.46% lower than its previous close at 1,269.4.
** In money and debt markets, March futures on three-year treasury bonds fell 0.19 point to 104.23.
** The most liquid three-year Korean treasury bond yield rose by 6.3 basis points to 3.492%, while the benchmark 10-year yield rose by 4.7 basis points to 3.445%. ($1 = 1,276.9800 won) (Reporting by Jihoon Lee; Edited by Nivedita Bhattacharjee)

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