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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
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For the midday report, please click SEOUL, Feb 15 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares dropped 1.5% on Wednesday, with
investors rethinking their expectations of U.S. monetary
tightening slowing after the country's higher-than-expected
inflation data.
** The benchmark KOSPI ended down 37.74 points, or 1.53%, at 2,427.90, the lowest close since Jan. 31. The Korean won weakened, while the benchmark bond yield rose.
** U.S consumer prices rose in January by 6.4% on an annual basis and logged the slowest gain since late 2021, data showed overnight, but it was still higher than the 6.2% expected by economists.
** "Investors were seen reinterpreting the data, having
focused only on positive aspects overnight," said Seo
Sang-young, an analyst at Mirae Asset Securities.
** Technology giant Samsung Electronics fell
1.58% and peer SK Hynix lost 1.82%, but battery
maker LG Energy Solution rose 0.38%.
** Financial stocks dropped after South Korea's President
Yoon Suk-yeol publicly criticised high interest income in the
banking sector. Woori Financial Group fell 3.1%,
Hana Financial Group dropped 5.44%, Shinhan
Financial Group slid 3.55% and Kakaobank declined 5.75%.
** Of the total 934 issues traded, only 110 shares advanced.
** Foreigners were net sellers of shares worth 267.1 billion
won ($208.14 million).
** The won ended onshore trade 1.00% lower at
1,282.2 per dollar, after hitting its lowest level since Dec.
23, 2022 at 1,284.7.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.28 points to 104.14.
** The most liquid three-year Korean treasury bond yield
rose by 6.8 basis points (bps) to 3.497%, while the benchmark
10-year yield rose by 6.1 bps to 3.459%.
($1 = 1,283.3000 won)
(Reporting by Jihoon Lee; Editing by Janane Venkatraman)
