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KOSPI jumps, foreigners net buyers
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Korean won weakens against dollar
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South Korea benchmark bond yield flat
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For the midday report, please click SEOUL, Feb 16 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares gained almost 2% on Thursday and
posted their best day in more than a month, as strong U.S.
retail sales data relieved investors' concern about high
interest rates suppressing economic activities. The Korean won
weakened, while the benchmark bond yield was flat.
** The benchmark KOSPI rose 47.58 points, or 1.96%,
to 2,475.48 by the close of the session. It was the biggest
daily gain since Jan. 9.
** U.S. retail sales increased by the most in nearly two
years in January, data showed overnight, pointing to the
economy's continued resilience despite higher borrowing costs.
** "Investors' hopes for a soft landing of the economy
became firmer after the data," said Choi Yoo-june, an analyst at
Shinhan Securities.
** Technology giant Samsung Electronics jumped
2.41%, peer SK Hynix gained 1.31%, and battery maker
LG Energy Solution climbed 4.17%.
** South Korea's biggest financial groups extended losses as
investors interpreted a call from the country's president to
share more profit with society as amounting to the strongest
political pressure in years.
** Of the total 933 issues traded, 673 shares advanced.
** Foreigners were net buyers of shares worth 18.8 billion
won ($14.63 million).
** The won ended 0.20% lower at 1,284.8 per dollar on onshore trade , after touching its lowest level since Dec. 23, 2022 at 1,288.1.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.04 points to 104.10.
** The most liquid three-year Korean treasury bond yield
rose by 0.8 basis points (bps) to 3.505%, while the benchmark
10-year yield rose by 1.4 bps to 3.476%.
($1 = 1,284.9500 won)
(Reporting by Jihoon Lee; Editing by Janane Venkatraman)
