South Korean shares flat on caution ahead of major cenbank events

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI flat, foreigners net buyers

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Korean won weakens against dollar

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South Korea benchmark bond yield rises


SEOUL, Feb 21 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares traded flat on Tuesday, as investors refrained from making bets ahead of major monetary policy events later this week. The Korean won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI was up 5.07 points, or 0.21%, to 2,460.19 as of 0203 GMT.


** The index traded in a narrow range of between -0.4% and +0.5% during most of the early session, following a marginal move of 0.16% gain in the previous session.
** The U.S. stock market was closed on Monday for a public holiday.
** The U.S. Federal Reserve will release the minutes of its latest policy meeting this week, while the Bank of Korea is expected to keep its policy rate unchanged at its rate decision meeting on Thursday.
** South Korea's exports for the first 20 days of February fell 2.3% from the same period a year before, despite more working days.
** "There is no market driving factor seen ahead of major events due later this week," said Seo Sang-young, an analyst at Mirae Asset Securities.


** Technology giant Samsung Electronics fell 0.64% and peer SK Hynix lost 0.97%, but battery maker LG Energy Solution added 0.58%.
** Of the total 934 issues traded, 567 shares advanced.
** Foreigners were net buyers of shares worth 21.9 billion won ($16.90 million).


** The won was quoted at 1,295.9 per dollar on the onshore settlement platform , 0.11% lower than its previous close at 1,294.5.


** In money and debt markets, March futures on three-year treasury bonds fell 0.04 point to 103.50.
** The most liquid three-year Korean treasury bond yield rose by 4.6 basis points to 3.707%, while the benchmark 10-year yield rose by 4.6 basis points to 3.657%. ($1 = 1,295.5800 won) (Reporting by Jihoon Lee; Editing by Rashmi Aich)

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