S.Korean shares rise as Fed minutes, BOK decision come in as expected

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI rises, foreigners net sellers

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Korean won slightly down against dollar

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South Korea benchmark bond yield inched down


SEOUL, Feb 23 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose on Thursday as minutes from the U.S. Federal Reserve's latest policy meeting and the Bank of Korea's interest-rate decision were on expected lines.
** The benchmark KOSPI was up by 10.12 points, or 0.40%, to 2,427.80 as of 0106 GMT, after rising as much as 0.85% in early trade.


** Nearly all Fed policymakers rallied behind a decision to further slow the pace of interest rate hikes at the U.S. central bank's last policy meeting, the minutes showed overnight.
** The BOK kept interest rates unchanged on Thursday, matching market expectations and ending an uninterrupted one-year run of rises.
** "The market cut some early gains on caution that the BOK may continue its hawkish tone due to still high inflation," said Huh Jae-hwan, an analyst at Eugene Investment and Securities.
** Technology giant Samsung Electronics rose 0.82%, peer SK Hynix gained 2.13%, and battery maker LG Energy Solution added 0.39%.
** But, including those market heavyweights, only 360 shares advanced among 932 traded issues.


** Foreigners were net sellers of shares worth 40.7 billion won ($31.17 million).


** The won was quoted at 1,305.1 per dollar on the onshore settlement platform , 0.02% lower.


** In money and debt markets, March futures on three-year treasury bonds fell 0.04 point to 103.62.
** The most liquid three-year Korean treasury bond yield fell by 0.6 basis point to 3.650%, while the benchmark 10-year yield fell by 1.5 basis points to 3.631%. ($1 = 1,305.6000 won) (Reporting by Jihoon Lee; editing by Uttaresh.V)

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