South Korean shares fall on uncertain U.S. rate policy outlook

KOSPI falls, foreigners net sellers

*

Korean won weakens against dollar

*

South Korea benchmark bond yield falls

*

For the midday report, please click SEOUL, Feb 24 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares reversed early gains to close down on Friday as investors preferred cash ahead of the weekend and amid uncertainty over the U.S. interest rate policy. The won currency also weakened, while bond prices gained.
** The stock market's benchmark KOSPI ended down 15.48 points, or 0.63%, at 2,423.61, reversing early gains of as much as 0.6%.
** Technology giant Samsung Electronics fell 1.13% and peer SK Hynix lost 1.83%, while battery maker LG Energy Solution advanced 0.79%.
** Of the total 935 issues traded, 225 shares gained.
** Foreigners were net sellers of shares worth 300.7 billion won ($230.50 million). For the week, foreigners sold a net 774.2 billion won worth, snapping a seven-week buying streak.
** On the onshore currency market, the won ended at 1,304.8 per dollar, 0.59% lower than its previous close at 1,297.1.

** In offshore trading, the won was quoted at 1,304.4 per dollar, down 0.5% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,302.6.
** The KOSPI has risen 8.37% so far this year, and gained 3.7% in the previous 30 trading sessions.
** The won has lost 3.1% against the dollar so far this year.
** In money and debt markets, March futures on three-year treasury bonds rose 0.13 points to 103.88.
** The most liquid three-year Korean treasury bond yield fell by 2.8 basis points to 3.566%, while the benchmark 10-year yield fell by 4.5 basis points to 3.543%.
($1 = 1,304.5600 won) (Reporting by Choonsik Yoo;Editing by Nivedita Bhattacharjee)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

South Korean shares fall on uncertain U.S. rate policy outlook

By Reuters

Reuters

Reuters

Bank of America sees nearly $1 trillion market cap potential for gold miners

Why gold revaluation charts put prices at $25,000-$55,000 if history rhymes, silver poised for breakout: Crescat Capital Strategist

The Federal Reserve has an opportunity to cut rates by 50 basis points and send gold well above $3,700 - abrdn’s Minter

Gold could take over the dollar’s store-of-value role as fiscal dominance overwhelms the Fed – Sprott’s Paul Wong

Fed cuts and rising inflation could see gold above $4,000, silver above $50, platinum and palladium above $1,800/oz this year – RJO Futures’ Pavilonis