South Korean shares rebound, but set to end February flat

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI rises, foreigners net buyers

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Korean won strengthens against dollar

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South Korea benchmark bond yield rises


SEOUL, Feb 28 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose 1% on Tuesday, rebounding from a more than five-week low hit in the previous session, after Wall Street closed higher overnight. The Korean won strengthened, while the benchmark bond yield rose.
** The benchmark KOSPI rose 24.69 points, or 1.03%, to 2,427.33, as of 0120 GMT. The index closed the previous session at its lowest level since Jan. 19.
** The index was set to end the month flat, after an 8.44% jump in January - its best since December 2020.


** "Investors were seen buying the dip," said Seo Jung-hun, an analyst at Samsung Securities. "The market is experiencing near-term volatility."
** Technology giant Samsung Electronics rose 1.32%, peer SK Hynix gained 0.78%, and battery maker LG Energy Solution jumped 3.54%.
** Of the total 929 issues traded, 596 shares advanced.
** Foreigners were net buyers of shares worth 39.2 billion won ($29.77 million).


** The won was quoted at 1,316.3 per dollar on the onshore settlement platform , 0.51% higher than its previous close at 1,323.0.


** The currency was down 6.4% for the month, after four straight monthly gains.
** In money and debt markets, March futures on three-year treasury bonds fell 0.06 point to 103.40.
** The most liquid three-year Korean treasury bond yield rose by 5.0 basis points to 3.723%, while the benchmark 10-year yield rose by 6.8 basis points to 3.676%. ($1 = 1,316.7600 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)

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