South Korean shares fall for second day as battery makers drag

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls, foreigners net sellers

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Korean won little changed against dollar

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South Korea benchmark bond yield flat


SEOUL, March 9 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares inched lower for a second straight session on Thursday, as battery manufacturers fell and caution prevailed ahead of U.S. employment data due on Friday. The Korean won and the benchmark bond yield were little changed.
** The benchmark KOSPI fell 6.46 points, or 0.27%, to 2,425.45, as of 0213 GMT, after rising as much as 0.51% in early trade.


** "Investors are eying U.S. employment data after Federal Reserve Chair Jerome Powell sparked market volatility," said Huh Jae-hwan, an analyst at Eugene Investment and Securities.


** U.S. private payrolls increased more than expected in February, pointing to continued labour market strength ahead of the official employment data.


** Battery makers reversed their recent sharp gains. LG Energy Solution dropped 2.85% and parent LG Chem was down 1.40%, while peers Samsung SDI and SK Innovation lost 2.39% and 2.93%, respectively.
** Technology giant Samsung Electronics was flat, while peer SK Hynix lost 1.15%. Automakers rose, while online platform operators were flat.


** Of the total 931 issues traded, 349 shares advanced.
** Foreigners were net sellers of shares worth 110.3 billion won ($83.51 million).


** The won was quoted 0.01% lower at 1,321.5 per dollar on the onshore settlement platform .
** In money and debt markets, March futures on three-year treasury bonds rose 0.03 point to 103.17.
** The most liquid three-year Korean treasury bond yield fell by 1.1 basis points to 3.846%, while the benchmark 10-year yield fell by 0.4 basis point to 3.719%. ($1 = 1,320.8400 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)

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