South Korean shares rebound on hopes of Fed slowing rate-hike pace

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, March 15 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rebounded in early trade on Wednesday from the previous session's lows, lifted by expectations of Federal Reserve slowing pace of its interest-rate increases on easing U.S. inflation.


** The won also shot up in value against the dollar, whereas bond prices fell on profit-taking after recent sharp gains.
** The stock market's benchmark KOSPI rose 41.66 points, or 1.77%, to 2,390.63 as of 02:07 GMT, after suffering its worst daily fall in more than five months on Tuesday.
** Technology giant Samsung Electronics rose 1.86% and peer SK Hynix lost 0.49%, while battery maker LG Energy Solution advanced 3.10%.
** Of the total 933 issues traded, 809 shares gained.
** Foreigners were net buyers of shares worth 98.4 billion won ($75.77 million).


** The won was quoted at 1,301.7 per dollar on the onshore settlement platform , 0.72% higher than its previous close at 1,311.1.
** In offshore trading, the won was quoted at 1,297.8 per dollar, up 0.5% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,294.3.
** The KOSPI has risen 6.9% so far this year, but lost 4.1% in the previous 30 trading sessions.
** The won has lost 2.9% against the dollar so far this year.
** In money and debt markets, March futures on three-year treasury bonds fell 0.21 points to 104.21.
** The most liquid three-year Korean treasury bond yield rose by 14.4 basis points to 3.495%, while the benchmark 10-year yield rose by 11.7 basis points to 3.420%.


($1 = 1,298.5900 won) (Reporting by Choonsik Yoo; Editing by Rashmi Aich)

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