South Korean shares pare losses on Credit Suisse plans

Kitco Media
By Reuters
Published:
Updated:
Reuters



*


KOSPI falls but off lows, foreigners net sellers

*


Korean won weakens against dollar

*


South Korea benchmark bond yield falls


SEOUL, March 16 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares recovered from early losses of more than 1% by midday on Thursday, helped by Credit Suisse Group's announcement of plans to strengthen its liquidity.
** The benchmark KOSPI fell 3.66 points, or 0.15%, to 2,376.06 as of 01:54 GMT. It briefly moved higher, snapping an early drop of as much as 1.4%.
** Technology giant Samsung Electronics traded flat and peer SK Hynix gained 0.63%, while battery-maker LG Energy Solution advanced 1.59%.
** Of the total 930 issues traded, 209 shares gained.
** Foreigners were net sellers of shares worth 26.8 billion won ($20.5 million).


** The won was quoted at 1,310.9 per dollar on the onshore settlement platform , 0.55% lower than its previous close at 1,303.7. It also cut losses after falling 1% against the dollar.
** In offshore trading, the won was quoted at 1,310.6 per dollar, up 0.2% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,307.8.
** The KOSPI has risen 6.24% so far this year, but lost 1.9% in the previous 30 trading sessions.
** The won has lost 3.5% against the dollar so far this year.
** In money and debt markets, March futures on three-year treasury bonds rose 0.24 points to 104.51.
** The most liquid three-year Korean treasury bond yield fell by 7.3 basis points to 3.403%, while the benchmark 10-year yield fell by 5.5 basis points to 3.363%. ($1 = 1,310.7800 won) (Reporting by Choonsik Yoo; Editing by Sonia Cheema)

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.