South Korean shares rebound as worries about U.S. banks, Fed policy ease

Kitco Media
By Reuters
Published:
Updated:
Reuters



*


KOSPI rises, foreigners net sellers

*


Korean won strengthens against dollar

*


South Korea benchmark bond yield rises

*


For the midday report, please click SEOUL, March 15 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose more than 1% on Wednesday, recovering part of their losses in the prior session as concerns eased about the U.S. banking sector's troubles and the U.S. interest rate policy outlook.
** The stock market's benchmark KOSPI ended 30.75 points, or 1.31%, higher at 2,379.72, recovering half the 61.63 points lost on Tuesday.
** The sub-index for South Korean banks also posted a gain of 1.2% after Tuesday's drop of more than 3%.
** Technology giant Samsung Electronics rose 1.36% and peer SK Hynix lost 2.47%, while battery maker LG Energy Solution advanced 3.10%.
** Of the total 933 issues traded, 716 shares gained.
** Foreigners were net sellers of shares worth 80.7 billion won ($61.9 million).
** The won ended onshore trade at 1,303.7 per dollar, 0.57% higher than its previous close at 1,311.1.
** In offshore trading, the won was quoted at 1,304.5 per dollar, up 0.0% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,301.1.
** The KOSPI has risen 6.41% so far this year, but lost 4.1% in the previous 30 trading sessions.
** The won has lost 3.0% against the dollar so far this year.
** In money and debt markets, March futures on three-year treasury bonds fell 0.16 points to 104.26.
** The most liquid three-year Korean treasury bond yield rose by 13.1 basis points to 3.482%, while the benchmark 10-year yield rose by 11.8 basis points to 3.421%.
($1 = 1,303.8300 won) (Reporting by Choonsik Yoo; Editing by Varun H K)

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.