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KOSPI little changed, foreigners net sellers
Korean won marginally down against dollar
South Korea benchmark bond yield flat
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For the midday report, please click SEOUL, March 21 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares ended flat on Tuesday as investor
sentiment was subdued ahead of the U.S. Federal Reserve's policy
meeting this week, although worries eased over the global
banking turmoil.
** The Korean won and the benchmark bond yield were flat.
** The benchmark KOSPI ended up 9.15 points, or
0.38%, at 2,388.35, after rising as much as 0.85%.
** Investors' focus is on the Fed's policy meeting from
Tuesday through Wednesday, with expectations of another rate 25
basis points (bps) interest rate hike amid market turbulence
triggered by bank troubles in the U.S. and Switzerland.
** "The market is likely to continue its directionless trend
until the meeting outcome, which is going to be neither hawkish
nor complacent about inflation," said Huh Jae-hwan, an analyst
at Eugene Investment and Securities.
** Meanwhile, South Korean exports tumbled for the first 20
days of March and producer inflation eased last month, data
showed on Tuesday, reinforcing expectations that the central
bank will not raise interest rates further.
** Most index heavyweights were little changed, logging
gains or losses of less than 1%. Of the total 933 issues traded,
427 shares rose.
** Technology giant Samsung Electronics rose
0.17% but peer SK Hynix lost 0.12%, while battery
maker LG Energy Solution climbed 0.37%.
** Foreigners were net sellers of shares worth 55.3 billion
won ($42.2 million).
** The won ended onshore trade at 1,311.2 per dollar, 0.08% lower than its previous close of 1,310.1.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.14 points to 104.74.
** The most liquid three-year Korean treasury bond yield
rose by 2.7 bps to 3.296%, while the benchmark 10-year yield was
up by 0.2 bps to 3.307%.
($1 = 1,310.0600 won)
(Reporting by Jihoon Lee; Editing by Sonia Cheema)
