South Korean shares down for second session as investors seek safety

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls, foreigners net sellers

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Korean won weakens against dollar

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South Korea benchmark bond yield falls


SEOUL, March 27 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares and its currency both weakened early on Monday as investors, wary of the global banking sector's health, sought safety while reducing exposure to riskier assets.
** The stock market's benchmark KOSPI fell 13.56 points, or 0.56%, to 2,401.40 as of 01:51 GMT, extending its slide into a second session after a 0.4% drop on Friday.
** The sub-index for banks was weaker but its loss was modest at 0.4%.
** Technology giant Samsung Electronics Co Ltd fell 1.27% and peer SK Hynix Inc lost 2.29%, while battery maker LG Energy Solution Ltd advanced 1.41%.
** Of the total 930 issues traded, just 174 shares gained.
** Foreigners were net sellers of shares worth 31.9 billion won ($24.5 million).
** The won was quoted at 1,301.8 per dollar on the onshore settlement platform , 0.58% lower than its previous close at 1,294.3.
** In offshore trading, the won was quoted at 1,302.9 per dollar, down 0.6% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,299.5.
** The KOSPI has risen 7.38% so far this year, but lost 2.7% in the previous 30 trading sessions.
** The won has lost 2.9% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds rose 0.05 points to 105.31.
** The most liquid three-year Korean treasury bond yield fell by 0.2 basis points to 3.153%, while the benchmark 10-year yield fell by 3.6 basis points to 3.172%.
($1 = 1,302.8700 won) (Reporting by Choonsik Yoo; Editing by Varun H K)

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