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KOSPI rises, foreigners net sellers
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Korean won strengthens against dollar
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South Korea benchmark bond yield rises
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For the midday report, please click SEOUL, March 28 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose 1% on Tuesday to their highest
in three weeks as worries over global banking troubles eased
after an acquisition deal for U.S.-based Silicon Valley Bank
(SVB). The Korean won strengthened, while the benchmark bond
yield rose.
** The benchmark KOSPI ended up 25.72 points, or
1.07%, at 2,434.94, hitting its highest closing level since
March 7.
** U.S. regulators said on Monday they would backstop a deal
by regional lender First Citizens BancShares to acquire SVB.
** "The market rose with worries easing over the banking
issue, but it is still an ongoing one and must be carefully
watched," said Mirae Asset Securities' analyst Seo Sang-young.
** Chipmakers were leading gainers among the index
heavyweights, with Samsung Electronics and SK Hynix up 1.29% and 3.39%, respectively.
** The Korea Exchange Bank Equity Index gained 2.32%, while the Finance-major Index and the Securities-minor Index added 1.46% and 0.83% each.
** LG Display jumped 8.90% after it secured a 1 trillion won ($769.9 million) loan from LG Electronics to reinforce competitiveness in its OLED business.
** Of the total 933 issues traded, 690 shares rose.
** Foreigners were net sellers of shares worth 43.4 billion
won.
** The won ended onshore trade at 1,298.8 per dollar, 0.21% higher than its previous close at 1,301.5.
** In money and debt markets, June futures on three-year
treasury bonds fell 0.11 points to 104.98.
** The most liquid three-year Korean treasury bond yield
rose by 4.7 basis points (bps) to 3.265%, while the benchmark
10-year yield rose by 2.8 bps to 3.285%.
($1 = 1,299.2600 won)
($1 = 1,298.9400 won)
(Reporting by Jihoon Lee; Editing by Sonia Cheema)
