South Korean shares flat as chipmaker losses counter travel gains

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI flat, foreigners net sellers

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Korean won little changed against dollar

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South Korea benchmark bond yield rises


SEOUL, March 29 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares were flat on Wednesday as losses in heavyweight chipmakers offset a rally in smaller travel and retail stocks. The Korean won was little changed, while the benchmark bond yield rose.
** The benchmark KOSPI was down 1.78 points, or 0.07%, at 2,433.16 as of 0144 GMT. The index traded between a 0.1% loss and a 0.3% gain. In the previous session, the index touched a three-week high.
** The benchmark index saw marginal changes amid no major market driver seen for the session," said Mirae Asset Securities' analyst Kim Seok-hwan.
** Chipmakers Samsung Electronics and SK Hynix fell 0.79% and 1.24%, respectively, after U.S. rival Micron Technology forecast that third-quarter revenue would tumble nearly 60% from a year earlier.
** Among other index heavyweights, battery makers and automakers rose, but online service providers and biopharmaceutical stocks fell.


** Travel and retail stocks jumped, with the Korea Exchange Consumer Discretionary Index up 1%, on a government package plan aimed at boosting domestic consumption and attracting foreign tourists.
** Low-cost carrier T'way Air jumped 9%, while peers Jin Air and Jejuair rose more than 5% each. Hotel Shilla added 2% and Amorepacific gained 3%.
** Of the total 932 issues traded, 483 shares gained.
** Foreigners were net sellers of shares worth 79.6 billion won ($61.26 million).


** The won was quoted at 1,298.6 per dollar on the onshore settlement platform , 0.02% higher than its previous close at 1,298.8.


** In money and debt markets, June futures on three-year treasury bonds fell 0.13 point to 104.85.
** The most liquid three-year Korean treasury bond yield rose by 4.4 basis points to 3.303%, while the benchmark 10-year yield rose by 5.6 basis points to 3.337%. ($1 = 1,299.4000 won) (Reporting by Jihoon Lee)

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