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KOSPI rises, foreigners net buyers
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Korean won weakens against dollar
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South Korea benchmark bond yield rises
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For the midday report, please click SEOUL, March 29 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose for a second consecutive day on
Wednesday, led by automakers and battery manufacturers, although
chipmakers' losses capped further gains on the benchmark index.
The Korean won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI ended up 8.98 points, or
0.37%, at 2,443.92, hitting its highest closing level since
March 7.
** Hyundai Motor Co rose 1.86% and sister
automaker Kia Corp jumped 3.38%, marking the biggest
gains among the index heavyweights.
** Battery-maker LG Energy Solution Ltd gained
1.04%, while peers Samsung SDI Co Ltd and SK
Innovation Co Ltd added 1.80% and 0.80%,
respectively.
** Bucking the trend, chipmakers Samsung Electronics Co Ltd and SK Hynix Inc fell 0.32% and 1.70%
each, after U.S. rival Micron Technology Inc forecast its
third-quarter revenue to tumble nearly 60% from a year earlier.
** "There was little volatility in the market amid a
wait-and-seen mood seen broadly," said analyst Na Jeong-hwan at
NH Investment and Securities.
** South Korea may consider easing stock short-selling rules
later this year if the current turmoil in financial markets ends
soon, the head of the Financial Supervisory Service said.
** Travel and retail stocks rallied on a government package
plan aimed at boosting domestic consumption and attracting
foreign tourists.
** Low-cost carrier T'way Air Co Ltd jumped
7.50%, while Jin Air Co Ltd and JejuAir Co Ltd each climbed 6.06%. Hotel Shilla Co Ltd added 2.54% and Amorepacific Corp gained 2.72%.
** Of the total 933 issues traded, 553 shares advanced.
** Foreigners were net buyers of shares worth 6.4 billion
won ($4.9 million).
** The won ended onshore trade 0.30% lower at
1,302.7 per dollar.
** In money and debt markets, June futures on three-year
treasury bonds rose 0.09 points to 105.07.
** The most liquid three-year Korean treasury bond yield
fell by 0.2 basis points (bps) to 3.257%, while the benchmark
10-year yield rose by 1.7 bps to 3.298%.
($1 = 1,303.0100 won)
(Reporting by Jihoon Lee; Editing by Sonia Cheema)
