South Korean shares rise to highest since August as battery makers rally

Kitco Media
By Reuters
Published:
Updated:
Reuters



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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 flat

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For the midday report, please click SEOUL, April 5 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose to their highest in more than seven months on Wednesday, with battery makers leading the gains. The Korean won strengthened, while the benchmark bond yield was little changed.
** The benchmark KOSPI ended up 14.70 points, or 0.59%, at 2,495.21, marking the highest close since Aug. 18, 2022.
** "Battery makers accounted for a considerable part of the KOSPI's gains," said analyst Lee Kyoung-min at Daishin Securities.
** LG Energy Solution Ltd jumped 2.26% while its parent LG Chem Ltd rose 1.39%, and peer Samsung SDI Co Ltd surged 7.16%. Automakers Hyundai Motor Co and Kia Corp gained 1.58% and 1.50%, respectively.
** Chipmaker Samsung Electronics rose 0.47%, ahead of its first-quarter result, which is due on Friday and expected be the company's lowest in 14 years. Peer SK Hynix gained 0.12%.
** Online platform service providers Naver Corp and Kakao Corp fell 0.90% and 0.33%, respectively, while biopharmaceutical stocks also ended down.
** Of the total 935 issues traded, 419 shares rose.
** Institutional investors were net buyers of shares worth 329.6 billion won ($251.6 million), while foreigners sold 18.6 billion won.
** The won ended onshore trade at 1,310.5 per dollar, 0.40% higher than its previous close at 1,315.8.
** In money and debt markets, June futures on three-year treasury bonds rose 0.02 points to 105.01.
** The most liquid three-year Korean treasury bond yield fell by 2.1 basis points to 3.259%, while the benchmark 10-year yield rose by 0.5 basis point to 3.321%. ($1 = 1,310.3000 won) (Reporting by Jihoon Lee; Editing by Christian Schmollinger and Varun H K)

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