South Korean shares track Wall Street higher; BOK stands pat on rates

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI rises for third straight session

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Korean won little changed against dollar

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South Korea benchmark bond yield falls


SEOUL, April 11 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose for a third straight session on Tuesday, tracking overnight Wall Street gains, as the Bank of Korea kept interest rates unchanged as widely expected. The won traded flat, while the benchmark bond yield fell.


** The benchmark KOSPI rose 11.56 points, or 0.46%, to 2,523.64, as of 0100 GMT, its highest intraday level since mid-August.
** "Wall Street turned higher near the end of the session, providing a positive start for Asian markets," said analyst Na Jeong-hwan at NH Investment and Securities. "There seems to be little reaction to the expected rate hold."
** The Bank of Korea (BOK) held interest rates steady for a second consecutive meeting, as it faced conflicting risks from still high inflation, a slowing economy and heightened financial uncertainty.
** BOK Governor Rhee Chang-yong is scheduled to hold a news conference at 0210 GMT to explain the rate decision.


** Technology giant Samsung Electronics fell 0.46%, peer SK Hynix was unchanged, while battery maker LG Energy Solution gained 1.34%.
** Most other index heavyweights rose, including automakers, online platform operators and biopharmaceutical stocks. Of the total 931 issues traded, 409 shares advanced.
** Foreigners were net sellers of shares worth 6.1 billion won ($4.62 million).


** The won was quoted at 1,319.1 per dollar on the onshore settlement platform , 0.05% higher than its previous close.
** In money and debt markets, June futures on three-year treasury bonds fell 0.01 point to 105.26.
** The most liquid three-year Korean treasury bond yield fell by 0.8 basis point to 3.191%, while the benchmark 10-year yield fell by 2.5 basis points to 3.219%. ($1 = 1,319.4600 won) (Reporting by Jihoon Lee; Editing by Rashmi Aich)

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