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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, April 11 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares jumped more than 1% on Tuesday to
their highest in 10 months, after the Bank of Korea (BOK) kept
interest rates steady for the second time in a row, with
electric-vehicle stocks leading the gains.
** The Korean won weakened, while the benchmark bond yield
rose.
** The benchmark KOSPI ended up 35.78 points, or
1.42%, at 2,547.86, marking its highest close since June 10,
2022 and extending its rising streak to a third session.
** The BOK held interest rates steady and warned against
expectations for a rate cut within this year, saying cooling but
still high inflation posed a bigger risk than an economic slump.
** "The central bank said it would watch financial stability
and past rate hike effects, which in other words means it is
done tightening," said Huh Jae-hwan, analyst at Eugene
Investment and Securities.
** "Its financial stability measures will increase liquidity
in the market, which growth stocks should benefit from."
** Electric-vehicle stocks were the biggest gainers among
the index heavyweights. Hyundai Motor rose 3.34% and
its sister automaker Kia Corp jumped 4.94%.
** Battery-maker LG Energy Solution gained
2.35%, its parent LG Chem soared 7.47%, while peers
Samsung SDI and SK Innovation added more
than 2% each.
** Online platform providers Naver and Kakao rose 3.58% and 2.07%, respectively.
Biopharmaceutical stock Samsung Biologics climbed
1.12% and peer Celltrion rallied 4.21%.
** Of the total 931 issues traded, 688 shares advanced.
** Foreigners were net buyers of shares worth 185.9 billion
won ($140.6 million).
** The won ended onshore trade at 1,322.2 per
dollar, 0.19% lower than its previous close.
** In money and debt markets, June futures on three-year
treasury bonds fell 0.19 points to 105.08.
** The most liquid three-year Korean treasury bond yield
rose by 3.5 basis points to 3.234%, while the benchmark 10-year
yield rose by 2.2 basis points to 3.266%.
($1 = 1,322.2400 won)
(Reporting by Jihoon Lee; Editing by Sonia Cheema)
