South Korean shares hover at 10-month high as investors await US inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI rises, foreigners net buyers

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Korean won slightly down against dollar

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South Korea benchmark bond yield flat


SEOUL, April 12 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose for a fourth straight session on Wednesday, though marginally, amid subdued sentiment ahead of U.S. inflation data.


** The Korean won and the benchmark bond yield were also little changed.
** The benchmark KOSPI was up 6.67 points, or 0.26%, at 2,554.53 as of 0122 GMT, after rising as much as 0.53% to its highest level since June 10, 2022.
** "Investors are mostly taking a passive approach ahead of U.S. inflation data," said Seo Sang-young, analyst at Mirae Asset Securities.
** U.S. inflation likely slowed in March to 5.2% from 6.0% in February , in annual terms, according to a Reuters survey. The data is due to be released later on Wednesday.
** Technology giant Samsung Electronics Co Ltd fell 0.46%, peer SK Hynix Inc lost 0.98%, and battery maker LG Energy Solution Ltd declined 1.48%.
** Hyundai Motor Co jumped 2.71% and Hyundai Mobis Co Ltd climbed 5.43%, following the automaker group's announcement that it would invest 24 trillion won ($18.14 billion) in the electric vehicle industry through 2030. Kia Corp was down 0.12%.


** POSCO Holdings Inc rose 4.79% as the company agreed with Japanese automaker Honda for expanded cooperation in steel and battery materials.
** Of the total 925 issues traded, 604 shares rose.
** Foreigners were net buyers of shares worth 83.7 billion won.


** The won was quoted at 1,322.4 per dollar on the onshore settlement platform , 0.02% lower than its previous close.
** In money and debt markets, June futures on three-year treasury bonds fell 0.08 point to 105.07.
** The most liquid three-year Korean treasury bond yield rose by 0.3 basis point (bps) to 3.241%, while the benchmark 10-year yield rose by 0.2 bp to 3.265%. ($1 = 1,323.7200 won) (Reporting by Jihoon Lee; Editing by Sonia Cheema)

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