South Korean shares end flat ahead of US CPI; automakers jump

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI flat, foreigners net buyers

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Korean won weakens against dollar

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South Korea benchmark bond yield flat

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For the midday report, please click SEOUL, April 12 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares ended little changed on Wednesday, as investors remained cautious ahead of U.S. inflation data. The won weakened, while the benchmark bond yield was flat.
** The benchmark KOSPI closed up 2.78 points, or 0.11%, to 2,550.64, just enough to extend its rising streak to a fourth straight session and hit a fresh 10-month high.


** "Stocks traded on individual issues, while there was caution ahead of U.S. inflation data, which will again test the market's monetary policy expectations," said Lee Kyoung-min, analyst at Daishin 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 rose 0.15%, but peer SK Hynix Inc lost 1.63% and battery maker LG Energy Solution Ltd dropped 3.28%.
** Hyundai Motor Co jumped 3.18%, sister automaker Kia Corp gained 1.29%, and auto-parts makers Hyundai Mobis Co Ltd climbed 4.98%.


** Hyundai Motor Group said it would invest 24 trillion won ($18.14 billion) in the electric vehicle industry through 2030.


** POSCO Holdings Inc rose 2.39% as the company agreed with Japanese automaker Honda for expanded cooperation in steel and battery materials.
** LG Corp rallied 9.48% as the company reported in a regulatory filing that UK-based Silchester International Investors acquired 5.02% of its shares.


** LG Electronics Inc , LG Display Co Ltd and LG Innotek Co Ltd added 1.78%, 3.02% and 2.92%, respectively.


** Of the total 928 issues traded, 638 shares rose.
** Foreigners were net buyers of shares worth 212.8 billion won.
** The won ended onshore trade 0.26% lower at 1,325.7 per dollar.
** The most liquid three-year Korean treasury bond yield fell by 0.2 basis point (bp) to 3.236%, while the benchmark 10-year yield rose by 0.3 bp to 3.266%. ($1 = 1,326.0200 won) (Reporting by Jihoon Lee; Editing by Sonia Cheema)

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