South Korean shares up for 5th session; China data, firmer won help

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 rises

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For the midday report, please click SEOUL, April 13 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose slightly on Thursday to extend their rally into a fifth session, recovering from early losses on robust Chinese export data and a strengthening won.
** The benchmark KOSPI rose 11.02 points, or 0.43%, to end at 2,561.66, bringing its accumulated gain for the five winning sessions to 4.2%.
** Technology giant Samsung Electronics rose 0.15% and peer SK Hynix lost 1.77%, while battery maker LG Energy Solution advanced 1.53%.
** Trading sentiment on the South Korean stock market was also boosted when China announced its exports unexpectedly surged in March.
** Of the total 928 issues traded, 539 of them gained.
** Foreigners were net sellers of shares worth 345.4 billion won ($263.67 million).


** The won ended onshore trade up 1.17% at 1,310.4 per dollar, marking its fastest daily gain since March 23, partly on a central bank announcement of a swap deal with the pension fund.
** In South Korea, a strengthening won is positive for stock prices as its value is influenced by the status of risk appetite among foreign investors.
** In offshore trading, the won was quoted at 1,310.3 per dollar, up 0.9% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,307.9.
** The KOSPI has risen 14.54% this year, and gained 5.7% in the previous 30 trading sessions.
** The won has lost 3.5% against the dollar this year.
** In money and debt markets, June futures on three-year treasury bonds rose 0.14 points to 105.19.
** The most liquid three-year Korean treasury bond yield fell by 2.6 basis points to 3.200%, while the benchmark 10-year yield rose by 1.3 basis points to 3.271%.
($1 = 1,309.9800 won) (Reporting by Choonsik Yoo; Editing by Robert Birsel)

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