S. Korean shares end higher, post fifth weekly gain as inflation eases

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI rises, foreigners net buyers

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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 14 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares on Friday closed higher for a sixth consecutive session, and marked a fifth straight weekly gain, as softer U.S. inflation data and expectations for a sustained recovery in the Chinese economy underpinned the market.


** The benchmark KOSPI ended up 9.83 points, or 0.38%, at 2,571.49. For the week, it rose 3.26% — the biggest weekly jump since late-January.
** Shares of battery materials maker L&F Co Ltd rose more than 7% at one point on a local media report that it had won deals to supply cathode materials to battery cell makers in the country.


** Banking shares rose for a fourth consecutive session and by 2.71%, the most since the middle of January, as investors felt more confident of the global banking sector's turmoil continuing to subside.


** Technology giant Samsung Electronics fell 1.51%, while peer SK Hynix gained 0.68%. Battery maker LG Energy Solution declined 0.83%.


** Of the total 929 issues traded, 610 shares gained.


** Foreigners were net buyers of shares worth 166.8 billion won ($128.46 million).



** The won ended onshore trade at 1,298.9 per dollar, up 0.89%.



** In offshore trading, the won was quoted at 1,298.7 per dollar, up 0.2% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,296.5.
** The central bank chief said on Thursday he was not worried much about where the won's exchange rate stands, hours after his bank announced a $35 billion currency swap deal with the country's national pension fund.


** The KOSPI has risen 14.98% so far this year.


** The won has lost 2.6% against the dollar so far this year.


** June futures on three-year treasury bonds rose 0.05 points to 105.19.


** The most liquid three-year Korean treasury bond yield rose by 0.1 basis point to 3.197%, while the benchmark 10-year yield rose by 0.5 basis point to 3.272%. ($1 = 1,298.4200 won) (Reporting by Choonsik Yoo; editing by Uttaresh Venkateshwaran)

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