South Korean shares start week slightly lower on Wall Street weakness

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI slightly down, foreigners net sellers

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Korean won weakens against dollar

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South Korea benchmark bond yield rises


SEOUL, April 17 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares started the week on a slightly poor note on Monday, tracking losses in Wall Street in the last session on weak economic indicators. The Korean won dropped, while the benchmark bond yield rose.
** The benchmark KOSPI fell 4.56 points, or 0.18% to 2,566.93 as of 0214 GMT, and was set to snap a six-session rally that had brought it to a ten-month high.
** U.S. retail sales fell more than expected in March, data showed on Friday, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates.
** "Investor focus this week is on small and medium-sized banks' first-quarter results in the United States, after big banks' less worrisome results," said Kim Seok-hwan, analyst at Mirae Asset Securities.
** Technology giant Samsung Electronics Co Ltd fell 0.46%, peer SK Hynix Inc lost 1.46%, and battery maker LG Energy Solution Ltd declined 0.51%.
** Of the total 931 issues traded, 397 shares rose.
** Foreigners were net sellers of shares worth 179.3 billion won ($136.5 million).
** The won was quoted at 1,310.8 per dollar on the onshore settlement platform , 0.91% lower than its previous close.
** In money and debt markets, June futures on three-year treasury bonds fell 0.19 point to 104.95.
** The most liquid three-year Korean treasury bond yield rose by 5.4 basis points to 3.269%, while the benchmark 10-year yield rose by 3.5 bps to 3.319%. ($1 = 1,313.2500 won) (Reporting by Jihoon Lee; Editing by Varun H K)

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