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KOSPI rises, foreigners net sellers
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Korean won weakens against dollar
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South Korea benchmark bond yield rises
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For the midday report, please click SEOUL, April 17 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares recouped early losses to end higher
on Monday and extended their gaining streak to a seventh
session, with investor focus set on major corporate earnings and
China's economic data this week.
** The Korean won weakened nearly 1% in its worst session in
two weeks, while the benchmark bond yield rose.
** The benchmark KOSPI ended up 4.42 points, or
0.17%, at 2,575.91, reversing its early loss of 0.40%.
** The KOSPI rose for a seventh consecutive session, marking the longest gaining streak since mid-January, and hit the highest closing level since June 10, 2022.
** "The machinery and steel sectors rose on inflation bets
after a spike in inflation expectations in the United States,"
said Choi Yoo-june, an analyst at Shinhan Securities.
** The Bank of Korea said in a report that South Korea's
China-bound exports are expected to improve gradually in the
second half of this year, with non-IT products of machineries
and steel products leading the recovery.
** China's gross domestic product likely perked up in the
first quarter, helped by lifting of its strict COVID-19 curbs,
according to a Reuters poll.
** Steelmaker POSCO Holdings gained 1.80% to the
highest since March 2012, POSCO Steeleon rose by its
daily limit of 29.89%, while POSCO International jumped 14.34%.
** Technology giant Samsung Electronics rose
0.31%, but peer SK Hynix lost 0.90% and battery
maker LG Energy Solution fell 0.51%.
** Of the total 931 issues traded, 491 shares rose.
** Foreigners were net sellers of shares worth 14.1 billion
won ($10.76 million).
** The won ended onshore trade at 1,311.1 per
dollar, 0.93% lower than its previous close. It was the biggest
daily fall since April 3.
** The most liquid three-year Korean treasury bond yield
rose by 6.2 basis points to 3.277%, while the benchmark 10-year
yield rose by 5.7 basis points to 3.341%.
($1 = 1,310.2000 won)
(Reporting by Jihoon Lee)
