South Korean shares end seven-day rally as automakers fall

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI down 0.2%, 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 18 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares snapped a seven-day rally on Tuesday, with automakers dragging the benchmark index lower. The Korean won weakened, while the benchmark bond yield was little changed.
** The benchmark KOSPI closed down 4.82 points, or 0.19%, at 2,571.09, after hitting a 10-month high in the previous session.


** Hyundai Motor Co and Kia Corp fell 1.85% and 2.13%, respectively, after the U.S. Treasury's list of electric vehicles for tax credits did not include their models.


** Beauty product makers rallied after China's first-quarter economic growth beat expectations, led by robust retail sales. Amorepacific and LG Healthcare & Household added 5.18% and 5.10%, respectively.


** "The market was largely sluggish after recent sharp gains, except for some sectors related to consumer spending in China," said analyst Na Jeong-hwan of NH Investment and Securities.
** Technology giant Samsung Electronics rose 0.46%, but peer SK Hynix lost 1.02%. Battery maker LG Energy Solution climbed 0.17%.
** LG Chem rose 2.48% on a 1.2 trillion won ($909.23 million) investment plan to build a battery precursors plant.
** Of the total 931 issues traded, 312 shares advanced.
** Foreigners were net buyers of shares worth 343.9 billion won ($260.83 million).


** The won ended onshore trade at 1,318.6 per dollar, 0.57% lower than its previous close.
** In money and debt markets, June futures on three-year treasury bonds rose 0.01 point to 104.88.
** The most liquid three-year Korean treasury bond yield rose by 0.9 basis point to 3.294%, while the benchmark 10-year yield rose by 0.4 basis point to 3.352%. ($1 = 1,318.4700 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)

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