South Korean shares flat after five-day slide on banking woes

Kitco Media
By Reuters
Published:
Updated:
Reuters



*


KOSPI flat, foreigners net buyers

*


Korean won weakens against dollar

*


South Korea benchmark bond yield rises


SEOUL, April 27 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares were flat on Thursday after a five-day losing streak, as bargain hunting offset jitters about the banking sector's health.
** The benchmark KOSPI was down 1.22 points, or 0.05%, at 2,483.61 as of 02:19 GMT.
** Samsung Electronics Co Ltd , which is heavily weighted on KOSPI, edged down after it flagged a gradual recovery for chips in the second half of the year after its semiconductor division reported a record loss.
** Chipmaker SK Hynix Inc gained 0.46%, while battery maker LG Energy Solution Ltd advanced 3.17%.
** The banking sector's index slumped 1.4%, having fallen as much as 1.9% earlier in the session.
** Of the total 927 issues traded, only 277 shares gained.
** Foreigners were net buyers of shares worth 70.8 billion won ($52.8 million).
** The won was quoted at 1,340.8 per dollar on the onshore settlement platform , 0.34% lower than its previous close at 1,336.3.
** Currency traders shrugged off remarks by a senior presidential official that U.S. and South Korean leaders upgraded their commitment to cooperate on maintaining stability in foreign exchange markets at a summit.
** In offshore trading, the won was quoted at 1,340.2 per dollar, down 0.2% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,337.2.
** The KOSPI has risen 11.05% so far this year, and gained 4.4% in the previous 30 trading sessions.
** The won has lost 5.7% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds fell 0.01 points to 104.99.
** The most liquid three-year Korean treasury bond yield rose by 0.7 basis points to 3.266%, while the benchmark 10-year yield rose by 0.4 basis points to 3.313%. ($1 = 1,340.0500 won) (Reporting by Choonsik Yoo; Editing by Varun H K)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.