South Korean shares rise on earnings boost, relief in banking woes

Kitco Media
By Reuters
Published:
Updated:
Reuters



*


KOSPI rises, foreigners net buyers

*


Korean won weakens against dollar

*


South Korea benchmark bond yield rises


SEOUL, May 2 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares posted modest gains early on Tuesday, led by companies with solid earnings, while the sale of First Republic Bank's assets to JPMorgan Chase & Co provided some relief on U.S. banking sector's woes.
** Local markets largely shrugged off data showing the country's inflation in April eased to a 14-month low on an annual basis, as it was in line with expectations.
** The benchmark KOSPI rose 14.53 points, or 0.58%, to 2,516.06 as of 0219 GMT.
** Technology giant Samsung Electronics rose 0.46% and peer SK Hynix gained 0.22%, while battery maker LG Energy Solution advanced 1.20%.
** Of the total 929 issues traded, 571 shares gained.
** Foreigners were net buyers of shares worth 298.5 billion won ($222.80 million).


** The won was quoted at 1,339.7 per dollar on the onshore settlement platform , 0.15% lower than its previous close at 1,337.7.
** In offshore trading, the won was quoted at 1,339.7 per dollar, up 0.2% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,336.8.
** The KOSPI has risen 12.50% so far this year, and gained 4.4% in the previous 30 trading sessions.
** The won has lost 5.6% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds fell 0.09 points to 104.79.
** The most liquid three-year Korean treasury bond yield rose by 3.8 basis points to 3.327%, while the benchmark 10-year yield rose by 3.8 basis points to 3.393%.
($1 = 1,339.7900 won) (Reporting by Choonsik Yoo; editing by Uttaresh Venkateshwaran)

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.