South Korean shares retreat from 3-day rally, eyes on Fed

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls, foreigners net sellers

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Korean won strengthens against dollar

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South Korea benchmark bond yield falls


SEOUL, May 3 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares suffered modest losses early on Wednesday, snapping a three-day gaining streak as investors opted to cash profits ahead of the U.S. Federal Reserve's interest rate decision.
** The benchmark KOSPI fell 18.98 points, or 0.75%, to 2,505.41 as of 01:48 GMT.
* Technology giant Samsung Electronics Co Ltd fell 0.91% and peer SK Hynix Inc lost 0.89%, while battery maker LG Energy Solution Ltd declined 2.37%.
** Of the total 925 issues traded, 397 shares gained.
** Foreigners were net sellers of shares worth 34.7 billion won ($25.9 million).
** The won was quoted at 1,339.8 per dollar on the onshore settlement platform , 0.17% higher than its previous close at 1,342.1.
** In offshore trading, the won was quoted at 1,338.8 per dollar, up 0.3% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,335.8.
** The KOSPI has risen 12.03% so far this year, and gained 6.1% 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 rose 0.16 points to 104.95.
** The most liquid three-year Korean treasury bond yield fell by 6 basis points to 3.275%, while the benchmark 10-year yield fell by 5.1 basis points to 3.321%. ($1 = 1,339.0300 won) (Reporting by Choonsik Yoo; Editing by Varun H K)

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