South Korean shares end nearly 1% lower ahead of U.S. Fed decision

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

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For the midday report, please click May 3 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares fell nearly 1% on Wednesday amid caution ahead of U.S. Federal Reserve's rate decision due later in the day. The won strengthened, while the benchmark bond yield fell.
** The benchmark KOSPI fell 22.99 points, or 0.91%, to 2,501.40 by the close of the session.


** "Investors are keen to see if there will be any signal of rate-hike pause after a hike at this meeting," said analyst Lee Kyoung-min at Daishin Securities.
** Technology giant Samsung Electronics fell 0.46%, peer SK Hynix lost 0.44%, while battery maker LG Energy Solution declined 4.06%.
** Of the total 929 issues traded, 343 shares gained.
** Foreigners were net sellers of shares worth 92.7 billion won ($69.31 million).


** The won ended onshore trade at 1,338.2 per dollar, 0.29% higher than its previous close at 1,342.1.


** The KOSPI has risen 11.85% so far this year and gained 6.1% in the previous 30 trading sessions.
** The won has lost 5.5% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds rose 0.16 point to 104.95.
** The most liquid three-year Korean treasury bond yield fell by 4.8 basis points to 3.287%, while the benchmark 10-year yield fell by 4.3 basis points to 3.329%. ($1 = 1,337.4000 won) (Reporting by Jihoon Lee; editing by Uttaresh Venkateshwaran)

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