South Korean shares fall as US bank jitters outweigh Fed relief effect

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 4 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares were down around midday on Thursday as investors digested the outcome of the U.S. Federal Reserve's latest policy meeting, while keeping a wary eye on the health of U.S. banking sector, especially the regional lenders.
** The benchmark KOSPI fell 14.52 points, or 0.58%, to 2,486.88 as of 01:49 GMT.
** Technology giant Samsung Electronics Co Ltd fell 0.76% and peer SK Hynix Inc lost 2.34%, while battery maker LG Energy Solution Ltd declined 1.06%.
** Of the total 929 issues traded, 307 shares gained.
** Foreigners were net sellers of shares worth 46.9 billion won ($35.3 million).


** The won gained nearly 1% against the dollar as top South Korean economic policymakers said they took the Fed's decision and remarks as positive for the domestic markets.
** The won was quoted at 1,327.7 per dollar on the onshore settlement platform, 0.79% higher than its previous close at 1,338.2.
** In offshore trading, the won was quoted at 1,326.8 per dollar, up 0.6% on the day, while in non-deliverable forward trading, its one-month contract was quoted at 1,324.0.
** The KOSPI has risen 11.20% so far this year and gained 4.7% in the previous 30 trading sessions.
** The won has lost 4.8% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds rose 0.17 points to 105.12.
** The most liquid three-year Korean treasury bond yield fell by 5.9 basis points (bps) to 3.228%, while the benchmark 10-year yield fell 4.2 bps to 3.287%.
($1 = 1,327.0900 won) (Reporting by Choonsik Yoo; Editing by Sonia Cheema)

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