South Korea shares fall, set for fourth weekly drop as US debt talks drag

Kitco Media
By Reuters
Published:
Updated:
Reuters



*


KOSPI falls, foreigners net sellers

*


Korean won weakens against dollar

*


South Korea benchmark bond yield falls


SEOUL, May 12 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares fell by midday on Friday and set for a fourth consecutive weekly decline, dampened by a delayed settlement in the U.S. debt ceiling talks.
** The benchmark KOSPI slipped 14.75 points, or 0.59%, to 2,476.25 as of 02:30 GMT. It was down 0.97% for the week.
** Technology giant Samsung Electronics traded flat and peer SK Hynix gained 0.35%, while battery maker LG Energy Solution declined 1.27%.
** Of the total 930 issues traded, 209 shares gained.
** Foreigners were net sellers of shares worth 167.5 billion won ($126.80 million).


** The won was quoted at 1,334.5 per dollar on the onshore settlement platform , 0.61% lower than its previous close at 1,326.3.
** In offshore trading, the won was quoted at 1,334.6 per dollar, down 0.3% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,332.0.
** The KOSPI has risen 10.72% so far this year, and gained 2.3% in the previous 30 trading sessions.
** The won has lost 5.2% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds rose 0.02 points to 105.17.
** The most liquid three-year Korean treasury bond yield rose by 0.1 basis points to 3.220%, while the benchmark 10-year yield fell by 3.1 basis points to 3.258%.
($1 = 1,320.9300 won) (Reporting by Choonsik Yoo; Editing by Rashmi Aich)

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.