South Korean shares fall for 3rd day as China data disappoints

Kitco Media
By Reuters
Published:
Updated:
Reuters



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KOSPI falls, foreigners net buyers

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Korean won weakens against dollar

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South Korea benchmark bond yield falls

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For the midday report, please click May 11 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares reversed modest early gains to close down for a third consecutive day on Thursday, as investors took softer Chinese inflation data as reflecting a weak economic momentum there.
** The benchmark KOSPI fell 5.51 points, or 0.22%, to close at 2,491.00 after having risen as much as 0.65% on the day.
** Technology giant Samsung Electronics Co Ltd fell 0.62% and peer SK Hynix Inc lost 0.69%, while battery maker LG Energy Solution Ltd declined 2.30%.
** Despite the fall in the benchmark index, selling was not broad based as gainers totalled 505 out of the total 931 issues traded.
** Foreigners were net buyers of shares worth 0.3 billion won ($227,112.72).
** The won ended onshore trade at 1,326.3 per dollar, 0.11% lower than its previous close at 1,324.8.
** In offshore trading, the won was quoted at 1,326.2 per dollar, down 0.6% for the day, while in non-deliverable forward trading its one-month contract was quoted at 1,323.6.
** The KOSPI has risen 11.38% so far this year, and gained 3.6% in the previous 30 trading sessions.
** The won has lost 4.7% against the dollar so far this year.
** In money and debt markets, June futures on three-year treasury bonds rose 0.13 points to 105.11.
** The most liquid three-year Korean treasury bond yield fell by 4.4 basis points to 3.231%, while the benchmark 10-year yield fell by 4.4 basis points to 3.300%. ($1 = 1,320.9300 won) (Reporting by Choonsik Yoo; Editing by Varun H K)

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