KOSPI rises, foreigners net buyers
Korean won weakens against dollar
South Korea benchmark bond yield falls
For the midday report, please click
SEOUL, – Round-up of South Korean financial markets:
** South Korean shares ended higher on Wednesday for the fourth session, boosted by gains in Samsung Electronics after Nvidia CEO Jensen Huang expressed confidence that the Asian company could develop a new design on high-bandwidth memory chips. ** The won weakened, while the benchmark bond yield fell. ** The benchmark KOSPI closed up 28.95 points, or 1.16%, at 2,521.05.
** Two local FX swap dealers said they suspect the National Pension Service is selling dollar-won forwards as part of its strategic currency hedging, a move that is helping to support the won.
** “Sizable amount of flow from pension is out in the market for 6-month and 1-year tenures,” one of them said, requesting anonymity as they are not authorised to speak to media.
** Among index heavyweights, chipmaker Samsung Electronics rose 3.43% and peer SK Hynix lost 0.15%, while battery maker LG Energy Solution climbed 2.19%.
** Nvidia’s Huang told reporters in Las Vegas on Tuesday that South Korea’s Samsung has to “engineer a new design” to supply HBM chips to his company, adding that “they can do it and they are working very fast,” Korea JoongAng Daily reported.
** Hyundai Motor added 1.18% and sister automaker Kia Corp gained 1.92%, while search engine Naver and instant messenger Kakao were down 0.48% and 3.23%, respectively.
** Of the total 943 traded issues, 460 shares advanced, while 411 declined.
** Foreigners were net buyers of shares worth 201.6 billion won on the main board on Wednesday.
** The won was quoted at 1,455.0 per dollar on the onshore settlement platform, 0.14% lower than its previous close at 1,453.0.
** The most liquid three-year Korean treasury bond yield rose by 0.3 basis point to 2.511%, while the benchmark 10-year yield fell 1 basis point to 2.799%.
This article was generated from an automated news agency feed without modifications to text.
