South Korean government bond prices moved slightly up by mid-morning on Friday, as investors looked to safe-haven assets amid a wave of violence and kidnappings in Iraq and ahead of a finance ministry treasury bond buyback next week.
However, the central bank's move to upgrade its 2004 economic growth target on Thursday due to healthy exports and a fall in US jobless claims data made some investors wary of heavy bond purchases.
By 0053 GMT, the yield on three-year treasury bonds was bid two points lower at 4.54 percent. The five-year treasury bond yield fell two basis points at 4.84 percent, traders said.
Investor appetite for bonds was bolstered after seven South Koreans were taken hostage by armed men near Baghdad on Thursday before being released unharmed later in the day.
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