South Korea stocks slip as investors turn cautious ahead of US election
- KOSPI was down 15.11 points, or 0.58%, at 2,573.86
Round-up of South Korean financial markets:
South Korean shares fell on Tuesday amid increasing risk-off sentiment ahead of the US presidential election. The won weakened, while the benchmark bond yield fell.*
South Korea stocks rise on moves to scrap planned tax on financial investments
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The benchmark KOSPI was down 15.11 points, or 0.58%, at 2,573.86 as of 01:46 GMT.
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Among index heavyweights, chipmaker Samsung Electronics fell 1.87% and peer SK Hynix gained 1.03%, while battery maker LG Energy Solution slid 0.82%.
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Hyundai shed 2.08% and sister automaker Kia lost 1.13%, while search engine Naver and instant messenger Kakao were up 0.28% and flat, respectively.
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South Korea’s October headline inflation slowed further to its weakest in almost four years, data showed, strengthening the case for more interest rate cuts and fuelling worries of an undershoot of the Bank of Korea’s 2% target.
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Of the total 939 traded issues, 439 shares advanced and 419 declined.
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Foreigners net sold shares worth 232.6 billion won ($168.8 million) on the main board.
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The won was quoted at 1,378.3 per US dollar on the onshore settlement platform, 0.28% lower than its Monday’s close at 1,374.5.
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In offshore trading, the won was quoted at 1,377.3 per dollar, down 0.3%, while its one-month contract was quoted at 1,375.4 in non-deliverable forward trading.
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The KOSPI has fallen 3.07% so far this year, but gained 0.5% in the last 30 trading sessions.
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The won has shed 6.6% against the dollar so far this year.
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In money and debt markets, December futures on three-year treasury bonds rose 0.03 point to 105.88.
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The most liquid three-year Korean treasury bond yield fell 0.9 basis points to 2.926%, while the benchmark 10-year yield dropped 1.3 basis points to 3.084%.
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