SEOUL: Round-up of South Korean financial markets:
South Korean shares pare early losses as Samsung Electronics rebounds
South Korean shares were little changed on Friday, despite weak data, as gains in battery makers countered losses in chip heavyweights. The won weakened, while the benchmark bond yield fell.
The benchmark KOSPI was up 2.64 points, or 0.10%, at 2,558.79 as of 0316 GMT.
South Korea’s export growth slowed to a seven-month low in October, missing market expectations, in a sign that cooling global demand and US election uncertainty are undermining an already shaky economic recovery.
South Korea’s factory activity shrank for a second straight month in October, with output falling by the most in 16 months, a survey showed, adding to recent signs of a slowdown in global demand.
Battery maker LG Energy Solution climbed 1.84%, while peers Samsung SDI and SK Innovation rose 1.38% and 5.45%, respectively.
Chipmaker Samsung Electronics fell 0.34%, while peer SK Hynix lost 1.18%.
Among other index heavyweights, automakers and biopharmaceutical manufacturers rose, while e-commerce firms were mixed.
Of the total 938 traded issues, 300 shares advanced, while 584 declined.
Foreigners were net buyers of shares worth 11.1 billion won ($8.05 million).
The won was quoted at 1,379.5 per dollar on the onshore settlement platform, 0.18% lower than its previous close at 1,377.0.
In money and debt markets, December futures on three-year treasury bonds rose 0.02 points to 105.87.
The most liquid three-year Korean treasury bond yield fell by 0.4 basis points to 2.930%, while the benchmark 10-year yield fell by 4.9 basis points to 3.090%.