SEOUL: Round-up of South Korean financial markets:
South Korean stocks edge down in thin holiday trade
The South Korean won hit the weakest level since March 2009 in holiday-thinned trading amid the US dollar’s continued rally. South Korean stocks fell, while the benchmark bond yield rose.
The benchmark KOSPI shed 5.32 points, or 0.22%, at 2,435.20 as of 02:12 GMT.
Foreigners net sold shares worth 91.5 billion won ($62.6 million) on the main board on Thursday.
The won was quoted at 1,463.3 per dollar on the onshore settlement platform, 0.40% lower than Tuesday’s close at 1,457.5 and hitting the weakest since March 2009.
The South Korean financial market was shut on Wednesday for the Christmas holiday.
Among index heavyweights, chipmaker Samsung Electronics fell 0.74%, while peer SK Hynix gained 0.59%. Battery maker LG Energy Solution slid 1.00%.
There are very few offers in USD-KRW trading which is helping the won weaken, a local FX dealer said, asking not to be named due to internal policy.
Hyundai eased 0.46%, while sister automaker Kia added 0.10%. Search engine Naver and instant messenger Kakao dipped 0.99% and 1.39%, respectively.
Of the total 941 traded issues, 318 advanced and 564 declined.
In offshore trading, the won was quoted at 1,462.9 per dollar, down 0.4% on the day, while in non-deliverable forward trading, its one-month contract was quoted at 1,460.9.
The KOSPI has fallen 8.29% so far this year, losing 1.7% in the last 30 sessions. The won has lost 12.0% against the dollar in the same period.
In money and debt markets, March futures on three-year treasury bonds fell 0.05 point to 106.57.
The most liquid three-year Korean treasury bond yield rose by 0.8 basis points to 2.640% and the benchmark 10-year yield rose by 2.3 basis points to 2.897%.