SEOUL: Round-up of South Korean financial markets:
South Korean shares rise; domestic political developments in focus
South Korean shares edged lower on Friday, tracking overnight declines on Wall Street, but were still set for a fourth straight week of gains.
The benchmark KOSPI was down 4.50 points, or 0.18%, at 2,522.99 as of 0416 GMT.
The index has risen 0.5% this week, after a 3% jump in the previous week.
US stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts.
South Korea’s acting president on Friday ordered to closely monitor new policies of the incoming US administration, ahead of President-elect Donald Trump’s inauguration next week, and to make efforts to keep financial markets stable.
Among index heavyweights, chipmaker Samsung Electronics fell 1.47%, but peer SK Hynix gained 2.86%. Battery maker LG Energy Solution slipped 0.14%.
Hyundai Motor shed 2.97% and sister automaker Kia Corp fell 1.84%.
Search engine Naver and instant messenger Kakao were up 1.21% and down 0.95%, respectively.
Of the total 943 traded issues, 389 shares advanced and 488 declined.
Foreigners were net sellers of shares worth 314.3 billion won ($215.8 million).
The won was quoted at 1,455.5 per dollar on the onshore settlement platform, up 0.14% from its previous close.
In money and debt markets, March futures on three-year treasury bonds rose 0.23 point to 106.93.
The most liquid three-year Korean treasury bond yield fell 2.5 basis points to 2.567%, while the benchmark 10-year yield fell 0.7 bps to 2.796%.