SEOUL: Round-up of South Korean financial markets:
South Korean shares hit over 1-month high on chip, battery boost
South Korean shares fell on Thursday as carmakers and tech shares drove markets lower on concerns about a trade war’s impact on the trade-reliant economy. The won strengthened while the benchmark bond yield fell.
The benchmark KOSPI was down 25.49 points, or 0.96%, at 2,618.45 as of 03:20 GMT.
US President Donald Trump on Wednesday announced 25% tariffs on auto and auto parts after concluding that automotive imports continue to threaten the country’s industrial base and national security.
Hyundai Motor shed 4.28% and sister automaker Kia Corp lost 3.75%. Search engine Naver and instant messenger Kakao were down 3.48% and down 2.91%, respectively.
Among index heavyweights, chipmaker Samsung Electronics rose 0.57% and peer SK Hynix lost 2.34%, while battery maker LG Energy Solution climbed 0.14%.
Of the total 939 traded issues, 328 shares advanced, while 555 declined.
Foreigners were net sellers of shares worth 105.2 billion won on the main board on Thursday.
The won was quoted at 1,465.2 per dollar on the onshore settlement platform, 0.14% higher than its previous close of 1,467.3.
In offshore trading, the won was quoted at 1,465.7 per dollar, up 0.1% on the day, while in the non-deliverable forward market, its one-month contract was quoted at 1,462.8.
The KOSPI has risen 9.13% so far this year and climbed 4.1% in the previous 30 trading sessions.
The won has gained 0.5% against the dollar so far this year.
In money and debt markets, June futures on three-year treasury bonds rose 0.02 points to 106.76.
The most liquid three-year Korean treasury bond yield rose by 0.3 basis points to 2.620%, while the benchmark 10-year yield fell by 0.9 basis points to 2.841%.
