2024-01-10 01:52:33
South Korean financial markets in brief:
** South Korean stocks fell for the sixth straight session on Wednesday, hitting their lowest level in a month, as poor performance by chipmakers and battery heavyweights weighed on the index. The won weakened and the benchmark bond yield rose.
**The benchmark KOSPI index was down 13.21 points, or 0.52%, at 2,548.03 at 0112 GMT, hitting its lowest level since Dec. 14.
** The market is focused on the Bank of Korea’s monetary policy meeting and US inflation data due later this week.
** South Korea’s unemployment rate hit its highest level in nearly two years in December, official data showed.
** Samsung Electronics extended its fall to lose 0.80% following the chipmaker reported weak profits in the previous session. Its peer SK Hynix lost 2.40%.
** South Korean battery makers have weakened, following the fall of US electric vehicle giant Tesla. Shares of LG Energy Solution slipped 2.16%, Samsung SDI fell 3.47%, and SK Innovation lost 1.90%.
** Among other index heavyweights, automakers and online platform companies rose, while biopharmaceutical makers struggled.
** Of the 937 stocks traded, 314 rose, while 544 fell.
** Foreigners were net sellers of stocks worth 94.4 billion won ($71.46 million) on the main market.
** The won was quoted at 1,320.4 per dollar on the onshore settlement platform, 0.36 percent lower than its previous close at 1,315.7.
** In money and debt markets, March futures on three-year Treasury notes fell 0.06 points to 104.93.
**The yield on Korea’s most liquid three-year Treasury bonds rose 1.3 basis points to 3.269 percent, while the benchmark 10-year yield rose 1.6 basis points to 3.340 %.
($1 = 1,320.9800 won) (Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)
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