S.Korean shares flat ahead of monetary policy events; Samsung Electronics rises
KOSPI rises, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
SEOUL, July 8 (Reuters) -Round-up of South Korean financial markets:
** South Korean shares were flat on Monday, ahead of major monetary policy events this week, while chip giant Samsung Electronics extended gains on strong earnings.
** The benchmark KOSPI .KS11 traded marginally up, by just 1.83 points, or 0.06%, at 2,864.06 as of 0036 GMT, hovering around its highest levels in nearly 30 months.
** In the United States, Federal Reserve Chair Jerome Powell will testify before Congress this week, and inflation data for June will be reported. Meanwhile, South Korea's central bank will meet on Thursday for a rate-setting meeting.
** Samsung Electronics 005930.KS was up 0.80%, after rising as much as 1.72% earlier in the session to hit the highest level since late January 2021. Last week, it jumped 6.9% on higher-than-expected preliminary earnings for the second quarter.
** Among other index heavyweights, chip rival SK Hynix 000660.KS fell 1.06%, and battery maker LG Energy Solution 373220.KS slid 0.42%. E-commerce firms gained, but biopharmaceutical manufacturers weakened.
** Hyosung Heavy Industries jumped 4.51% on an order worth 303.5 billion won ($220 million).
** Of the total 927 traded issues, 469 shares advanced, while 391 declined.
** Foreigners were net buyers of shares worth 126.5 billion won.
** The won was quoted at 1,378.6 per dollar on the onshore settlement platform KRW=KFTC, 0.20% higher than its previous close at 1,381.3.
** In money and debt markets, September futures on three-year treasury bonds KTBc1 rose 0.04 point to 105.42.
** The most liquid three-year Korean treasury bond yield fell by 1.7 basis points to 3.105%, while the benchmark 10-year yield fell by 2.0 basis points to 3.201%.
($1 = 1,379.3600 won)
Reporting by Jihoon Lee; Editing by Mrigank Dhaniwala
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
