South Korean shares cut losses as authorities vow to stabilise markets
KOSPI falls, foreigners net sellers
Korean won weakens against dollar
South Korea benchmark bond yield falls
SEOUL, Oct 2 (Reuters) -Round-up of South Korean financial markets:
** South Korean shares cut early losses on Wednesday, as authorities vowed to stabilise markets after risk-averse sentiment heightened on the Middle East crisis.
** The won weakened, while the benchmark bond yield fell.
** The benchmark KOSPI .KS11 was down 9.39 points, or 0.36%, at 2,583.88, as of 0216 GMT, after falling as much as 1.46% earlier in the session.
** Authorities from the country's finance ministry and central bank said they would closely monitor the situation in the Middle East and its impact on the domestic economy and financial markets.
** Iran said its missile attack on Israel was over barring further provocation, while Israel and the United States promised to retaliate against Tehran as fears of a wider war intensified.
** South Korea's consumer inflation cooled more than forecast in September and below the central bank's target for the first time since early 2021, amid growing expectations of an imminent policy easing.
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 0.33%, while peer SK Hynix 000660.KS lost 0.06%. Battery maker LG Energy Solution 373220.KS climbed 0.72%.
** Of the total 931 traded issues, 226 shares advanced, while 652 declined.
** Foreigners were net sellers of shares worth 285.8 billion won ($216.25 million).
** The won was quoted at 1,320.3 per dollar on the onshore settlement platform KRW=KFTC, 0.27% lower than its previous close at 1,316.8.
** In money and debt markets, December futures on three-year treasury bonds KTBc1 rose 0.09 point to 106.44.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 3.3 basis points to 2.778%, while the benchmark 10-year yield KR10YT=RR fell by 5.0 basis points to 2.940%.
($1 = 1,321.6300 won)
Reporting by Jihoon Lee; Editing by Subhranshu Sahu
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.
