South Korean shares end slightly higher, snap three-week run of gains

Reuters

South Korean shares end slightly higher, snap three-week run of gains

Oct 4, 2024 at 7:14 am GMT

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KOSPI rises, foreigners net buyers

Korean won weakens against dollar

South Korea benchmark bond yield rises

For the midday report, please click nL1N3LG01A

SEOUL, Oct 4 (Reuters) -Round-up of South Korean financial markets:

** South Korean shares inched higher on Friday, led by gains in chipmaker SK Hynix, but posted their first weekly fall in four amid worries about the widening war in the Middle East.

** The benchmark KOSPI .KS11 closed up 8.02 points, or 0.31%, at 2,569.71.

** For the week, the KOSPI fell 3.3% and snapped a three-week run of gains.

** "The KOSPI rose slightly on dip-buying, as the index was judged to have entered undervalued territory after recent losses on geopolitical worries," said Lee Kyoung-min, an analyst at Daishin Securities.

** SK Hynix 000660.KS, which supplies Nvidia NVDA.O with high-end chips, rose 2.96%, tracking the U.S. chipmaker's gains overnight. It was the biggest gainer among major heavyweights.

** Rival Samsung Electronics 005930.KS fell 1.14%. Among other index heavyweights, biopharmaceutical manufacturers and e-commerce firms rose, while battery makers fell.

** Korea Zinc 010130.KS, the world's biggest refined zinc producer, closed up 8.84% after rising as much as 10.9% to an all-time high, amid a battle for a controlling stake.

** Refiner S-Oil 010950.KS rose 3.48%, tracking crude prices.

** Shipping firms HMM 011200.KS and Pan Ocean 028670.KS fell 4.95% and 5.41%, respectively, after U.S. port workers and operators reached a deal to end a strike, reducing the prospect of higher freight charges.

** Of the total 937 traded issues, 464 shares advanced, while 414 declined.

** Foreigners were net buyers of shares worth 41.1 billion won ($30.82 million).

** The won was quoted at 1,333.7 per dollar on the onshore settlement platform KRW=KFTC, 0.80% lower than its previous close at 1,323.0.

** In money and debt markets, December futures on three-year treasury bonds KTBc1 fell 0.16 point to 106.26.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 5.5 basis points to 2.826%, while the benchmark 10-year yield KR10YT=RR rose by 5.8 basis points to 2.999%.

($1 = 1,333.3600 won)

Reporting by Jihoon Lee; Editing by Subhranshu Sahu

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