South Korean shares end week lower as investors brace for US election

Reuters

South Korean shares end week lower as investors brace for US election

2024 11월 1 일, 오전 7:13 GMT

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KOSPI falls, foreigners net sellers

Korean won weakens against US dollar

South Korea benchmark bond yield falls

For the midday report, please click nL1N3M8043

SEOUL, Nov 1 (Reuters) -Round-up of South Korean financial markets:

** South Korean shares fell on Friday to their lowest in more than seven weeks, as investors stayed cautious ahead of the U.S. presidential election next week.

** The won weakened and the benchmark bond yield fell.

** The KOSPI .KS11 closed down 13.79 points, or 0.54%, at 2,542.36, its lowest since Sept. 11.

** The benchmark ended the week 1.05% lower, extending its losses to a third straight week.

** South Korea's export growth slowed to a seven-month low in October, data showed, in a sign that cooling global demand and the uncertainty surrounding the U.S. election are undermining the economy.

** "There was caution prevailing in the market ahead of the election, with the market having priced in a win by Donald Trump a little more," said Seo Jung-hun, an analyst at Samsung Securities.

** South Korea's factory activity shrank for a second straight month in October, with output falling by the most in 16 months, a survey showed.

** Chipmaker Samsung Electronics 005930.KS fell 1.52%, while peer SK Hynix 000660.KS shed 2.20%.

** Battery maker LG Energy Solution 373220.KS climbed 1.23%, while peers Samsung SDI 006400.KS and SK Innovation 096770.KS added 1.38% and 3.75%, respectively.

** Among other index heavyweights, e-commerce firms and biopharmaceuticals fell. Automakers were mixed.

** Of the total 940 traded issues, 290 advanced, while 601 declined.

** Foreigners were net sellers of shares worth 38.8 billion won ($28 million).

** The won was quoted at 1,379.4 per U.S. dollar on the onshore settlement platform KRW=KFTC, 0.17% lower than its previous close at 1,377.0.

** In money and debt markets, December futures on three-year treasury bonds KTBc1 rose 0.01 point to 105.86.

** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 0.4 basis points to 2.930%, while the benchmark 10-year yield KR10YT=RR fell by 6.1 basis points to 3.078%.

($1 = 1,378.6800 won)

Reporting by Jihoon Lee; Editing by Sumana Nandy

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South Korean shares end week lower as investors brace for US election

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