South Korean shares edge higher as central bank holds rates
KOSPI rises, foreigners net sellers
Korean won strengthens against dollar
South Korea benchmark bond yield rises
SEOUL, Aug 22 (Reuters) -Round-up of South Korean financial markets:
** South Korean shares inched higher on Thursday after the central bank held interest rates as expected, with investors awaiting comments from the governor for clues on the future policy path.
** The won strengthened, while the benchmark bond yield rose.
** The benchmark KOSPI .KS11 rose 3.87 points, or 0.14%, to 2,705.00 by 0118 GMT, extending gains to a third session.
** South Korea's central bank kept interest rates unchanged for a 13th straight meeting, as policymakers prioritised the need to keep stubborn inflation in check even as the case for rate cuts later this year grows.
** The Bank of Korea downgraded its forecasts for this years' economic growth and inflation.
** Governor Rhee Chang-yong will hold a press conference at around 0210 GMT.
** The Federal Reserve appears to be very much on track for an interest rate cut in September after a "vast majority" of officials said such an action was likely, according to the minutes of the U.S. central bank's July 30-31 meeting.
** Chipmaker Samsung Electronics 005930.KS fell 0.26% and peer SK Hynix 000660.KS lost 0.47%, while battery maker LG Energy Solution 373220.KS climbed 3.71%.
** Among other index heavyweights, automakers fell, while e-commerce and biopharmaceutical stocks rose.
** Of the total 935 traded issues, 325 shares advanced, while 543 declined.
** Foreigners were net sellers of shares worth 94.3 billion won ($70.59 million).
** The won was quoted at 1,333.9 per dollar on the onshore settlement platform KRW=KFTC, 0.07% higher than its previous close at 1,334.8.
** In money and debt markets, September futures on three-year treasury bonds KTBc1 rose 0.03 point to 105.90.
** The most liquid three-year Korean treasury bond yield fell by 1.0 basis point to 2.928%, while the benchmark 10-year yield rose by 1.2 basis points to 2.990%.
($1 = 1,335.8400 won)
Reporting by Jihoon Lee; Editing by Subhranshu Sahu
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