South Korean shares fall for a second day as political uncertainty spikes

SEOUL: Round-up of South Korean financial markets:

South Korean stocks rise, tracking Wall Street gains

• South Korean shares fell for a second straight day on Thursday amid heightened political uncertainty with the president facing an impeachment push.

• The won and the benchmark bond yield were little changed.

• The benchmark KOSPI was down 6.06 points, or 0.25%, at 2,457.94 as of 0226 GMT, after a fall of 1.4% on Wednesday.

• South Korea’s parliament introduced a motion on Thursday to impeach President Yoon Suk Yeol over a botched attempt to impose martial law, but his party vowed to oppose the move, throwing the process into doubt.

• South Korea’s finance ministry said on Thursday that the government would activate 40 trillion won ($28.35 billion) worth of market stabilization funds.

• Asia’s fourth-largest economy grew 0.1% in the third quarter, revised central bank data showed, unchanged from its advance estimates issued in October.

• Among index heavyweights, chipmaker Samsung Electronics rose 1.88% and peer SK Hynix gained 4.05%, while battery maker LG Energy Solution climbed 0.13%.

• Hyundai Motor shed 1.67% and sister automaker Kia Corp lost 2.75%, while search engine Naver and instant messenger Kakao were up 1.73% and down 5.04%, respectively.

• Of the total 935 traded issues, 247 shares advanced, while 641 declined.

• Foreigners were net sellers of shares worth 223 billion won ($157.7 million).

• The won was quoted at 1,415.0 per dollar on the onshore settlement platform, 0.10% lower than its previous close at 1,413.6.

• In money and debt markets, December futures on three-year treasury bonds fell 0.04 point to 106.71.

• The most liquid three-year Korean treasury bond yield rose by 4.6 basis points to 2.640%, while the benchmark 10-year yield rose by 0.7 basis points to 2.773%.