South Korean shares little changed as Samsung Electronics drags

SEOUL: Round-up of South Korean financial markets:

South Korean shares end marginally lower as chipmakers fall

• South Korean shares were little changed on Wednesday, as gains in automakers and steel producers countered losses in technology giant Samsung Electronics.

• The benchmark KOSPI was down 1.84 points, or 0.07%, at 2,628.45, as of 0339 GMT.

• The market was range-bound as investors awaited new clues on market direction after the Bank of Korea’s decision to lower interest rates on Tuesday.

• Among index heavyweights, chipmaker Samsung Electronics fell 1.22% after the company denied media reports that it was considering buying Classys, while peer SK Hynix gained 0.75%. Battery maker LG Energy Solution climbed 0.13%.

• Hyundai Motor rose 0.74% and sister automaker Kia Corp gained 0.21%, while steelmaker POSCO Holdings and Hyundai Steel jumped 2% each.

• Of the total 939 traded issues, 468 shares advanced, while 413 declined.

• Foreigners were net sellers of shares worth 354.5 billion won ($247.54 million).

• The won was quoted at 1,432.0 per dollar on the onshore settlement platform, 0.17% higher than its previous close at 1,434.4.

• In money and debt markets, March futures on three-year treasury bonds rose 0.09 point to 106.85.

• The most liquid three-year Korean treasury bond yield fell by 2.1 basis points to 2.577%, while the benchmark 10-year yield fell by 4.6 basis points to 2.752%.