South Korean shares start week higher as chipmakers rise on upbeat data
- The benchmark KOSPI was up 101.16 points, or 1.47%, at 6,995.39
SEOUL: Round-up of South Korean financial markets:
South Korean shares rose on Monday, led by chipmakers after a rally in US semiconductor stocks in the previous session and upbeat domestic export data.
The benchmark KOSPI was up 101.16 points, or 1.47%, at 6,995.39, as of 0134 GMT.
Wall Street closed a volatile week on a muted note on Friday as benchmark US Treasury yields topped 5%, but the Philadelphia Semiconductor Index rose 2.8%.
South Korea’s exports for the first 20 days of this month hit a record high on a surge in chip sales, customs data showed.
Chipmaker Samsung Electronics rose 4.02% and peer SK Hynix gained 0.92%, leading the benchmark index higher.
Among other index heavyweights, battery maker LG Energy Solution slid 2.75%, while Hyundai Motor and sister automaker Kia Corp were down 1.10% and 1.64%, respectively.
Steelmaker POSCO Holdings shed 0.77%, while drugmaker Samsung BioLogics rose 0.14%.
Of the total 909 traded issues, 310 shares advanced, while 549 declined. Foreigners were net buyers of shares worth 113 billion won ($81.64 million).
The won was quoted at 1,384.9 per dollar on the onshore settlement platform, 0.04% higher than its previous close at 1,385.5.
In money and debt markets, December futures on three-year treasury bonds lost 0.05 point to 102.24.
The most liquid three-year Korean treasury bond yield rose by 1.0 basis point to 4.037%, while the benchmark 10-year yield fell by 0.5 basis point to 4.455%.‑Reuters
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