South Korea shares jump on Wall St rally, upbeat trade data

SEOUL: Round-up of South Korean financial markets:

** South Korean shares closed higher on Tuesday as trading resumed after a long weekend, with a new stimulus plan, upbeat export data and a Wall Street rally overnight lifting investor sentiment. The won inched lower, while the benchmark bond yield fell.

** South Korean financial markets were closed on Monday for a public holiday. ** The benchmark KOSPI closed up 30.92 points, or 1.03%, at 3,043.87, after rising as much as 2.77%.

** Among the heavyweights, technology giant Samsung Electronics rose 1.33% and peer SK Hynix added 2.12%, while battery makers LG Chem and Samsung SDI gained 7.22% and 1.48%, respectively.

** US stocks surged overnight, with the S&P 500 posting its best day in nearly nine months, as investors took lower US bond yields in stride on optimism over the $1.9 trillion coronavirus relief bill and distribution of Johnson & Johnson's newly authorised COVID-19 vaccine.

** South Korea's exports expanded for a fourth straight month in February on continued growth in memory chip and car sales.

** Meanwhile, the country unveiled a 15 trillion won ($13.35 billion) extra budget to boost support for small businesses and safeguard jobs as the resurgent coronavirus forces the government to retain social distancing curbs.

** Foreigners were net buyers of 212.6 billion won worth of shares on the main board.

** The won was quoted at 1,124.0 per dollar on the onshore settlement platform, 0.04% lower than its previous close at 1,123.5.

** In offshore trading, the won was quoted at 1,123.9 per dollar, down 0.9% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,123.9.

** The most liquid 3-year Korean treasury bond yield fell by 0.3 basis point to 1.017%.