South Korean stocks rebound as inflation fears fade, foreigners snap 9-day selling run

SEOUL: Round-up of South Korean financial markets:

** South Korean shares rebounded on Tuesday, tracking Wall Street gains overnight on eased inflation worries, and as foreign investors ended a nine-day selling run. Both the won and the benchmark bond yield rose.

** The benchmark KOSPI closed up 27.02 points, or 0.86%, at 3,171.32, snapping a three-day losing streak.

** Among heavyweights, technology giant Samsung Electronics rose 0.25% and peer SK Hynix climbed 2.93%, while internet giant Naver added 0.70%.

** Foreigners were net buyers of 68.3 billion won ($60.91 million) worth of shares on the main board, ending a selling run that began on May 11.

** Meanwhile, the country's central bank is seen keeping its interest rates at record lows on Thursday and for the rest of 2021, as COVID-19 uncertainties and worries about financial imbalances offset signs of a broader economic recovery.

** The won ended at 1,122.0 per dollar on the onshore settlement platform, 0.45% higher than its previous close at 1,127.1.

** In offshore trading, the won was quoted at 1,121.5 per dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,120.9.

** In money and debt markets, June futures on three-year treasury bonds fell 0.05 point to 110.97.

** The most liquid 3-year Korean treasury bond yield rose by 2.1 basis points to 1.137%, while the benchmark 10-year yield rose by 0.6 basis point to 2.126%.