SEOUL: Round-up of South Korean financial markets: South Korean shares ended higher on Tuesday, boosted by tech heavyweights that tracked Nasdaq's gains and easing concerns over China's property sector. The won strengthened, while the benchmark bond yield fell.
The benchmark KOSPI closed 22.36 points, or 0.74pc, higher at 3,029.04, rebounding from a 0.28pc fall on Monday and marking the fourth gain in five sessions.
Chip giants Samsung Electronics and SK Hynix gained 0.57pc and 0.62pc, respectively, while platform companies Naver and Kakao added 2.77pc and 4.94pc each.
Battery maker Samsung SDI also soared 3.12pc after reports that the company agreed with global automaker Stellantis NV to jointly produce electric vehicle batteries for the North American market.
Foreigners were net buyers of 146.4 billion won ($124.16 million) worth of shares on the main board.
South Korean stocks, won weaken on inflation fears; bond yields jump after central bank meet
China Evergrande Group's main unit has remitted funds to pay an onshore bond coupon due on Tuesday, while a couple of other property firms made coupon payments this week, helping ease some concerns about the embattled and indebted sector.
Capping the gains were rising oil prices that recouped earlier losses, as falling temperatures in China revived concerns about its ability to meet heating demand needs amid power and coal shortages.
The won ended at 1,178.7 per dollar on the onshore settlement platform, 0.76pc higher than its previous close.
In offshore trading, the won was quoted at 1,178.4 per dollar, up 0.6pc from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,178.9.
In money and debt markets, December futures on three-year treasury bonds rose 0.07 point to 108.62.
The benchmark 10-year yield fell by 1.9 basis points to 2.380pc.
Comments
Comments are closed.