South Korean stocks end higher after two days of decline

SEOUL: Round-up of South Korean financial markets:

** South Korean shares ended higher on Wednesday, recovering from two straight sessions of losses, although gains were capped by concerns around the Russia-Ukraine crisis. The Korean won weakened and the benchmark bond yield rose.

** The benchmark KOSPI closed up 12.74 points, or 0.47%, at 2,719.53.

** Among heavyweights, chip giant Samsung Electronics fell 0.54%, while battery maker LG Energy Solution gained 0.45%.

South Korea stocks dip amid US rate hike bets, record COVID cases

** Western nations on Tuesday punished Russia with new sanctions for ordering troops into separatist regions of eastern Ukraine and threatened to go further if Moscow launched an all-out invasion of its neighbour.

** At home, South Korea reported 171,452 new coronavirus cases for Tuesday, another daily record and a sharp increase from 99,573 a day before. However, the prime minister called on people not to panic about the surge in infections as serious cases and deaths are at manageable levels.

** Foreigners were net sellers of 265.1 billion won ($222.28 million) worth of shares on the main board.

** The won finished at 1,193.6 per dollar on the onshore settlement platform, 0.08% lower than its previous close.

** In offshore trading, the won was quoted at 1,192.9 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,193.4.

** In money and debt markets, March futures on three-year treasury bonds rose 0.04 point to 107.74, while the 3-month Certificate of Deposit rate was quoted at 1.50% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield fell by 1.0 basis points to 2.317%, while the benchmark 10-year yield rose by 0.5 basis point to 2.722%.