South Korean stocks close higher on expectations for Ukraine-Russia talks

SEOUL: Round-up of South Korean financial markets:

** South Korean shares rose on Monday, paring early losses on reports that Ukrainian authorities will hold talks with Russian counterparts. The Korean won weakened, while the benchmark bond yield fell.

** The benchmark KOSPI rose 22.42 points, or 0.84%, to 2,699.18 as of 06:32.

** Among the heavyweights, technology giant Samsung Electronics rose 0.28% and peer SK Hynix rose 0.41%, while LG Chem rose 1.99% and Naver rose 1.11%.

** Optmisim over talks between Russia and Ukraine pushed up shares after concerns over banning Russia from the SWIFT financial system shook markets, said Na Jeong-hwan, an analyst at Cape Investment & Securities.

South Korean stocks end higher after two days of decline

** South Korea will tighten export controls against Russia by banning exports of strategic items and join Western countries' moves to block some Russian banks from the SWIFT international payments system, Seoul's foreign ministry said on Monday.

** Foreigners were net buyers of 89.0 billion won worth of shares on the main board.

** The won was quoted at 1,202.3 per dollar on the onshore settlement platform, 0.06% lower than its previous close at 1,201.6.

** In offshore trading, the won was quoted at 1,203.9 per dollar, down 0.5% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,203.9.

** The KOSPI has fallen 9.35% so far this year, losing 8.6% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 603.97 million shares. Of the total traded 929 issues, 629 advanced.

** The won has lost 1.1% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.07 point to 108.07.

** The most liquid 3-year Korean treasury bond yield fell by 1.7 basis points to 2.227%, while the benchmark 10-year yield fell by 1.0 basis point to 2.661%.