South Korean shares dip ahead of impeachment vote

SEOUL: Round-up of South Korean financial markets:

South Korean stocks close higher for second session

• South Korean shares edged lower on Friday, after three consecutive sessions of gains, as traders maintained a cautious stance ahead of a planned parliamentary vote to impeach President Yoon Suk Yeol.

• The won weakened, while the benchmark bond yield rose. ** The benchmark KOSPI was down 4.08 points, or 0.16%, at 2,478.04, as of 0146 GMT.

• South Korean opposition leader Lee Jae-myung said the best way to restore order in the country is to impeach the president, a day ahead of a planned parliamentary vote over Yoon’s short-lived imposition of martial law.

• South Korea’s finance ministry said authorities will deploy more measures to stabilise markets if volatility heightens excessively after the voting result on Saturday.

• Among index heavyweights, chipmaker Samsung Electronics was flat, while peer SK Hynix lost 1.14% and battery maker LG Energy Solution slid 3.34%.

• Shares of Hyundai Motor were flat, while sister automaker Kia Corp lost 0.10%. Search engine Naver and instant messenger Kakao were up 0.48% and 4.46%, respectively.

• Of the total 937 traded issues, 458 shares advanced, while 412 declined.

• Foreigners were net sellers of shares worth 138.4 billion won ($96.61 million).

• The won was quoted at 1,432.2 per dollar on the onshore settlement platform, 0.12% lower than its previous close at 1,430.5.

• In money and debt markets, December futures on three-year treasury bonds rose 0.01 point to 106.72.

• The most liquid three-year Korean treasury bond yield was flat at 2.551%, while the benchmark 10-year yield rose 1.0 basis points to 2.710%.