AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)
Markets

South Korean shares rise; domestic political developments in focus

  • The benchmark KOSPI gained 9.21 points, or 0.37%, to 2,506.61
Published January 15, 2025

SEOUL: Round-up of South Korean financial markets:

South Korean stocks slip as US jobs data curbs rate-cut bets

  • South Korean shares rose on Wednesday as investors’ focus remained on the local political developments, with investigating authorities seeking to arrest impeached President Yoon Suk Yeol.

  • The benchmark KOSPI gained 9.21 points, or 0.37%, to 2,506.61 as of 0121 GMT, after rising more than 1% earlier in the day.

  • Authorities attempted to enter Yoon’s residence this morning in a fresh bid to arrest him over insurrection accusations related to his Dec. 3, 2024, martial law declaration.

  • On Jan. 3, when investigators first attempted to arrest Yoon, the KOSPI jumped 1.8%. The attempt failed, however.

  • South Korea’s jobless rate jumped to the highest in 3-1/2 years in December 2024, as political turmoil stoked economic uncertainty and dampened sentiment.

  • The Bank of Korea is expected to lower interest rates by 25 basis points for the third straight meeting on Thursday, a month earlier than previously anticipated, although a weak local currency will likely pose a headache to policymakers.

  • Samsung Electronics rose 0.19% and peer SK Hynix gained 2.10%, tracking the Philadelphia Semiconductor Index’s 0.5% rise overnight.

  • Battery maker LG Energy Solution slid 1.12% after main customer Tesla shed 1.7%. Peers Samsung SDI and SK Innovation fell 2.1% and 1.1%, respectively. Battery materials makers also weakened.

  • Of the total 941 traded issues, 399 advanced and 469 declined.

  • Foreigners net bought shares worth 74.1 billion won ($50.7 million).

  • The won was quoted at 1,461.1 per US dollar on the onshore settlement platform, 0.06% higher than Tuesday’s close of 1,462.0.

  • The most liquid three-year Korean treasury bond yield rose by 2.6 bps to 2.663%, while the benchmark 10-year yield rose by 1.5 bps to 2.849%.

Comments

200 characters