South Korean shares fall as losses in chipmakers overshadow automakers’ rally

SEOUL: Round-up of South Korean financial markets:

South Korean shares track Wall Street lower, but set for weekly gain

• South Korean shares fell on Tuesday, as chipmakers extended losses and overshadowed a rally in automakers.

• The benchmark KOSPI was down 11.49 points, or 0.44%, at 2,620.58, as of 0259 GMT.

• Samsung Electronics fell 0.66% and peer SK Hynix lost 1.30%, extending losses for a second day.

• Hyundai Motor added 3.99% and sister automaker Kia Corp gained 1.93%, after the automotive group announced a $21 billion investment in the United States with President Donald Trump.

• Hyundai Steel, however, erased early gains to trade down 4.92%, after its $5.8 billion investment plan that was part of Hyundai Motor Group’s announcement.

• Of the total 939 traded issues, 276 shares advanced, while 589 declined.

• Foreigners were net sellers of shares worth 80.5 billion won ($54.74 million).

• The won was quoted at 1,470.7 per dollar on the onshore settlement platform, 0.07% lower than its previous close at 1,469.7.

• In money and debt markets, June futures on three-year treasury bonds fell 0.04 point to 106.78.

• The most liquid three-year Korean treasury bond yield rose by 0.8 basis points to 2.612%, while the benchmark 10-year yield rose by 0.1 basis points to 2.819%.