South Korean shares slightly higher as central bank holds rates

SEOUL: Round-up of South Korean financial markets:

South Korean shares slip after Nvidia curbs

• South Korean shares traded slightly higher on Thursday, as the central bank held interest rates steady, in line with market expectations.

• The won cut losses slightly to 1,418.9 soon after the central bank’s rate announcement.

• The benchmark KOSPI was up 8.98 points, or 0.37%, at 2,456.41 as of 0053 GMT.

• The Bank of Korea left its policy interest rate unchanged, a move markets see as aiding a wobbly won as Washington’s attempts to reorder global trade threaten to severely hurt economic growth.

• Investor focus is on US tariff policies, which are also likely to be a main topic at Bank of Korea Governor Rhee Chang-yong’s press conference due to be held at 0210 GMT.

• Most index heavyweights rose, including chipmakers, automakers, biopharmaceutical manufacturers and steel producers.

• Out of the total 928 traded issues, 531 shares advanced, while 334 declined.

• Foreigners were net sellers of shares worth 101.1 billion won ($71.12 million).

• The won was quoted at 1,420.1 per dollar on the onshore settlement platform, 0.30% lower than its previous close at 1,415.8. ** In money and debt markets, June futures on three-year treasury bonds fell 0.01 point to 107.61.

• The most liquid three-year Korean treasury bond yield rose by 0.1 basis points to 2.344%, while the benchmark 10-year yield fell by 0.3 basis points to 2.631%.