Automakers boost South Korean shares higher

SEOUL: Round-up of South Korean financial markets:

• South Korean shares rose on Wednesday to their highest levels since September 2021, led by gains in automakers on demand optimism. The won strengthened, while the benchmark bond yield fell.

• The benchmark KOSPI added 12.43 points, or 0.4%, to 3,116.07 as of 0129 GMT, building on its nearly 3% gain on Tuesday.

• Hyundai Motor and sister automaker Kia rose 5.34% and 4.75%, respectively, pulling the benchmark index higher.

• US consumer confidence deteriorated unexpectedly in June as households increasingly worried about job availability. However, the purchasing plans for cars were steady at their highest since December 2024.

• South Korea’s auto exports jumped 9.2% in the first 20 days of June, data showed earlier this week.

• Among other index heavyweights, chipmaker Samsung Electronics rose 0.17% and peer SK Hynix gained 2.87%. Battery maker LG Energy Solution lost 0.67%.

• Steelmaker POSCO Holdings added 2.09%, while drugmaker Samsung BioLogics fell 0.1%.

• Of the total 934 traded issues, 466 advanced and 418 declined.

• Foreigners were net sellers of shares worth 218.2 billion won ($160.6 million).

• The won was quoted at 1,358.1 per dollar on the onshore settlement platform, 0.24% higher than Tuesday’s close of 1,361.4.

• In money and debt markets, September futures on three-year treasury bonds gained 0.05 point to 107.22.

• The most liquid three-year Korean treasury bond yield fell 0.8 basis point to 2.448%, while the benchmark 10-year yield shed 1.6 basis points to 2.814%.