South Korean shares hit more than 3-year high, tracking Wall Street rally

SEOUL: Round-up of South Korean financial markets:

• South Korean shares hit more than three-year high on Tuesday, tracking Wall Street’s overnight rally, as investors digested mixed domestic data.

• The benchmark KOSPI added 59.11 points, or 1.92%, to 3,130.81, its highest intraday level since September 27, 2021, as of 0131 GMT.

• South Korea’s exports rose in June on strong tech demand but slightly missed market expectations as shipments to the US and China remained weak amid tariff uncertainty.

• Factory activity contracted for the fifth straight month in June, though the pace of decline eased, supported by improving domestic economic prospects under the country’s new administration.

• “Exports data will set different momentum for each sector,” said Han Ji-young, an analyst at Kiwoom Securities.

• Among index heavyweights, chipmaker Samsung Electronics rose 1.67%, while peer SK Hynix lost 0.51%. Battery maker LG Energy Solution added 0.34%.

• Hyundai Motor and sister automaker Kia gained 2.21% and 2.17%, respectively. Steelmaker POSCO Holdings grew 4.41%, while drugmaker Samsung BioLogics advanced 0.6%.

• Of the total 934 traded issues, 774 advanced and 137 declined.

• Foreigners were net buyers of shares worth 205.2 billion won ($152 million).

• The won was quoted at 1,349.5 per dollar on the onshore settlement platform, 0.43% higher than Monday’s close of 1,355.3.

• In the money and debt markets, September futures on three-year treasury bonds were unchanged at 107.25.

• The most liquid three-year Korean treasury bond yield rose 0.2 basis point to 2.460%, while the benchmark 10-year yield gained 0.8 basis point to 2.805%.