South Korean shares climb nearly 2% as Wall Street rally boosts sentiment
- The benchmark KOSPI was up 135.91 points, or 1.94%, at 7,143.63
SEOUL: Round-up of South Korean financial markets:
South Korean shares rose on Tuesday, tracking Wall Street gains after the S&P 500 and Nasdaq 100 posted their biggest advances since early August.
The won strengthened 1% against the dollar, while the benchmark bond yield fell.
The benchmark KOSPI was up 135.91 points, or 1.94%, at 7,143.63 as of 00:59 GMT. Shares of chipmaker Samsung Electronics rose 2.28%, while peer SK Hynix gained 2.94%.
The Nasdaq hit a record close on Monday, lifted by Advanced Micro Devices and other AI heavyweights, while lower oil prices and long-dated Treasury yields also boosted risk sentiment.
The South Korean government is due to brief lawmakers on Tuesday on plans for a $350 billion US investment package, a key step as Seoul and Washington seek to finalise implementation of a trade deal that cut US tariffs on South Korean goods to 15%.
Among other index heavyweights, battery maker LG Energy Solution climbed 0.43%, while Hyundai Motor and sister automaker Kia Corp were up 2.30% and 0.92%, respectively.
Shares of steelmaker POSCO Holdings added 0.63%, while drugmaker Samsung BioLogics edged 0.07% higher.
Of the total 906 traded issues, 458 shares advanced, while 381 declined.
Foreigners were net buyers of shares worth 162.8 billion won.
The won was quoted at 1,365.7 per dollar on the onshore settlement platform, 0.71% higher than its previous close at 1,375.4.
The KOSPI has risen 69.51% so far this year.
The won has strengthened 5.4% against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds gained 0.04 point to 102.26.
The most liquid three-year Korean treasury bond yield fell 1.1 basis points to 4.044%, while the benchmark 10-year yield fell 0.8 basis points to 4.438%. ‑Reuters
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