South Korea stocks slip despite stellar exports as oil worries weigh

SEOUL: Round-up of South Korean financial markets:

South Korean shares slipped on Thursday despite stellar September trade data, as elevated global oil prices and uncertainty over the sustainability of recovering Middle East oil flows clouded risk sentiment.

The won weakened, while the benchmark bond yield rose.

The benchmark KOSPI was down 14.60 points, or 0.21%, at 6,823.44 as of 00:56 GMT.

Chipmaker Samsung Electronics fell 0.19%, while peer SK Hynix gained 0.23%.

Among other index heavyweights, battery maker LG Energy Solution was flat, while Hyundai Motor and sister automaker Kia Corp were down 0.07% and up 0.27%, respectively.

South Korea’s exports jumped 83.5% in September to a record $120.9 billion year-on-year, government data showed on Thursday, as semiconductor shipments more than tripled on global spending on artificial intelligence.

Steelmaker POSCO Holdings shed 0.16%, while drugmaker Samsung BioLogics rose roughly 2%.

US President Donald Trump unveiled plans on Wednesday for South Korea to invest some $200 billion in US projects, but Seoul quickly suggested one key element, a $54 billion pipeline for an LNG project in Alaska, was not yet set in stone.

Of the total 905 traded issues, 354 shares advanced, while 487 declined.

Foreigners were net sellers of shares worth 494.4 billion won.

The won was quoted at 1,359.4 per dollar on the onshore settlement platform, 0.27% lower than its previous close at 1,355.7.

The KOSPI has risen 61.92% so far this year.

The won has strengthened 5.9% against the dollar so far this year.

In money and debt markets, December futures on three-year treasury bonds lost 0.07 point to 102.30.

The most liquid three-year Korean treasury bond yield rose 2.4 basis points to 4.035%, while the benchmark 10-year yield rose 5.0 basis points to 4.451%.