South Korean shares track Wall Street higher on subdued US inflation data

  • KOSPI's trading volume was 506.92 million shares, with 634 stocks rising out of total 909.
11 Mar, 2021

SEOUL: Round-up of South Korean financial markets:

** South Korean shares rose after five straight sessions of fall on Thursday, following overnight Wall Street gains as subdued US inflation data calmed worries about interest rate hikes. The won strengthened, while the benchmark bond yield fell.

** The benchmark KOSPI rose 52.78 points, or 1.78%, to 3,010.90 as of 01:55 GMT.

** South Korea's exports during the first 10 days of March jumped 25.2% from a year earlier, preliminary data released by the customs agency showed.

** US consumer prices increased solidly in February, with households paying more for gasoline, but underlying inflation remained tepid.

** Foreign investors are coming back to local shares as interest rate concerns are easing, although worries about increasing yields still remain, sais Na Jeong-hwan, an analyst at DS Investment & Securities.

** Among the heavyweights, technology giant Samsung Electronics rose 1.24% and peer SK Hynix rose 3.01%, while LG Chem rose 4.49% and Naver rose 0.54%.

** Foreigners were net buyers of 350.5 billion won ($308.97 million) worth of shares on the main board.

** In offshore trading, the won was quoted at 1,137.0 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,136.8.

** KOSPI's trading volume was 506.92 million shares, with 634 stocks rising out of total 909.

** The won has lost 4.6% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.14 points to 111.23.

** The most liquid 3-year treasury bond yield fell by 3.4 basis points to 1.149%, while the benchmark 10-year yield fell by 1.6 basis points to 2.021%.

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