South Korean shares little changed as Samsung Electronics drags
- The benchmark KOSPI was down 1.84 points, or 0.07%, at 2,628.45
SEOUL: Round-up of South Korean financial markets:
South Korean shares end marginally lower as chipmakers fall
South Korean shares were little changed on Wednesday, as gains in automakers and steel producers countered losses in technology giant Samsung Electronics.
The benchmark KOSPI was down 1.84 points, or 0.07%, at 2,628.45, as of 0339 GMT.
The market was range-bound as investors awaited new clues on market direction after the Bank of Korea’s decision to lower interest rates on Tuesday.
Among index heavyweights, chipmaker Samsung Electronics fell 1.22% after the company denied media reports that it was considering buying Classys, while peer SK Hynix gained 0.75%. Battery maker LG Energy Solution climbed 0.13%.
Hyundai Motor rose 0.74% and sister automaker Kia Corp gained 0.21%, while steelmaker POSCO Holdings and Hyundai Steel jumped 2% each.
Of the total 939 traded issues, 468 shares advanced, while 413 declined.
Foreigners were net sellers of shares worth 354.5 billion won ($247.54 million).
The won was quoted at 1,432.0 per dollar on the onshore settlement platform, 0.17% higher than its previous close at 1,434.4.
In money and debt markets, March futures on three-year treasury bonds rose 0.09 point to 106.85.
The most liquid three-year Korean treasury bond yield fell by 2.1 basis points to 2.577%, while the benchmark 10-year yield fell by 4.6 basis points to 2.752%.