South Korea shares rebound, tracking Wall Street
- The benchmark KOSPI was up 20.42 points, or 0.51%, at 4,024.84
SEOUL: Round-up of South Korean financial markets:
South Korean shares rose on Thursday after a major setback a day earlier, tracking a rebound on Wall Street, where dip buyers returned to buy technology shares. The won weakened, while the benchmark bond yield rose.
The benchmark KOSPI was up 20.42 points, or 0.51%, at 4,024.84 as of 0202 GMT.
Among index heavyweights, chipmaker Samsung Electronics fell 0.80%, while peer SK Hynix gained 2.94%. Battery maker LG Energy Solution climbed 2.69%.
Hyundai Motor and sister automaker Kia Corp were down 0.47% and up 0.09%, respectively. Steelmaker POSCO Holdings shed 0.65%.
Of the total 928 traded issues, 446 shares advanced, while 431 declined.
US stock indexes gained on Wednesday as technology-related shares rebounded and as US private payrolls data was stronger than expected, while Treasury yields gained.
Data on Wednesday showed the US services sector activity increased to an eight-month high in October as new orders grew solidly, while private payrolls rose 42,000 last month, exceeding expectations.
Foreigners were net sellers of shares worth 731.6 billion won.
The won was quoted at 1,445.3 per dollar on the onshore settlement platform, 0.24% lower than its previous close at 1,441.8.
In offshore trading, the won was quoted at 1,445.1 per dollar, down 0.3% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,442.9.
The KOSPI has risen 67.74% so far this year.
The won has strengthened 1.9% against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds lost 0.07 point to 106.17.
The most liquid three-year Korean treasury bond yield rose by 2.5 basis points to 2.793%, while the benchmark 10-year yield rose by 4.6 basis points to 3.160%.