South Korean shares rise for third day on autos boost

SEOUL: Round-up of South Korean financial markets:  

• South Korean shares rose for a third straight session on Wednesday, led by gains in automakers amid efforts to expedite the implementation of a trade deal with the US.
• The benchmark KOSPI was up 34.25 points, or 0.65%, at 5,335.94, as of 0201 GMT.
• South Korea will set up a committee to conduct preliminary reviews of US investment projects as it seeks to speed up the implementation of a $350 billion investment package pledged under a trade deal with Washington, officials said on Tuesday.
• South Korea’s exports in the first 10 days of this month rose 44.4% from a year earlier, data showed.
• Hyundai Motor and sister automaker Kia Corp were up 3.64% and up 3.36%, respectively, leading gains among major index heavyweights. Chipmaker Samsung Electronics rose 0.12%, while peer SK Hynix fell 1.26%.
• The two firms plan to start building data centres in South Korea with US artificial intelligence firm OpenAI from March.
• Battery maker LG Energy Solution was flat, while steelmaker POSCO Holdings shed 0.27%.
• Drugmaker Samsung BioLogics rose 0.64%. Of the total 927 traded issues, 458 shares advanced, while 417 declined.
• Foreigners were net sellers of shares worth 276.5 billion won ($189.92 million).
• The won was quoted at 1,456.0 per dollar on the onshore settlement platform, 0.08% higher than its previous close at 1,457.2.
• In money and debt markets, March futures on three-year treasury bonds gained 0.13 point to 105.00.
• The most liquid three-year Korean treasury bond yield fell by 3.2 basis points to 3.195%, while the benchmark 10-year yield fell by 6.8 basis points to 3.640%.‑Reuters