Skip to main content

Advertisement

Advertisement

Business

South Korea stocks track Wall Street gains as Fed calms inflation fears

South Korea stocks track Wall Street gains as Fed calms inflation fears

FILE PHOTO: A currency dealer wearing a mask works at a dealing room of a bank in Seoul, South Korea, January 6, 2021. REUTERS/Kim Hong-Ji

SEOUL: Round-up of South Korean financial markets:

** South Korean shares rose on Wednesday, tracking Wall Street gains overnight after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance that eased inflation concerns. The won held steady, while the benchmark bond yield fell.

** The benchmark KOSPI rose 10.43 points, or 0.33per cent, to 3,181.75 as of 0059 GMT. The index gained 0.86per cent on Monday.

** Among the heavyweights, technology giant Samsung Electronics rose 0.38per cent and peer SK Hynix rose 0.41per cent, while LG Chem fell 3.36per cent and Naver rose 1.40per cent.

** Foreigners were net buyers of 68.8 billion won (US$61.34 million) worth of shares on the main board.

** Investors await the Bank of Korea's rate decision on Thursday, where it is seen keeping interest rates at record lows for the rest of 2021, as COVID-19 uncertainties and worries about financial imbalances offset signs of a broader economic recovery.

** The won was quoted at 1,122.0 per dollar on the onshore settlement platform, unchanged from its previous close.

** In offshore trading, the won was quoted at 1,121.5 per dollar, up 0.1per cent from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,121.1.

** In money and debt markets, June futures on three-year treasury bonds rose 0.04 points to 110.99, while the 3-month Certificate of Deposit rate was quoted at 0.66per cent.

** The most liquid 3-year Korean treasury bond yield fell by 0.7 basis points to 1.136per cent, while the benchmark 10-year yield fell by 1.8 basis points to 2.111per cent.

(US$1 = 1,121.6300 won)

(Reporting by Joori Roh; Editing by Ramakrishnan M.)

Source: Reuters

Advertisement

Also worth reading

Advertisement