S.Korean shares fall over 1% on Wall Street weakness

Eugene Investment & Securities Co

20/10/2022 03:48

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      KOSPI falls, foreigners net sellers
    

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      Korean won weakens against dollar
    

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      South Korea benchmark bond yield inches up
    

  
       SEOUL, Oct 20 (Reuters) - Round-up of South Korean
financial markets:
    ** South Korean shares fell more than 1% on Thursday,
dragged by financial firms, as markets tracked inflation
worries-led losses on Wall Street overnight. The won weakened,
while the benchmark bond yield inched up.
    ** The benchmark KOSPI  .KS11  fell 31.01 points, or 1.39%,
to 2,206.43 by 0159 GMT, extending losses for a second day. 
    ** "Monetary tightening is a constant variable putting heavy
downward pressure on the stock market, with high inflation
figures for the eurozone and the UK," said Shinhan Securities'
analyst Choi Yoo-june.
    ** Eurozone's annual inflation rate for the last month was
revised down marginally but was still at a record high, data
showed on Wednesday, following that for the United Kingdom
matching a 40-year high hit in July. 
    ** Meanwhile, South Korea's financial regulator said it may
ease some of the liquidity requirements for financial companies
as there are signs of stress in the short-term money market.
    ** Security brokerages slumped on concerns of a liquidity
crunch. Kiwoom Securities  039490.KS  dropped 7.62%, Korea
Investment Holdings  071050.KS  fell 6.85%, and Eugene
Investment and Securities  001200.KS  lost 5.50%, among others.
    ** Among heavyweights, technology giant Samsung Electronics
 005930.KS  fell 1.08%, peer SK Hynix  000660.KS  dropped 4.09%,
and battery maker LG Energy Solution  373220.KS  declined 2.21%.
    ** Foreigners were net sellers of shares worth 273.1 billion
won ($190.35 million) on the main board, after 13 buying
sessions.
    ** The won was quoted at 1,435.1 per dollar on the onshore
settlement platform  KRW=KFTC , down 0.62%.
    ** In offshore trading, the won  KRW=  was quoted flat at
1,435.6 per dollar, while in non-deliverable forward trading its
one-month contract  KRW1MNDFOR=  was quoted at 1,435.2.
    ** In money and debt markets, December futures on three-year
treasury bonds  KTBc1  rose 0.07 point to 101.58.
    ** The most liquid three-year Korean treasury bond yield
rose by 0.1 basis point to 4.324%, while the benchmark 10-year
yield rose by 0.4 basis point to 4.382%.
($1 = 1,434.7300 won)
 (Reporting by Jihoon Lee; editing by Uttaresh.V)
 ((jihoon.lee@thomsonreuters.com;))