S.Korean shares fall for second day on caution ahead of monetary policy events

Kakao

17/12/2024 06:51

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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 rises
    

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      For the midday report, please click  urn:newsml:reuters.com:*:nL1N3NI01K
    

  
       SEOUL, Dec 17 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares fell for a second straight session on
Tuesday, as investors remained cautious ahead of major central
bank events at home and abroad. 
    ** The won weakened, while the benchmark bond yield rose.
    ** The benchmark KOSPI  .KS11  closed down 32.16 points, or
1.29%, at 2,456.81. On Monday, it had fallen 0.2%. 
    ** Investors see a quarter-point rate cut at the Fed's Dec.
17-18 meeting as a near certainty but are bracing for the
central bank to scale back its easing in 2025 in anticipation of
higher inflation under the Trump administration.
    ** The Bank of Korea will later in the day release the
minutes of its latest meeting in November, during which the
central bank delivered its first back-to-back rate cuts since
2009.    
    ** "Investor focus is on U.S. policy, the Federal Reserve
and the semiconductor industry, with foreigner selling seen in
related sectors," said Seo Sang-young, an analyst at Mirae Asset
Securities.     
    ** Among index heavyweights, chipmaker Samsung Electronics
 005930.KS  fell 2.52%, but peer SK Hynix  000660.KS  gained
2.62%. Battery maker LG Energy Solution  373220.KS  slid 3.89%.
    ** Of the total 940 traded issues, 386 shares advanced,
while 496 declined.
    ** Foreigners were net sellers of shares worth 711.4 billion
won ($494.30 million).
    ** The won was quoted at 1,438.9 per dollar on the onshore
settlement platform  KRW=KFTC , 0.20% weaker than its previous
close at 1,436.0.
    ** In money and debt markets, December futures on three-year
treasury bonds  KTBc1  fell 0.08 points to 106.63.
    ** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  rose by 5.0 basis points to 2.612%, while the
benchmark 10-year yield  KR10YT=RR  rose by 5.0 basis points to
2.777%.

($1 = 1,439.2000 won)

 (Reporting by Jihoon Lee; Editing by Abinaya Vijayaraghavan)
 ((jihoon.lee@thomsonreuters.com;))