South Korean shares climb, but steel sector decline caps gains

Kakao

10/03/2025 01:30

KOSPI rises, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield falls

SEOUL, March 10 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares climbed on Monday, tracking Wall Street's positive performance in the previous session, though gains were limited by a decline in steel manufacturers.

** The benchmark KOSPI .KS11 was up 11.41 points, or 0.45%, at 2,574.89, as of 0108 GMT.

** U.S. stocks finished higher on Friday, rebounding from early declines after Federal Reserve Chair Jerome Powell said the economy was "in a good place". .N

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 1.12%, but peer SK Hynix 000660.KS lost 1.61%. Battery maker LG Energy Solution 373220.KS climbed 0.88%.

** Hyundai Motor 005380.KS added 0.41% and sister automaker Kia Corp 000270.KS gained 0.93%, while search engine Naver 035420.KS and instant messenger Kakao 035720.KS were up 1.17% and up 2.63%, respectively.

** Shares of steelmaker POSCO Holdings 005490.KS fell 4.4% and Hyundai Steel 004020.KS lost 7.2% after U.S. Commerce Secretary Howard Lutnick said steel tariffs would take effect as scheduled on Wednesday.

** Of the total 936 traded issues, 368 shares advanced, while 516 declined.

** Foreigners were net sellers of shares worth 230.4 billion won ($159.32 million).

** The won was quoted at 1,445.7 per dollar on the onshore settlement platform KRW=KFTC, 0.26% higher than its previous close at 1,449.5.

** In money and debt markets, March futures on three-year treasury bonds KTBc1 fell 0.05 point to 106.75.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 2.1 basis points to 2.586%, while the benchmark 10-year yield KR10YT=RR fell by 1.7 basis points to 2.775%.

($1 = 1,446.1800 won)

 (Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)

 ((jihoon.lee@thomsonreuters.com;))