South Korean stocks edge up amid cautious optimism over US trade talks

Kakao

28/04/2025 02:07

KOSPI rises, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield falls

SEOUL, April 28 (Reuters) - Round-up of South Korean financial markets:

     ** South Korean shares edged higher on Monday in a cautious start to the week as investors assessed interim progress in trade negotiations between Seoul and Washington. The won strengthened, while the benchmark bond yield fell. ** The benchmark KOSPI .KS11 was up 5.37 points, or 0.18%, at 2,551.67, as of 0049 GMT.  ** Among index heavyweights, chipmaker Samsung Electronics 005930.KS was flat and peer SK Hynix 000660.KS lost 1.03%, while battery maker LG Energy Solution 373220.KS climbed 0.44%. ** Shares of Hyundai Motor 005380.KS shed 0.32% and sister automaker Kia Corp 000270.KS gained 0.11%, while search engine Naver 035420.KS and instant messenger Kakao 035720.KS were up 1.09% and up 0.66%, respectively.

** South Korean Industry Minister Ahn Duk-geun said on Saturday that Seoul plans to approach trade talks with the United States "calmly and cautiously."

** U.S. Treasury Secretary Scott Bessent was encouraged by Thursday's discussions with South Korean officials that focussed on "an expanded equilibrium which encourages rather than restricts trade," the Treasury Department said on Friday.         ** Of the total 933 traded issues, 434 shares advanced, while 435 declined. ** Foreigners were net sellers of shares worth 50.3 billion won on the main board on Monday. ** The won was quoted at 1,436.8 per dollar on the onshore settlement platform KRW=KFTC, 0.21% higher than its previous close at 1,439.8. ** In offshore trading, the won KRW= was quoted at 1,436.3 per dollar, up 0.1% on the day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,433.3. ** The won has gained 2.5% against the dollar so far this year. ** In money and debt markets, June futures on three-year treasury bonds KTBc1 fell 0.01 point to 107.75. ** The most liquid three-year Korean treasury bond yield KR3YT=RR fell 0.3 basis points to 2.311%, while the benchmark 10-year yield KR10YT=RR lost 1.3 basis points to 2.569%.

 (Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips)

 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))