South Korean stocks slip as US jobs data curbs rate-cut bets

Kakao

13/01/2025 02:37

* 
      KOSPI falls, foreigners net sellers
    

        * 
      Korean won weakens against dollar
    

        * 
      South Korea benchmark bond yield rises
    

  
       SEOUL, Jan 13 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korean shares fell on Monday after better-than-expected
U.S. payroll data reinforced bets that the Federal Reserve will
be cautious in trimming interest rates this year. The won
weakened, while the benchmark bond yield rose. 
** The benchmark KOSPI  .KS11  was down 25.37 points, or 1.01%,
at 2,490.44, as of 0218 GMT. 
** Among index heavyweights, chipmaker Samsung Electronics
 005930.KS  fell 1.63% and peer SK Hynix  000660.KS  lost 3.19%,
while battery maker LG Energy Solution  373220.KS  was flat. 
** Hyundai Motor  005380.KS  shed 2.88% and sister automaker Kia
Corp  000270.KS  lost 1.70%, while search engine Naver
 035420.KS  and instant messenger Kakao  035720.KS  were down
0.25% and down 0.27%, respectively. 
** U.S. job growth unexpectedly accelerated in December, while
the unemployment rate fell to 4.1%, as the labor market ended
the year on a solid footing, reinforcing views that the Federal
Reserve would keep interest rates unchanged this month. 
** Of the total 943 traded issues, 202 shares advanced, while
694 declined. 
** Foreigners were net sellers of shares worth 365.1 billion won
on the main board on Monday. 
** The won was quoted at 1,472.4 per dollar on the onshore
settlement platform  KRW=KFTC , 0.03% lower than its previous
close at 1,472.0.
** In offshore trading, the won  KRW=  was quoted at 1,471.6 per
dollar, up 0.1% on the day, while in non-deliverable forward
trading its one-month contract  KRW1MNDFOR=  was quoted at
1,469.6.
** The KOSPI has risen 3.79% so far this year, but lost 0.2% in
the previous 30 trading sessions.
** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  fell 0.21 point to 106.61. 
** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  rose 9.5 basis points to 2.656%, while the benchmark
10-year yield  KR10YT=RR  rose by 19.8 basis points to 2.880%.
    
    

 (Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips)
 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters
Messaging: cynthia.kim.thomsonreuters.com@reuters.net))