S.Korea stocks set to snap four-day rally as U.S. jobs data looms

KakaoBank

02/09/2021 03:26

* KOSPI falls, foreigners net sellers
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, Sept 2 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares on Thursday were set to end a
four-day rally as investors awaited a key U.S. jobs data for
clues on when the Federal Reserve might start reducing its
pandemic-era stimulus. The won and the benchmark bond yield
weakened.
    
    ** The KOSPI  .KS11  was down 24.63 points, or 0.77%, at
3,182.39 by 0200 GMT, pulled down by tech heavyweights.
    
    ** Chip giants Samsung Electronics  005930.KS  and SK Hynix
 000660.KS  tumbled 1.04% and 1.39%, respectively. Internet
giant Naver  035420.KS  slid 0.34%.
    
    ** Shares of KakaoBank  323410.KS  plunged more than 8%
after a local media outlet https://www.mk.co.kr/news/stock/view/2021/09/845710
 reported that Korea Post, the country's No.2 pension fund, is
seeking to sell up around 1 trillion won ($862.62 million) worth
stake in KakaoBank in a block trade.  urn:newsml:reuters.com:*:nL1N2Q404Q
    
    ** Investors are awaiting U.S. non-farm payrolls data, due
on Friday, as Fed chair Jerome Powell said last week that the
jobs recovery would determine the timing of the asset purchase
tapering.
    
    ** Surveys this week showed Asian and European factory
activity lost momentum last month as the coronavirus pandemic
disrupted supply chains.  urn:newsml:reuters.com:*:nL1N2Q30FL
    
    ** South Korea's August consumer inflation stayed at a
nine-year peak, fuelled by a continued spike in prices of fresh
food due to a heat wave and the rising cost of oil products,
housing rental and other services.  urn:newsml:reuters.com:*:nL1N2Q32VA
    
    ** Foreigners were net sellers of 364.2 billion won worth of
shares on the main board. 
    
    ** The won was quoted at 1,159.2 per dollar on the onshore
settlement platform  KRW=KFTC , 0.17% lower than its previous
close at 1,157.2.
    
    ** In offshore trading, the won  KRW=  was quoted at 1,159.2
per dollar, down 0.3% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,159.4.
    
    ** In money and debt markets, September futures on
three-year treasury bonds  KTBc1  fell 0.02 points to 110.47.
    
    ** The benchmark 10-year yield fell by 0.7 basis points to
1.935%.
    
    ($1 = 1,159.2600 won)

 (Reporting by Joori Roh, Editing by Sherry Jacob-Phillips)
 ((joori.roh@thomsonreuters.com; +82 2 6936 1493;))