South Korean shares snap four-day slump in wobbly trade

Korea Electric Power

15/05/2023 07:30

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      KOSPI rises, 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:*:nL4N37C0J8
    

  
       SEOUL, May 15 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares reversed early losses to close higher
on Monday, snapping a four-session losing streak, although
global trading sentiment was wobbly due to uncertainties over
the U.S. debt ceiling negotiations.
    ** The benchmark KOSPI  .KS11  rose 3.93 points, or 0.16%,
to end at 2,479.35, after falling up to 0.2% on the day.
    ** Uncertainty regarding the raising of the debt ceiling for
the U.S. weighed on investor sentiment, where President Joe
Biden is set to meet congressional leaders in order to raise the
nation's debt limit to avoid a default.
    ** Underscoring the nervous sentiment, the number of losing
stocks far outpaced gainers by 552 to 316, while the KOSPI
averted a slide, supported by heavyweight Samsung Electronics
 005930.KS  and LG Chem  051910.KS .
    ** Samsung Electronics rose 0.62% and peer SK Hynix
 000660.KS  lost 0.92%, while battery maker LG Energy Solution
 373220.KS  declined 0.37%.
    ** State-run electricity producer Korea Electric Power Corp
(KEPCO)  015760.KS  fell 2.13% as the government's delayed,
small electricity price increase fell short of expectations.
    ** Foreigners were net sellers of shares worth 53.7 billion
won ($40.65 million). 
    ** The won ended onshore trade  KRW=KFTC  at 1,337.0 per
dollar, 0.19% lower than its previous close at 1,334.5. 
    ** In offshore trading, the won  KRW=  was quoted at 1,337.1
per dollar, up 0.4% on the day, while in non-deliverable forward
trading its one-month contract  KRW1MNDFOR=  was quoted at
1,334.5.
    ** The KOSPI rose 10.86% so far this year, and gained 1.3%
in the previous 30 trading sessions.
    ** The won lost 5.4% against the dollar so far this year.
    ** In money and debt markets, June futures on three-year
treasury bonds  KTBc1  fell 0.18 points to 104.97.
    ** The most liquid three-year Korean treasury bond yield
rose by 5.2 basis points to 3.276%, while the benchmark 10-year
yield rose by 6.0 basis points to 3.331%.
    
     ($1 = 1,320.9300 won)

 (Reporting by Choonsik Yoo; Editing by Sherry Jacob-Phillips)
 ((choonsik.yoo@thomsonreuters.com))