S.Korean stocks end lower for 5th day; LGES IPO in focus

LG

19/01/2022 07:11

* KOSPI falls, foreigners net sellers
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yield falls
    * For the midday report, please click  urn:newsml:reuters.com:*:nL1N2TZ053

    SEOUL, Jan 19 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares closed lower for a fifth straight
session on Wednesday, and touched their lowest in seven weeks,
as rising U.S. yields sapped risk appetite amid volatility ahead
of LG Energy Solution's $10.8 billion initial public offering.
    
    ** Both the Korean won and the benchmark bond yield fell.
    
    ** The benchmark KOSPI  .KS11  closed down 21.96 points, or
0.77%, at 2,842.28, marking its the longest losing streak since
late-November. It has fallen 4.55% so far this year.
    
    ** Among heavyweights, Samsung Electronics  005930.KS  fell
0.91%, while LG Chem  051910.KS  and Naver  035420.KS  dropped
5.91% and 1.63%, respectively.
    
    ** Battery maker LG Energy Solution's public subscription
for retail investors ends later on Wednesday, with investors
placing bids worth more than 32 trillion won ($26.86 billion)
solely on Tuesday, after institutional investors placed bids
that were valued at record $12.8 trillion.  urn:newsml:reuters.com:*:nL1N2TU0BU

    ** Benchmark U.S. Treasury yields jumped to two-year highs,
with two-year Treasury yields  US2YT=RR  rising above 1% for the
first time since February 2020, as traders priced in a more
hawkish Fed before the U.S. central bank's policy meeting next
week.  US/ 
    
    ** Outage on a oil pipeline from Iraq to Turkey increased
concerns about an already tight supply outlook, which also
weighed on the risk appetite.
    
    ** Foreigners were net buyers of 27.6 billion won ($23.17
million) worth of shares on the main board.
    
    ** The won ended at 1,191.7 per dollar on the onshore
settlement platform  KRW=KFTC , down 0.13%.
    
    ** In offshore trading, the won  KRW=  was quoted at 1,191.3
per dollar, while in non-deliverable forward trading, its
one-month contract  KRW1MNDFOR=  was quoted at 1,191.9.
    
    ** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  rose 0.12 point to 108.25.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
5.4 basis points to 2.073%.

($1 = 1,191.2100 won)

 (Reporting by Joori Roh; editing by Uttaresh.V)
 ((joori.roh@thomsonreuters.com; +82 2 6936 1493;))