South Korean shares climb nearly 2% as Wall Street rally boosts sentiment
South Korean shares climb nearly 2% as Wall Street rally boosts sentiment SEOUL, Sept 22 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose on Tuesday, tracking Wall Street gains after the S&P 500 and Nasdaq 100 posted their biggest advances since early August. The won strengthened 1% against the dollar, while the benchmark bond yield fell.
** The benchmark KOSPI .KS11 was up 135.91 points, or 1.94%, at 7,143.63 as of 00:59 GMT.
** Shares of chipmaker Samsung Electronics 005930.KS rose 2.28%, while peer SK Hynix 000660.KS gained 2.94%.
** The Nasdaq hit a record close on Monday, lifted by Advanced Micro Devices and other AI heavyweights, while lower oil prices and long-dated Treasury yields also boosted risk sentiment.
** The South Korean government is due to brief lawmakers on Tuesday on plans for a $350 billion US investment package, a key step as Seoul and Washington seek to finalise implementation of a trade deal that cut US tariffs on South Korean goods to 15%.
** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 0.43%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 2.30% and 0.92%, respectively.
** Shares of steelmaker POSCO Holdings 005490.KS added 0.63%, while drugmaker Samsung BioLogics 207940.KS edged 0.07% higher. ** Of the total 906 traded issues, 458 shares advanced, while 381 declined. ** Foreigners were net buyers of shares worth 162.8 billion won. ** The won was quoted at 1,365.7 per dollar on the onshore settlement platform KRW=KFTC, 0.71% higher than its previous close at 1,375.4. ** The KOSPI has risen 69.51% so far this year. ** The won has strengthened 5.4% against the dollar so far this year. ** In money and debt markets, December futures on three-year treasury bonds KTBc1 gained 0.04 point to 102.26. ** The most liquid three-year Korean treasury bond yield KR3YT=RR fell 1.1 basis points to 4.044%, while the benchmark 10-year yield KR10YT=RR fell 0.8 basis points to 4.438%.
(Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips)
((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))
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