South Korean shares start week higher as chipmakers rise
South Korean shares start week higher as chipmakers rise SEOUL, Aug 10 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose on Monday, led by chipmaker heavyweights, after Wall Street's record-setting rally eased worries about interest rate hikes.
** The benchmark KOSPI .KS11 was up 49.97 points, or 0.80%, at 6,308.74 as of 0158 GMT, after seven consecutive weeks of declines.
** U.S. stocks advanced on Friday, with the S&P closing at a record high to cap off a strong week of gains for the major indexes, after data showed the U.S. economy unexpectedly shed jobs last month and dampened expectations the Federal Reserve would raise interest rates at its September meeting. .N
** "This week, there will be earnings releases by semiconductor and AI-related firms abroad, which are expected to ease worries about a peak-out in AI and memory chip demand," said Han Ji-young, an analyst at Kiwoom Securities.
** "It will be a factor improving foreign flows after a heavy sell-off in chipmaker stocks last week," Han said.
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 0.43%, while peer SK Hynix 000660.KS gained 1.62%. Battery maker LG Energy Solution 373220.KS was flat.
** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 1.77% and down 0.59%, respectively. Steelmaker POSCO Holdings 005490.KS was flat, while drugmaker Samsung BioLogics 207940.KS rose 0.03%.
** Of the 910 issues traded, 630 shares advanced, while 248 declined.
** Foreigners were net sellers of shares worth 526.4 billion won ($371.75 million).
** The won was quoted at 1,414.7 per dollar on the onshore settlement platform KRW=KFTC, 0.37% lower than its previous close at 1,409.5.
** In money and debt markets, September futures on three-year treasury bonds KTBc1 lost 0.04 point to 103.35.
** The most liquid three-year Korean treasury bond yield KR3YT=RR was flat at 3.751%, while the benchmark 10-year yield KR10YT=RR was flat at 4.198%.
($1 = 1,416.0000 won)
(Reporting by Jihoon Lee; Editing by Rashmi Aich)
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