South Korean shares end lower as chipmakers fall, with Samsung earnings in focus
South Korean shares end lower as chipmakers fall, with Samsung earnings in focus SEOUL, Oct 6 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell on Tuesday as chipmakers declined ahead of Samsung Electronics' earnings later this week.
** The benchmark KOSPI .KS11 closed down 62.35 points, or 0.89%, at 6,941.39. Local markets were closed on Monday for a public holiday.
** South Korea's finance minister said economic growth was seen in the 3% range this year as growth momentum was expanding. He also said authorities would make efforts to stabilise the foreign exchange market and consider more cuts in bond issuance depending on market conditions.
** "Samsung Electronics' earnings will be positive because memory chip prices have been rising continuously, but high bond yields weigh on the overall market," said Seo Sang-young, an analyst at Mirae Asset Securities.
** Chipmaker Samsung Electronics 005930.KS fell 1.45%, while peer SK Hynix 000660.KS lost 3.69%.
** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 5.12%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 0.43% and down 0.27%, respectively.
** Steelmaker POSCO Holdings 005490.KS added 2.25%, while drugmaker Samsung BioLogics 207940.KS fell 3.25%.
** Of the total 918 traded issues, 425 shares advanced, while 461 declined.
** Foreigners were net sellers of shares worth 1.8 trillion won ($1.34 billion).
** The won was quoted at 1,343.6 per dollar on the onshore settlement platform KRW=KFTC, 0.09% lower than its previous close at 1,342.4.
** In money and debt markets, December futures on three-year treasury bonds KTBc1 were unchanged at 102.64.
** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 0.5 basis points to 3.935%, while the benchmark 10-year yield KR10YT=RR fell by 1.2 basis points to 4.374%.
($1 = 1,343.9600 won)
(Reporting by Jihoon Lee; Editing by Ronojoy Mazumdar)
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