South Korean shares rebound more than 8% as chipmakers jump

Samsung Electronics Co

Tue 07:51

KOSPI rises, foreigners net sellers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N42H00I

    SEOUL, June 9 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rebounded sharply on Tuesday, recovering after the previous session's steep losses, as investors snapped up beaten-down technology stocks following the market's sharpest one-day decline in three months.
** The benchmark KOSPI .KS11 closed up 612.52 points, or 8.18%, at 8,096.93, marking its biggest one-day percentage gain since May 21. In the previous session, the index slipped 8.3% to its biggest decline since early March.
** In early hours on Tuesday, the index triggered a "sidecar" trading curb designed to temper excessive market volatility, but extended gains in afternoon trade.
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 8.97% and peer SK Hynix 000660.KS gained 15.91%, mirroring gains on Wall Street where chipmakers surged overnight on bargain-hunting demand to send the Philadelphia SE Semiconductor Index .SOX 5.6% higher. .N
** "Chipmaker stocks were supported by dip-buying after a short-term drop," said Lee Kyoung-min, an analyst at Daishin Securities. 
** Risk sentiment also improved after stronger-than-expected first-quarter economic growth data highlighted the resilience of South Korea's export-driven economy despite ongoing global trade and growth concerns.     
** Battery maker LG Energy Solution 373220.KS climbed 2.06%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were unchanged and up 8.52%, respectively.
** Steelmaker POSCO Holdings 005490.KS added 1.53%, while drugmaker Samsung BioLogics 207940.KS rose 4.26%.
** Of the total 922 traded issues, 774 shares advanced, while 133 declined.
** Foreigners were net sellers of shares worth 2 trillion won ($1.32 billion). 
** The won was quoted at 1,512.1 per dollar on the onshore settlement platform KRW=KFTC, 0.95% higher than its previous close at 1,526.5.
** South Korea will respond sternly to speculative trading and market-disturbing behaviour in the onshore currency market, a senior finance official said.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 8.4 basis points to 3.850%, while the benchmark 10-year yield KR10YT=RR fell by 9.1 basis points to 4.260%.

($1 = 1,512.4000 won)

 (Reporting by Jihoon Lee; Editing by Mrigank Dhaniwala)
 ((jihoon.lee@thomsonreuters.com;))