South Korean shares rise sharply on Mideast peace hopes, end week lower

Samsung Electronics Co

Today 07:42

KOSPI rises, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N42K015

    SEOUL, June 12 (Reuters) - Round-up of South Korean financial markets:
     
** South Korean shares closed more than 4% higher on Friday, as hopes for Middle East peace rose after U.S. President Donald Trump said a deal with Iran could be reached as early as this weekend.
** The benchmark KOSPI <.KS11 closed up 359.67 points, or 4.63%, at 8,123.62, after rising as much as 8.6% during the session, triggering a "sidecar" trading curb. 
** For the week, the KOSPI ended down 0.45%, after falling 3.72% last week. 
** Trading was volatile this week, with sharp gains and losses in the benchmark stock index triggering "sidecar" trading curbs in four sessions, including on Friday, and activating circuit breakers earlier this week for the third time this year and the ninth in history. 
** Trump on Thursday said the United States and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz to shipping. However, Iran said it had not reached a final decision on an agreement.   
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 7.86%, while peer SK Hynix 000660.KS gained 2.33%. Battery maker LG Energy Solution 373220.KS climbed 4.03%.
** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 1.68% and up 6.92%, respectively. Steelmaker POSCO Holdings 005490.KS added 5.31%, while drugmaker Samsung BioLogics 207940.KS rose 0.70%.
** Of the 918 issues traded, 756 shares advanced, while 144 declined.
** Foreigners were net buyers of shares worth 2.1 trillion won ($1.38 billion). 
** The won was quoted at 1,519.8 per dollar on the onshore settlement platform KRW=KFTC, 0.78% higher than its previous close at 1,531.6.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 7.1 basis points to 3.835%, while the benchmark 10-year yield KR10YT=RR fell by 8.2 basis points to 4.208%.
     
($1 = 1,519.2000 won)

(Reporting by Jihoon Lee; Editing by Rashmi Aich)
((jihoon.lee@thomsonreuters.com;))