Views Article – Sharenet Wealth

Asia, Forex

S.Korea stocks track Wall Street higher

* KOSPI rises, foreigners net sellers * Korean won strengthens against U.S. dollar * South Korea benchmark bond yield falls SEOUL, Oct 14(Reuters) – Round-up of South Korean financial markets: ** South Korean shares rose for a second straight session on Thursday, tracking gains in the tech-heavy Nasdaq 100 and on hopes that improving corporate earnings could underpin the global economic recovery. The Korean won strengthened, while the benchmark bond yield fell. ** The benchmark KOSPI rose 36.42 points, or 1.24%, to 2,980.83, as of 0113 GMT. ** Among heavyweights, technology giant Samsung Electronics rose 1.16% and peer SK Hynix climbed 2.17%, while LG Chem gained 3.22% and Naver advanced 3.14%. ** The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in big growth names like Amazon.com and Microsoft, but JPMorgan fell along with other banks and weighed on the market. ** Foreigners were net sellers of 109.5 billion won worth of shares on the main board. ** The won was quoted at 1,189.2 per dollar on the onshore settlement platform , 0.39% higher than its previous close at 1,193.8. ** South Korea’s finance minister said the government is ready to deploy measures to stabilise currency markets if needed, as recent declines in the won seem fast. ** In offshore trading, the won was quoted at 1,188.4 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,188.8. ** The KOSPI has risen 3.74% so far this year, but lost 6.4% in the previous 30 trading sessions. ** The trading volume during the session in the KOSPI index was 240.72 million shares. Of the total traded issues of 926, the number of advancing shares was 731. ** The won has lost 8.7% against the dollar so far this year. ** In money and debt markets, December futures on three-year treasury bonds rose 0.06 point to 108.76. (Reporting by Cynthia Kim; Editing by Subhranshu Sahu)


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