Published on 07/18/2025 at 03:21
- 24JKOSPI falls, foreigners net buyers
- Korean won weakens against dollar
- South Korea benchmark bond yield falls
(Reuters) - Round-up of South Korean financial markets:
** South Korean shares closed marginally lower on Friday, as financial stocks extended losses on investors taking profits. The benchmark index still managed to post a second straight weekly rise.
** The benchmark KOSPI closed down 4.22 points, or 0.13%, at 3,188.07.
** The KOSPI rose 0.39% this week, after rising 3.98% last week.
** "The KOSPI took a breather after recent sharp gains with resistance around the 3,200 level," said Lee Kyoung-min, an analyst at Daishin Securities.
** "There was profit-taking pressure in the financial sector," Lee said.
** Securities firms fell 1.69% and financial groups dropped 1.02%, retreating after gains in recent weeks driven by optimism over President Lee Jae Myung's market reform agenda.
** Earlier this week, South Korea adopted a revision to its Commercial Act and launched a task force aimed at securing developed market status from global index provider MSCI , in a bid to tackle the undervaluation of local stocks versus global peers.
** Among other index heavyweights, chipmaker Samsung Electronics rose 0.60%, but peer SK Hynix lost 0.19%. Battery maker LG Energy Solution climbed 1.74%.
** Hyundai Motor and sister automaker Kia Corp were up 0.24% and down 0.40%, respectively. Steelmaker POSCO Holdings added 1.14%, while drugmaker Samsung BioLogics fell 1.78%.
** Of the total 934 traded stocks, 305 advanced, while 591 declined.
** Foreigners were net buyers of shares worth 187.7 billion won ($134.78 million).
** The won was quoted at 1,393.0 per dollar on the onshore settlement platform, 0.06% lower than its previous close at 1,392.2.
** In money and debt markets, September futures on three-year treasury bonds gained 0.04 point to 107.14.
** The most liquid three-year Korean treasury bond yield fell by 0.3 basis point to 2.477%, while the benchmark 10-year yield fell by 2.8 basis points to 2.876%. ($1 = 1,392.6400 won)
(Reporting by Jihoon Lee)
Sumber : Reuters