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KOSPI falls, foreigners net sellers
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Korean won little changed against dollar
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South Korea benchmark bond yield falls
SEOUL, – Round-up of South Korean financial markets:
** South Korean shares fell on Wednesday, the day U.S. President Donald Trump said would be a “Liberation Day” with his administration’s announcement of reciprocal tariffs against all countries.
** The benchmark KOSPI was down 15.28 points, or 0.61%, at 2,506.11 as of 0101 GMT.
** Trump will introduce new reciprocal tariffs at 2000 GMT, according to the White House.
** In South Korea, there will be a court ruling on President Yoon Suk Yeol’s impeachment on Friday.
** On Tuesday, the KOSPI posted its biggest jump in two weeks as the Constitutional Court’s announcement of the ruling date raised hopes of reduced political uncertainty.
** Meanwhile, the head of the country’s financial watchdog said he had offered to resign after the acting president vetoed a revised Commercial Act aimed at resolving the so-called “Korea discount”.
** The “Korea discount” refers to a tendency of lower valuation for South Korean stocks compared with global peers.
** Among index heavyweights, chipmaker Samsung Electronics fell 0.26%, but peer SK Hynix gained 0.30%, while battery maker LG Energy Solution slid 0.46%.
** Hyundai Motor shed 1.11% and sister automaker Kia Corp lost 1.07%, while e-commerce and biopharmaceutical stocks also declined.
** Of the total 930 traded issues, 244 shares advanced, while 635 declined.
** Foreigners were net sellers of shares worth 265.5 billion won .
** The won was quoted at 1,471.7 per dollar on the onshore settlement platform, 0.01% lower than its previous close at 1,471.6.
** The most liquid three-year Korean treasury bond yield rose by 0.4 basis points to 2.584%, while the benchmark 10-year yield fell by 2.7 basis points to 2.776%.
This article was generated from an automated news agency feed without modifications to text.
