S.Korea shares track Wall St gains; foreigners set to snap 9-day selling run

  • 5/25/2021
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* KOSPI rises, foreigners net buyers * Korean won strengthens against U.S. dollar * South Korea benchmark bond yield falls SEOUL, May 25 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares on Tuesday tracked overnight Wall Street gains and foreign investors looked set to end a nine-day selling run, although U.S. inflation concerns weighed. The won gained, while the benchmark bond yield fell. ** The benchmark KOSPI rose 21.26 points, or 0.68%, to 3,165.56 as of 0149 GMT, set to snap a three-day losing streak. ** Among heavyweights, chip giants Samsung Electronics and SK Hynix gained 0.63% and 2.09%, respectively, while battery maker LG Chem added 0.90% and internet giant Naver fell 0.28%. ** Foreign investors bought net 18.1 billion won ($16.12 million) worth of shares on the main board, set to end its selling run that began on May 11. ** Meanwhile, the country"s central bank is seen keeping its interest rates at record lows on Thursday and for the rest of 2021, as COVID-19 uncertainties and worries about financial imbalances offset signs of a broader economic recovery. ** The won was quoted at 1,123.5 per dollar on the onshore settlement platform , 0.32% higher than its previous close at 1,127.1. ** In offshore trading, the won was quoted at 1,122.5 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,121.8. ** In money and debt markets, June futures on three-year treasury bonds fell 0.03 points to 110.99. ** The most liquid 3-year Korean treasury bond yield rose by 1.5 basis points to 1.131%, while the benchmark 10-year yield fell by 0.9 basis points to 2.111%. ($1 = 1,122.4900 won) (Reporting by Joori Roh; Editing by Ramakrishnan M.) Our Standards: The Thomson Reuters Trust Principles.

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