S.Korea stocks track Wall Street gains as Fed calms inflation fears

  • 5/25/2021
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* KOSPI rises, foreigners net buyers * Korean won steady against U.S. dollar * South Korea benchmark bond yield falls SEOUL, May 26 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares rose on Wednesday, tracking Wall Street gains overnight after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance that eased inflation concerns. The won held steady, while the benchmark bond yield fell. ** The benchmark KOSPI rose 10.43 points, or 0.33%, to 3,181.75 as of 0059 GMT. The index gained 0.86% on Monday. ** Among the heavyweights, technology giant Samsung Electronics rose 0.38% and peer SK Hynix rose 0.41%, while LG Chem fell 3.36% and Naver rose 1.40%. ** Foreigners were net buyers of 68.8 billion won ($61.34 million) worth of shares on the main board. ** Investors await the Bank of Korea"s rate decision on Thursday, where it is seen keeping interest rates at record lows 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 1,122.0 per dollar on the onshore settlement platform , unchanged from its previous close. ** In offshore trading, the won was quoted at 1,121.5 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,121.1. ** In money and debt markets, June futures on three-year treasury bonds rose 0.04 points to 110.99, while the 3-month Certificate of Deposit rate was quoted at 0.66%. ** The most liquid 3-year Korean treasury bond yield fell by 0.7 basis points to 1.136%, while the benchmark 10-year yield fell by 1.8 basis points to 2.111%. ($1 = 1,121.6300 won) (Reporting by Joori Roh; Editing by Ramakrishnan M.) Our Standards: The Thomson Reuters Trust Principles.

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