S.Korea stocks inch higher ahead of exports data, U.S. jobs report

  • 5/31/2021
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* KOSPI rises, foreigners net sellers * Korean won strengthens against U.S. dollar * South Korea benchmark bond yield rises * SEOUL, May 31 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares edged up on Monday in lukewarm trade, as investors awaited May exports data on Tuesday and a key U.S. jobs report later this week to gauge the strength of the global economy. The won strengthened, while the benchmark bond yield rose. ** The benchmark KOSPI rose 0.43 points, or 0.01%, to 3,189.16 as of 01:59 GMT. ** Among the heavyweights, technology giant Samsung Electronics fell 0.37% and peer SK Hynix was flat, while LG Chem fell 1.44% and Naver rose 1.26%. ** South Korea"s May exports are expected to have risen at their quickest pace in over three decades, thanks in part to strong global demand for the nation"s key foreign exchange earners such as semiconductors, cars and petroleum products. ** Investors are waiting to confirm key economic data this week which is why KOSPI is steady, said Han Ji-young, an analyst at Kiwoom Securities. ** Foreigners were net sellers of 34.9 billion won ($31.32 million) worth of shares on the main board. ** The won was quoted at 1,115.3 per dollar on the onshore settlement platform , 0.02% higher than its previous close at 1,115.5. ** In offshore trading, the won was quoted at 1,114.7 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,114.0. ** The KOSPI has risen 10.99% so far this year, and gained 0.2% in the previous 30 trading sessions. ** The trading volume on KOSPI was 552.76 million shares. Of the 912 total traded issues, 433 shares gained. ** The won has lost 2.6% against the dollar so far this year. ** The most liquid 3-year Korean treasury bond yield rose by 6.0 basis points to 1.222%, while the benchmark 10-year yield rose by 3.3 basis points to 2.165%. ($1 = 1,114.4000 won) (Reporting by Cynthia Kim; Additional reporting by Jihoon Lee; Editing by Rashmi Aich) Our Standards: The Thomson Reuters Trust Principles.

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