S.Korean stocks hit 1-month high on upbeat U.S. manufacturing data

  • 6/2/2021
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* KOSPI rises, foreigners net buyers * Korean won weakens against U.S. dollar * South Korea benchmark bond yield rises SEOUL, June 2 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares rose to their highest in nearly a month on Wednesday, tracking overnight gains on Wall Street from upbeat U.S. manufacturing data. The Korean won weakened, while the benchmark bond yield rose. ** The KOSPI rose 11.42 points, or 0.35%, to 3,233.29 by 0146 GMT. It rose as much as 0.60% in early trade, touching the highest intraday level since May 10. ** Chip giant Samsung Electronics rose 0.62%, but other heavyweights slid. SK Hynix and battery maker LG Chem fell 0.78% and 0.97%, respectively. ** Foreigners were net buyers of 105.9 billion won ($95.58 million) worth of shares on the main board. ** U.S. manufacturing activity picked up in May, as pent-up demand amid a reopening economy boosted orders. ** At home, the consumer inflation accelerated to a more than nine-year high in May, reinforcing calls for gradual monetary tightening, though the increase was mainly due to a low base effect and rises in oil and agricultural prices. ** The won was quoted at 1,108.3 per dollar on the onshore settlement platform , down 0.22%. ** In offshore trading, the won was quoted at 1,107.9 per dollar, up 0.0% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,107.4. ** In money and debt markets, June futures on three-year treasury bonds was unchanged at 110.77. ** The most liquid 3-year Korean treasury bond yield rose by 0.1 basis point to 1.214%, while the benchmark 10-year yield rose by 1.4 basis points to 2.199%. ($1 = 1,108.0200 won) (Reporting by Joori Roh; editing by Uttaresh.V) Our Standards: The Thomson Reuters Trust Principles.

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