S.Korea stocks decline after five-day rally; set for best week in four

  • 6/4/2021
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* KOSPI falls, foreigners net sellers * Korean won weakens against U.S. dollar * South Korea benchmark bond yield rises SEOUL, June 4 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Friday following a five-day rally and as upbeat U.S. jobs data fanned inflation fears, but were set for their best weekly gain in four. The won weakened, while the benchmark bond yield rose. ** The KOSPI gained 24.23 points, or 0.75%, to 3,223.20 as of 0131 GMT after it ended notches below a record close on Thursday. ** The benchmark index is set to gain more than 1% for the week, the sharpest since the five days to May 7. ** Wall Street ended lower on Thursday, as a better-than-expected U.S. unemployment report and private payrolls numbers for May fanned fears of inflation and worries that the Federal Reserve may tighten monetary policy. ** Among heavyweights, technology giant Samsung Electronics slipped 1.09% and peer SK Hynix fell 1.16%, while LG Chem shed 0.99% and Naver lost 1.80%. ** Foreigners were net sellers of 52.9 billion won ($47.34 million) worth of shares on the main board. ** Investors now await U.S. CPI data for May due next week, said Seo Sang-young, an analyst at Mirae Asset Securities. ** South Korea"s finance minister said the government is considering drafting the second supplementary budget of this year. ** The won was quoted at 1,117.6 per dollar on the onshore settlement platform , 0.36% lower than its previous close at 1,113.6. ** In offshore trading, the won was quoted at 1,117.4 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,117.0. ** In money and debt markets, June futures on three-year treasury bonds fell 0.03 points to 110.79. ** The most liquid 3-year Korean treasury bond yield rose by 1.2 basis points to 1.203%. ($1 = 1,117.5600 won) (Reporting by Joori Roh; Additional reporting by Jihoon Lee; Editing by Ramakrishnan M.) Our Standards: The Thomson Reuters Trust Principles.

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