S.Korea stocks dip on tech slump; U.S. inflation data in focus

  • 6/9/2021
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* KOSPI falls, foreigners net sellers * Korean won weakens against U.S. dollar * South Korea benchmark bond yield falls SEOUL, June 9 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Wednesday, led by tech heavyweights, as investors refrained from placing big bets ahead of U.S. inflation data and European Central Bank policy meeting this week. The won and the benchmark bond yield weakened. ** The benchmark KOSPI was down 8.11 points, or 0.25%, at 3,239.72, as of 0149 GMT. ** Among the heavyweights, chip giants Samsung Electronics and SK Hynix fell 0.24% and 2.35%, respectively, while battery maker LG Chem and internet giant Naver slid 0.25% and 0.41%, respectively. ** Foreigners were net sellers of 132.7 billion won ($118.97 million) worth of shares on the main board. ** Market participants look to Thursday"s U.S. consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve"s timetable for tightening its monetary policy. ** South Korea"s unemployment rate edged up in May after falling to an eight-month low in the prior month, but the number of people employed continued to rise at a sharp pace, underpinning hopes for a gradual recovery in the labour market. ** A separate central bank data showed the economy expanded by a seasonally adjusted 1.7% in the first quarter, revised up from a 1.6% growth estimated in late April. ** The won was quoted at 1,116.3 per dollar on the onshore settlement platform , 0.19% lower than its previous close at 1,114.2. ** In offshore trading, the won was quoted at 1,115.3 per dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,114.4. ** In money and debt markets, June futures on three-year treasury bonds rose 0.05 points to 110.95. ** The most liquid 3-year Korean treasury bond yield fell by 2.3 basis points to 1.151%, while the benchmark 10-year yield fell by 1.1 basis points to 2.105%. ($1 = 1,115.4500 won) (Reporting by Joori Roh, Editing by Sherry Jacob-Phillips) Our Standards: The Thomson Reuters Trust Principles.

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