S.Korea stocks fall on growing rate hike bets, record virus cases

  • 11/24/2021
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SEOUL, Nov 24 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Wednesday as growing views of earlier-than-expected tapering by the Federal Reserve lifted U.S. Treasury yields, while a record daily COVID-19 count at home weighed on sentiment. The won was unchanged, while the benchmark bond yield rose. ** The KOSPI (.KS11) slid 11.03 points, or 0.37%, to 2,986.30 by 0248 GMT. ** South Korea reported a new daily record of 4,116 new coronavirus cases for Tuesday, as the country battles to contain a spike in serious cases after switching to its "living with COVID-19" plan. read more ** Chip giant Samsung Electronics (005930.KS) led the declines on the benchmark, falling 1.20%, while its peer SK Hynix (000660.KS) and platform company Naver (035420.KS) also dropped 0.42% and 1.13%, respectively. ** Taylor, Texas has been picked as the location for Samsung"s new $17 billion plant to make advanced chips for functions such as mobile, 5G, high-performance computing and artificial intelligence, the company said. read more ** Foreigners were net buyers of 221.2 billion won ($185.98 million) worth of shares on the main board. ** New Zealand"s central bank lifted interest rates for the second time in as many months on Wednesday, just a day before South Korea"s central bank holds the last policy meeting of the year, where it is widely expected to raise rates. read more ** The won was quoted at 1,189.7 per dollar on the onshore settlement platform , nearly unchanged from its previous close at 1,189.7. ** In offshore trading, the won was quoted at 1,189.4 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,189.8. ** In money and debt markets, December futures on three-year treasury bonds rose 0.01 points to 108.34. ** The benchmark 10-year yield rose by 0.6 basis points to 2.406%. ($1 = 1,189.3900 won)

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