S.Korea stocks fall for 6th straight day as Omicron unnerves investors

  • 11/30/2021
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SEOUL, Nov 30 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares extended losses on Tuesday to a sixth straight session, as traders remained cautious about the Omicron variant and as China data weighed on economic recovery momentum. The won strengthened, while the benchmark bond yield fell. ** By 0127 GMT, the KOSPI (.KS11) was down 4.14 points, or 0.14%, at 2,905.18, following a 0.92% decline on Monday. ** Among the heavyweights, technology giant Samsung Electronics (005930.KS) rose 0.97%, while its peer SK Hynix (000660.KS) and battery maker LG Chem (051910.KS) fell 0.43% and 1.54%, respectively. ** The Omicron variant prompted a broad sell-off amid investors" fears it would further disrupt a growing economic recovery, with many countries closing their borders to prevent fresh outbreaks. ** South Korea reported 3,032 new coronavirus cases for Monday, but so far there were no Omicron cases being reported. ** Activity in China"s services sector grew at a slower pace in November, as the sector took a hit from fresh lockdown measures as authorities raced to contain the latest outbreak. ** Meanwhile, South Korea"s data showed factory output in October shrank at its sharpest pace in nearly 1-1/2 years as auto chip shortages continued to weigh on production. read more ** On the main board, foreigners were net sellers of 40.4 billion won ($34.01 million) worth of shares. ** The won was quoted at 1,188.5 per dollar on the onshore settlement platform , 0.38% higher than its previous close. ** In offshore trading, the won was quoted at 1,187.9 per dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,187.5. ** In money and debt markets, December futures on three-year treasury bonds rose 0.04 points to 108.99. ** The 10-year yield rose by 0.6 basis points to 2.271%. ($1 = 1,187.9200 won)

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