S.Korea stocks begin 2022 higher on solid exports data

  • 1/3/2022
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KOSPI rises, foreigners net buyers Korean won weakens against U.S. dollar South Korea benchmark bond yield rises SEOUL, Jan 3 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares started 2022 trading on a strong note on Monday, buoyed by solid exports data. The won weakened, while the benchmark bond yield rose. ** As of 0225 GMT, the benchmark KOSPI (.KS11) was up 7.43 points, or 0.25%, at 2,985.08 after rising as much as 1.1% in early trading. ** Among heavyweights, technology giant Samsung Electronics (005930.KS) rose 0.89% and peer SK Hynix (000660.KS) fell 0.38%. LG Chem (051910.KS) rose 0.81% while Naver (035420.KS) fell 0.53%. ** South Korea"s exports in the final month of last year expanded 18.3% year-on-year, extending growth into a 14th month. But the rate was slower compared to a month earlier and Reuters" forecast. read more ** For 2021 as whole, the country"s exports expanded at their fastest pace in 11 years with the total value reaching a record high. ** "Stocks rose on December"s solid exports data but investors seem not so much aggressive with the U.S. Federal Reserve minutes due this week," said Park Kwang-nam, an analyst at Mirae Asset Securities. ** Foreigners were net buyers of 207.3 billion won ($173.93 million) worth of shares on the main board. ** The won was quoted at 1,190.3 per dollar on the onshore settlement platform , 0.13% lower than its previous close at 1,188.8. ** In offshore trading, the won was quoted at 1,190.8 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,191.3. ** In money and debt markets, March futures on three-year treasury bonds fell 0.12 point to 108.99. ** The most liquid 3-year Korean treasury bond yield rose by 3.1 basis points to 1.826%, while the benchmark 10-year yield rose by 2.9 basis points to 2.284%. ($1 = 1,191.8600 won)

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