S.Korean shares fall as investors brace for hawkish Fed moves

  • 1/10/2022
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South Korea benchmark bond yield rises SEOUL, Jan 10 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Monday as investors braced for a faster-than-anticipated U.S. interest rate hike, a projection that roiled bond markets. The Korean won strengthened, while the benchmark bond yield rose. ** The benchmark KOSPI (.KS11) fell 32.35 points, or 1.09%, to 2,922.54 as of 0257 GMT. ** Uncertainties around tightening of U.S. monetary policies are hurting sentiment in stock markets around the globe, said Kim Se-hun, an analyst at Kiwoom Securities. ** Among heavyweights, technology giant Samsung Electronics (005930.KS) fell 0.51% and peer SK Hynix (000660.KS) slid 2.76%, while LG Chem (051910.KS) declined 2.09% and Naver (035420.KS) slipped 1.63%. ** A "very tight" job market and unabated inflation might require the Federal Reserve to raise interest rates sooner than expected and begin reducing its overall asset holdings as a second brake on the economy, U.S. central bank policymakers said in their meeting last month. read more ** Foreigners were net sellers of 83.7 billion won ($69.72 million) worth of shares on the main board. ** The won was quoted at 1,200.9 per dollar on the onshore settlement platform , up 0.05%. ** In offshore trading, the won was quoted at 1,200.6 per dollar, down 0.2%, while in non-deliverable forward trading, its one-month contract was quoted at 1,200.8. ** The KOSPI has fallen 1.85% so far this year, but lost 0.9% in the previous 30 trading sessions. ** The trading volume was 273.80 million shares. Of the total traded issues of 931, the number of advancing shares was 244. ** The won has lost 1.0% against the dollar so far this year. ** In money and debt markets, March futures on three-year treasury bonds fell 0.03 point to 108.17. ** The most liquid 3-year Korean treasury bond yield rose by 5.9 basis points to 2.073%, while the benchmark 10-year yield rose by 2.9 basis points to 2.487%. ($1 = 1,200.5600 won)

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