S.Korean shares climb on foreign buying as won hits 18-month peak

Credit: REUTERS/Thomas White

Round-up of South Korean financial markets: ** South Korean shares reversed course on Tuesday to end higher for a second straight session, buoyed by strong buying interest from foreign investors as they increased their exposure to a strengthening won. The currency scaled a near 18-month high, while the benchmark bond yield rose. ** By 0632 GMT, the benchmark KOSPI rose 11.67 points, or 0.50%, to 2,358.41. ** Foreigners were net buyers of 41.6 billion won worth of shares on the main board. ** The won was quoted at 1,139.4 per dollar on the onshore settlement platform, 0.23% higher than its previous close at 1,142.0, and its strongest level since April 2019. ** The Kospi reversed from early losses as foreign investors increased buying with the won's gains on hopes that the currency would gain further, said Na Jeong-hwan, an analyst at DS Investment & Securities.

KOSPI rises, foreigners net buyers

Korean won strengthens against U.S. dollar

South Korea benchmark bond yield rises

SEOUL, Oct 20 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares reversed course on Tuesday to end higher for a second straight session, buoyed by strong buying interest from foreign investors as they increased their exposure to a strengthening won. The currency scaled a near 18-month high, while the benchmark bond yield rose.

** By 0632 GMT, the benchmark KOSPI .KS11 rose 11.67 points, or 0.50%, to 2,358.41.

** Foreigners were net buyers of 41.6 billion won worth of shares on the main board.

** The won was quoted at 1,139.4 per dollar on the onshore settlement platform KRW=KFTC, 0.23% higher than its previous close at 1,142.0, and its strongest level since April 2019.

** The Kospi reversed from early losses as foreign investors increased buying with the won's gains on hopes that the currency would gain further, said Na Jeong-hwan, an analyst at DS Investment & Securities.

** Hyundai Motor 005380.KS closed down 0.3% after the company said on Monday their third-quarter earnings would reflect quality-related costs of a combined 3.36 trillion won ($2.94 billion).

** In offshore trading, the won KRW= was quoted at 1,138.8 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,138.9.

** MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.36%,.

** The KOSPI has risen 7.31% so far this year, but lost 0.1% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index .KS11 was 862.45 million shares. Of the total traded issues of 905, the number of advancing shares was 320.

** The won has gained 1.5% against the dollar so far this year.

** The most liquid 3-year Korean treasury bond yield rose by 0.9 basis points to 0.901%, while the benchmark 10-year yield rose by 0.4 basis points to 1.445%.

(Reporting by Cynthia Kim, Jihoon Lee)

((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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