South Korean shares extend losses as chip, battery makers weigh

Credit: REUTERS/Jo Yong hak

KOSPI falls, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield rises

SEOUL, Jan 10 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares dropped for a sixth straight session on Wednesday, hitting their lowest in a month, as lukewarm performances in chipmakers and battery heavyweights weighed on the index. The won weakened and the benchmark bond yield rose.

** The benchmark KOSPI .KS11 was down 13.21 points, or 0.52%, at 2,548.03 by 0112 GMT, hitting its lowest level since Dec. 14.

** Wider market focus is on the Bank of Korea's monetary policy meeting and the U.S. inflation data due later this week.

** South Korea's jobless rate rose to a nearly two-year high in December, official data showed.

** Samsung Electronics 005930.KS extended its drop to lose 0.80% after the chipmaker flagged weak profit in the previous session. Peer SK Hynix 000660.KS lost 2.40%.

** South Korean battery makers weakened, tracking an overnight drop in U.S. electric vehicle giant Tesla TSLA.O. Shares of LG Energy Solution 373220.KS slid 2.16%, Samsung SDI 006400.KS fell 3.47%, and SK Innovation 096770.KS shed 1.90%.

** Among other index heavyweights, automakers and online platform companies rose, while biopharmaceutical manufacturers were struggling for direction.

** Of the total 937 traded issues, 314 shares advanced, while 544 declined.

** Foreigners were net sellers of shares worth 94.4 billion won ($71.46 million) on the main board.

** The won was quoted at 1,320.4 per dollar on the onshore settlement platform KRW=KFTC, 0.36% lower than its previous close at 1,315.7.

** In money and debt markets, March futures on three-year treasury bonds KTBc1 fell 0.06 point to 104.93.

** The most liquid three-year Korean treasury bond yield rose 1.3 basis points to 3.269%, while the benchmark 10-year yield climbed 1.6 basis points to 3.340%.

($1 = 1,320.9800 won)

(Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)


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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