S.Korea shares rise boosted by Samsung Electronics; post best week in a month
* KOSPI rises, foreigners net buyers
* Korean won weakens against U.S. dollar
* South Korea benchmark bond yield rises
* For the midday report, please click
SEOUL, Feb 5 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares rebounded on Friday after Wall Street’s record-setting rally overnight, posting their best weekly gain in a month, boosted by gains in chip giant Samsung Electronics.
** The won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI closed up 33.08 points, or 1.07%, at 3,120.63, rebounding from a loss of 1.35% in the previous session.
** The index jumped 4.85% for the week, recovering from a 5.24% decline in the previous week.
** Samsung gained as much as 1.82% in early trade after documents filed with Texas state officials showed that the company is considering Austin as one of the sites for a new $17 billion plant.
** Its peer SK Hynix jumped 2%. Other major heavyweights LG Chem and Samsung SDI gained 2.8% and 3.8%, respectively.
** The S&P 500 and Nasdaq posted record closing highs after another batch of upbeat earnings from U.S. companies such as eBay and PayPal, and data suggesting the labour market may be stabilising.
** Democrats pushed ahead with U.S. President Joe Biden’s proposed $1.9 trillion stimulus plan without bipartisan support, further lifting to the sentiment.
** Foreigners were net buyers of 184.6 billion won ($164.30 million) worth of shares on the main board.
** The won ended at 1,123.7 per dollar on the onshore settlement platform, down 0.46% from its previous close.
** It declined 0.44% on a weekly basis and for a fifth straight week, the longest streak since late July 2018.
** In offshore trading, the won was quoted at 1,123.6, while in non-deliverable forward trading its one-month contract was quoted at 1,123.5.
** The most liquid 3-year Korean treasury bond yield rose by 0.1 basis points to 0.985%. ($1 = 1,123.5300 won)
Source: Read Full Article