South Korean shares little changed as investors look for new cues - Hindustan Times
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South Korean shares little changed as investors look for new cues

Reuters |
May 28, 2024 12:31 PM IST

SOUTHKOREA-MARKETS/CLOSE:South Korean shares little changed as investors look for new cues

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South Korean shares little changed as investors look for new cues
South Korean shares little changed as investors look for new cues

KOSPI falls slightly, foreigners net buyers

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Korean won strengthens against dollar

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South Korea benchmark bond yield falls

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For the midday report, please click

SEOUL, - Round-up of South Korean financial markets:

** South Korean shares ended little changed on Tuesday, as gains in chipmakers were countered by losses in other heavyweights, amid broadly subdued market sentiment with investors waiting for new triggers to make bets.

** The benchmark KOSPI closed down by just 0.14 points, or 0.01%, at 2,722.85.

** The index traded in a narrow range as investors awaited more cues after a U.S. market holiday on Monday. European stock markets firmed on Monday.

** "There was no big move in the market and volatility was low," said Lee Kyoung-min, an analyst at Daishin Securities.

** South Korea's finance minister said authorities would put forward detailed tax incentives under corporate reforms aimed at boosting the value of listed companies after seeking more feedback from market participants in coming months.

** Monday's geopolitical events of a rare trilateral summit with Japan and China and a failed satellite launch by North Korea had little impact on South Korea's financial markets.

** Chipmaker Samsung Electronics rose 0.52% and peer SK Hynix gained 0.50%, but battery makers, automakers and online platform companies fell.

** Of the total 933 traded issues, 406 shares advanced, while 467 declined.

** Foreigners were net buyers of shares worth 45.4 billion won on the main board.

** The won ended onshore trade at 1,358.5 per dollar, 0.39% higher than its previous close at 1,363.8.

** In money and debt markets, June futures on three-year treasury bonds rose 0.07 point to 104.51.

** The most liquid three-year Korean treasury bond yield fell by 2.5 basis points to 3.392%, while the benchmark 10-year yield fell by 1.9 basis points to 3.479%.

This article was generated from an automated news agency feed without modifications to text.

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