South Korean shares climb nearly 2% as Wall Street rally boosts sentiment
SEOUL: Round-up of South Korean financial markets: South Korean shares rose on Tuesday, tracking Wall Street gains after the S&P 500 and Nasdaq 100 posted their biggest advances since early August. The won strengthened 1% against the dollar, while the benchmark bond yield fell. The benchmark KOSPI was up 135.91 points, or 1.94%, at 7,143.63 as of 00:59 GMT. Shares of chipmaker Samsung Electronics…
South Korean stocks rose nearly 2% on Tuesday, mirroring Wall Street's rally as the S&P 500 and Nasdaq 100 recorded their biggest gains since early August. The South Korean won strengthened by 1% against the dollar, and the benchmark bond yield declined. The KOSPI index climbed 135.91 points, or 1.94%, to 7,143.63 as of 00:59 GMT.
Notable gains were seen in chipmaker Samsung Electronics, which rose 2.28%, and SK Hynix, which increased 2.94%. Other notable movers included LG Energy Solution, which added 0.43%, and automakers Hyundai Motor and Kia Corp, which climbed 2.30% and 0.92%, respectively. Among the 906 traded issues, 458 rose while 381 fell. Foreign investors netted 162.8 billion won worth of shares.
The won closed at 1,365.7 per dollar, up 0.71% from its previous close of 1,375.4. The KOSPI has risen 69.51% this year, while the won has strengthened 5.4% against the dollar. In money and debt markets, December futures on three-year treasury bonds rose 0.04 point to 102.26, and the three-year bond yield fell 1.1 basis points to 4.044%, while the 10-year yield declined 0.8 basis points to 4.438%.
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