S.Korea shares jump on Samsung boost, economic recovery hopes – marketscreener.com


* KOSPI rises nearly 1%, foreigners net buyers

* Korean won strengthens against U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Nov 26 (Reuters) – Round-up of South Korean financial
markets:

** South Korean shares climbed nearly 1% on Thursday as
gains in Samsung Electronics and economic recovery hopes
outweighed coronavirus worries. Both the won and the benchmark
bond yield rose.

** The KOSPI index rose 24.37 points, or 0.94%, to
2,625.91, after declining 0.6% in the previous session.

** Shares in chip giants Samsung Electronics and
SK Hynix were up 2.1% and 2.3%, respectively, while
those of LG Chem gained 3.6%.

** South Korea’s central bank kept its policy rate steady as
it marginally raised its growth outlook for this year and next,
despite concerns over surging infections.

** The country reported 583 new coronavirus cases on
Thursday, the highest since March, as it grapples with a third
wave of infections that appears to be worsening despite tough
new social distancing measures.

** “Investors’ interest in South Korea’s market will likely
continue for some time on weak dollar and economic recovery
hopes,” said Shinyoung Securities analyst Park Soo-min.

** Foreigners were net buyers of 253.8 billion won ($229.92
million) worth of KOSPI shares, after snapping a 14-session
buying spree on Wednesday.

** The won ended at 1,104.6 per dollar on the onshore
settlement platform, 0.39% higher than its previous
close at 1,108.9.

** In offshore trading, the won was quoted at 1,103.9
per dollar, up 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
was quoted at 1,104.4.

** In money and debt markets, December futures on three-year
treasury bonds fell 0.04 point to 111.61.

** The most liquid 3-year Korean treasury bond yield rose by
0.9 basis point to 0.979%, while the benchmark 10-year yield
rose by 2.0 basis points to 1.647%.
($1 = 1,103.8700 won)
(Reporting by Joori Roh; Additional reporting by Jihoon Lee;
Editing by Subhranshu Sahu)



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