South Korean shares track Wall Street lower; chipmaker SK Hynix rises

Reuters

South Korean shares track Wall Street lower; chipmaker SK Hynix rises

Oct 22, 2024 at 1:19 am GMT

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KOSPI falls, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield rises

SEOUL, Oct 22 (Reuters) -Round-up of South Korean financial markets:

** South Korean shares fell more than 1% on Tuesday, tracking Wall Street's overnight losses, while chipmaker SK Hynix was a rare gainer among index heavyweights.

** The won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI .KS11 fell 30.66 points, or 1.16%, to 2,574.60 by 0047 GMT, hitting its lowest level since Oct. 7.

** The South Korean economy likely returned to growth last quarter after a mild contraction in the prior quarter thanks to an export-led expansion that offset higher borrowing costs squeezing domestic demand, according to a Reuters poll.

** On Monday, the Dow Jones Industrial Average and S&P 500 retreated from record high closes on a rise in U.S. Treasury yields, while the Nasdaq ended higher on boost from chipmaker Nvidia of a record-hitting rally. .N

** SK Hynix 000660.KS, which supplies Nvidia NVDA.O with advanced chips, was up 0.31%, after rising as much as 2.3% earlier in the session. Rival Samsung Electronics 005930.KS fell 1.19%.

** Most other index heavyweights fell, including battery makers, automakers and e-commerce firms.

** Samsung Biologics 207940.KS traded down 1.28%, after rising as much as 2.02% to an all-time high on an order worth 1.7 trillion won ($1.23 billion).

** Biopharmaceutical peer Celltrion 068270.KS, which also won an order worth 100 billion won, fell 1.51%.

** Of the total 925 traded issues, 149 shares advanced, while 723 declined.

** Foreigners were net sellers of shares worth 148.2 billion won on the main board on Tuesday.

** The won was quoted at 1,381.7 per dollar on the onshore settlement platform KRW=KFTC, 0.21% lower than its previous close at 1,378.8.

** In money and debt markets, December futures on three-year treasury bonds KTBc1 fell 0.15 point to 105.84.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 4.7 basis points to 2.949%, while the benchmark 10-year yield KR10YT=RR rose by 7.7 basis points to 3.131%.

($1 = 1,382.1200 won)

Reporting by Jihoon Lee; Editing by Subhranshu Sahu

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