S.Korea Shares Post Biggest Jump in 2 wks, Inflation Worries


SEOUL, March 11 Reuters Roundup of South Korean financial markets

South Korean shares snapped a fivesession losing streak posted on Thursday, posting their biggest singleday jump in two weeks, as subdued U.S. consumer price data calmed inflation worries. The won strengthened, while the benchmark bond yield fell.

The KOSPI closed up 55.58 points, or 1.88, to 3,013.70, posting its sharpest intraday percentage gain since Feb. 25. It gained as much as 2.37 in early trade.

Investors took a relief from the U.S. consumer prices data that inflationary pressure will be weaker than expected, which pulled down the bond yields but boosting Asian shares, said Seo Junghun, an analyst at Samsung Securities.

U.S. consumer prices increased solidly in February, with households paying more for gasoline, but underlying inflation remained tepid.

Further boosting the sentiment was South Koreas preliminary exports data, which jumped 25.2 from a year earlier during Mar. 110 period.

Among the heavyweights, technology giant Samsung Electronics rose 1.36 and peer SK Hynix jumped 3.01, while battery makers LG Chem and Samsung SDI added 5.39 and 8.02, respectively.

Foreigners were net buyers of 1,703.0 billion won 1.50 billion worth of shares on the main board.

The won ended at 1,135.9 per dollar on the onshore settlement platform, 0.60 higher than its previous close at 1,142.7.

In offshore trading, the won was quoted at 1,135.5 per dollar, up 0.0 from the previous day, while in…

JGB yields fall as 20year note auction sees solid demand

Previous article

European Shares Hit Fresh 1Year Peak ahead of ECB Decision

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News