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S.Korean shares hit six-week high on foreign inflows, battery boost

11/01/2022 | 02:14am EST

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KOSPI jumps, 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, Nov 1 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose on Tuesday to their highest in nearly six weeks, led by battery manufacturers, as strong foreign inflows offset dismal exports data. The Korean won strengthened, while the benchmark bond yield fell.

** The benchmark KOSPI rose 41.61 points, or 1.81%, to end the session at 2,335.22, the highest closing level since Sept. 21.

** South Korea's exports in October fell the most in 26 months while a trade deficit persisted for a seventh month, government data showed on Tuesday, although the market's reaction to the sluggish data was largely muted.

** South Korea's top financial groups agreed with the country's financial regulator to ensure sufficient liquidity is supplied to the local money and bond markets.

** "The stock market's strength was supported by continued foreign buying and upbeat sectors of batteries and nuclear-related stocks, amid rotational trading of heavyweight stocks," said Lee Kyoung-min, analyst at Daishin Securities.

** Among heavyweights, technology giant Samsung Electronics rose 1.01% and peer SK Hynix gained 1.45%.

** Battery maker LG Energy Solution advanced 6.63%, while its parent LG Chem surged 11.02%. Peers Samsung SDI and SK Innovation rose 3.12% and 5.49%, respectively.

** Nuclear-related stocks surged after South Korea signed outline agreements to develop nuclear power in Poland. Doosan Enerbility gained 19.62%, while KEPCO E&C , KEPID and KEPCO PLANT S&E rose 29.91%, 27.97% and 11.76%, respectively.

** Foreigners were net buyers of shares worth 492.9 billion won ($347.79 million) on the main board.

** The won was last quoted at 1,417.2 per dollar on the onshore settlement platform, 0.50% higher than its previous close.

** December futures on three-year treasury bonds rose 0.35 points to 102.46.

** The most liquid three-year Korean treasury bond yield fell 10.5 basis points to 4.084%, while the benchmark 10-year yield fell by 8.4 basis points to 4.171%.

($1 = 1,417.2400 won) (Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DAISHIN SECURITIES CO., LTD. 2.23% 13290 End-of-day quote.3.02%
DOOSAN ENERBILITY CO., LTD. 1.90% 16590 End-of-day quote.7.73%
KEPCO ENGINEERING & CONSTRUCTION COMPANY, INC. 0.62% 64500 End-of-day quote.18.13%
KEPCO PLANT SERVICE & ENGINEERING CO.,LTD. 0.58% 34550 End-of-day quote.4.07%
KOREA ELECTRIC POWER INDUSTRIAL DEVELOPMENT CO., LTD 0.00% 8860 End-of-day quote.4.11%
KOSPI COMPOSITE INDEX 0.63% 2484.18 Real-time Quote.11.08%
LG CHEM, LTD. 0.00% 685000 End-of-day quote.14.17%
LG CORP. 0.60% 83900 End-of-day quote.7.43%
LG ENERGY SOLUTION, LTD. -2.13% 506000 End-of-day quote.16.19%
SAMSUNG ELECTRONICS CO., LTD. 1.10% 64600 End-of-day quote.16.82%
SAMSUNG SDI CO., LTD. 2.23% 687000 End-of-day quote.16.24%
SK HYNIX INC. -0.87% 91500 End-of-day quote.22.00%
SK INNOVATION CO., LTD. 3.10% 169500 End-of-day quote.10.06%
TOP FINANCIAL GROUP LIMITED -0.81% 4.9 Delayed Quote.0.41%
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