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S.Korean stocks end at 3-week high on tech boost, Wall Street gains

03/23/2022 | 02:18am EDT

* KOSPI rises, foreigners net buyers

* Korean won strengthens against U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, March 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares ended at a near three-week high on Wednesday after technology stocks gained tracking Wall Street overnight, as investors continued to assess developments in the Russia-Ukraine conflict.

** The Korean won strengthened, while the benchmark bond yield rose.

** The benchmark KOSPI ended up 25.05 points, or 0.92%, at 2,735.05, its highest close since March 3.

** Leading the gains, chip giant Samsung Electronics rose 0.28%. Battery maker LG Energy Solution and web portal operator Naver added 2.39% and 1.77%, respectively.

** The rally comes after the U.S. tech-heavy Nasdaq index jumped 2% on gains in big growth names such as Apple Inc , Microsoft Corp and Amazon.com Inc.

** Talks between Ukraine and Russia are confrontational but moving forward, President Volodymyr Zelenskiy said on Wednesday, as the West plans to announce more sanctions against the Kremlin amid a worsening humanitarian crisis.

** At home, the presidential office on Wednesday nominated veteran International Monetary Fund official Rhee Chang-yong as its new central bank chief, a pick who is widely expected to continue the bank's efforts to curb inflation with aggressive interest rate hikes.

** Meanwhile, the country's total coronavirus infections topped 10 million, or nearly 20% of its population, authorities said on Wednesday.

** Foreigners were net buyers of 60.4 billion won ($49.75 million) worth of shares on the main board.

** The won ended at 1,213.8 per dollar on the onshore settlement platform, 0.35% higher than its previous close at 1,218.1.

** In offshore trading, the won was quoted at 1,213.5, while in non-deliverable forward trading its one-month contract was quoted at 1,214.1.

** In money and debt markets, June futures on three-year treasury bonds fell 0.08 point to 106.92.

** The most liquid 3-year Korean treasury bond yield rose by 2.6 basis points to 2.425%. ($1 = 1,214.1200 won)

(Reporting by Joori Roh; Editing by Amy Caren Daniel)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -1.44% 140.64 Delayed Quote.-15.64%
APPLE INC. -0.44% 168.49 Delayed Quote.-5.11%
KOSPI COMPOSITE INDEX 0.49% 2528.66 Real-time Quote.-15.46%
LG CHEM, LTD. 1.54% 658000 End-of-day quote.6.99%
LG ENERGY SOLUTION, LTD. 3.06% 472000 End-of-day quote.0.00%
MICROSOFT CORPORATION -0.74% 287.02 Delayed Quote.-14.66%
NASDAQ COMPOSITE -0.58% 12779.91 Real-time Quote.-17.83%
NAVER CORPORATION 2.10% 267500 End-of-day quote.-29.33%
S&P 500 -0.07% 4207.27 Real-time Quote.-11.66%
SAMSUNG ELECTRONICS CO., LTD. 1.35% 59900 End-of-day quote.-23.50%
SK HYNIX INC. 1.63% 93300 End-of-day quote.-28.78%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.59% 60.9739 Delayed Quote.-17.93%
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