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S.Korean stocks end higher on earnings optimism

07/23/2021 | 03:17am EDT

* KOSPI rises, foreigners net sellers

* Korean won weakens against U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

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

** South Korean shares closed higher on Friday, building on the previous session's sharp gains, as earnings optimism and positive cues from Wall Street underpinned markets. The won weakened, while the benchmark bond yield fell.

** The KOSPI closed up 4.21 points, or 0.13%, at 3,254.42. The index rose 1.07% on Thursday, marking its best day in two months on upbeat earnings from Hyundai Motor and POSCO.

** For the week, it fell 0.69%, reversing a 1.83% gain marked in the previous week.

** Among heavyweights, internet giant Naver and messenger app operator Kakao jumped 2.73% and 1.36%, respectively. Chip giants Samsung Electronics and SK Hynix, however, slid 0.50% and 0.84% each.

** Foreigners were net sellers of 163.6 billion won ($142.15 million) worth of shares on the main board.

** "COVID-19 situation, the U.S. Federal Open Market Committee and earnings results from major chip giants are in focus for next week," said Daishin Securities' analyst Lee Kyoung-min.

** SK Hynix and Samsung Electronics are set to announce their earnings on Tuesday and Thursday, respectively.

** Mega-cap tech companies in the United States such as Microsoft, Amazon, Apple and Facebook will also announce their results next week.

** The won ended at 1,150.8 per dollar on the onshore settlement platform, down 0.08%.

** Meanwhile, South Korea reported 1,630 new coronavirus cases for Thursday, down from a record 1,842 infections marked a day earlier.

** In offshore trading, the won was quoted at 1,150.8, while in non-deliverable forward trading, its one-month contract was quoted at 1,151.0.

** In money and debt markets, September futures on three-year treasury bonds rose 0.01 point to 110.27.

** The benchmark 10-year yield fell by 3.4 basis points to 1.888%. ($1 = 1,150.8700 won) (Reporting by Joori Roh; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -3.08% 3355.73 Delayed Quote.6.31%
APPLE INC. -2.14% 142.94 Delayed Quote.7.72%
FACEBOOK INC -2.47% 355.7 Delayed Quote.30.22%
HYUNDAI MOTOR COMPANY 0.48% 209000 End-of-day quote.8.85%
KAKAO CORP. -1.65% 119500 End-of-day quote.53.40%
LG CHEM, LTD. -2.09% 701000 End-of-day quote.-14.93%
MICROSOFT CORPORATION -1.86% 294.3 Delayed Quote.32.32%
NAVER CORPORATION 0.25% 403000 End-of-day quote.37.78%
POSCO -0.55% 362500 End-of-day quote.33.27%
SAMSUNG ELECTRONICS CO., LTD. 1.45% 77200 End-of-day quote.-4.69%
SK HYNIX INC. 2.88% 107000 End-of-day quote.-9.70%
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