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KOSPI rises, foreigners net buyers
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Korean won strengthens against dollar
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South Korea benchmark bond yield rises
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For the midday report, please click
SEOUL, Jan 26 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares jumped on Thursday, led by automakers and battery manufacturers on a brighter demand outlook for cars, especially electric ones. The Korean won and the benchmark bond yield were flat.
** The benchmark KOSPI rose 40.08 points, or 1.60%, to 2,468.65 by the close of the session, notching its highest since Dec. 1, 2022. It has risen 10.38% so far this month.
** "The market cheered better-than-expected earnings in the car industry, for which expectations had been very low," said Seo Jung-hun, an analyst at Samsung Securities.
** Hyundai Motor rose 5.55%, the fastest in seven months, as the automaker forecast solid vehicle sales and revenue growth for 2023. Its sister Kia rose 6.62%, the fastest in nearly 16 months, a day before its own earnings release.
** Battery maker LG Energy Solution gained 6.82%, the fastest in 11 months, after its customer Tesla said aggressive price cuts have ignited demand for its cars, with the fourth-quarter result that beat market expectations.
** The battery maker's parent LG Chem rose 5.06%, while peers Samsung SDI and SK Innovation rose 3.54% and 1.80%, respectively.
** South Korea's economy contracted in the last quarter of 2022 for the first time in nearly three years, data showed on Thursday, which was close to expectations and prompting little market reaction.
** Of the total 934 issues traded, 621 shares advanced.
** Foreigners were net buyers with their biggest daily purchase since Nov. 30, 2022 of shares worth 810.9 billion won ($659.17 million), in their 16th buying session out of 17 this year.
** The won ended onshore trade 0.08% higher at 1,230.7 per dollar.
** In money and debt markets, March futures on three-year treasury bonds rose 0.03 point to 104.98.
** The most liquid three-year Korean treasury bond yield fell by 1.1 basis points to 3.274%, while the benchmark 10-year yield rose by 0.1 basis point to 3.231%. ($1 = 1,230.1900 won) (Reporting by Jihoon Lee; Editing by Krishna Chandra Eluri)
