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MarketScreener Homepage  >  Indexes  >  World  >  KOSPI Composite Index    KOSPI   KRD020020008

KOSPI COMPOSITE INDEX

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S.Korean stocks reverse course to end flat on big retail buying

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09/11/2020 | 04:34am EDT

* KOSPI flat, foreigners net sellers

* Korean won weakens against U.S. dollar

* South Korean benchmark bond yield rises

* For the midday report, please click

SEOUL, Sept 11 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares recouped all losses to close almost unchanged on Friday, finishing the week with a gain of over 1%, as more buying by retail investors offset weakness due to a rout in U.S. tech stocks and a rise in domestic cases of COVID-19.

** The won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI closed up 0.21 points, or 0.01%, at 2,396.69, after falling as much as 0.9% during the session. For the week, the index gained 1.2%.

** "The KOSPI traded steadily despite rising volatility in U.S. stocks... Investor sentiment remains weak, but the trend of active buying by retail investors continued to limit further losses," said Kiwoom Securities' analyst Seo Sang-young.

** Retail investors looked past a slight uptick in daily cases of COVID-19 reported on Friday, buying 451.2 billion won ($380.40 million) worth of shares on the main board. Foreigners sold around 165.4 billion worth of equities.

** Meanwhile, strong chip sales and improved demand from major trading partners slowed the pace of decline in South Korean exports.

** That pushed SK Hynix higher by 2.4%, while its peer and market heavyweight Samsung Electronics slid 0.3%. A sub-index for electric and electronics reversed earlier losses to end nearly flat.

** The won ended at 1,186.9 per dollar on the onshore settlement platform, down 0.17%. For the week, it edged up 0.2%.

** In offshore trading, the won was quoted at 1,186.9 per dollar, while in non-deliverable forward trading, its one-month contract was quoted at 1,186.0.

** In money and debt markets, September futures on three-year treasury bonds fell 0.01 point to 111.86, while the most liquid 3-year Korean treasury bond yield rose by 0.8 basis point to 0.924%. ($1 = 1,186.1200 won) (Reporting by Joori Roh; editing by Uttaresh.V)


Stocks mentioned in the article
ChangeLast1st jan.
KOSPI COMPOSITE INDEX -0.67% 2344.79 Real-time Quote.7.34%
SAMSUNG ELECTRONICS CO., LTD. 0.33% 60400 End-of-day quote.8.24%
SK HYNIX, INC. -0.83% 83200 End-of-day quote.-11.58%
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