financetom
Market
financetom
/
Market
/
South Korean shares close at highest in nearly two years on chip boost
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
South Korean shares close at highest in nearly two years on chip boost
Mar 26, 2024 12:51 AM

*

KOSPI rises, foreigners net buyers

*

Korean won strengthens against dollar

*

South Korea benchmark bond yield rises

*

For the midday report, please click

SEOUL, March 26 (Reuters) - Round-up of South Korean

financial markets:

** South Korean shares rose on Tuesday to their highest in

nearly two years as heavyweight chipmakers rallied, tracking an

overnight jump in U.S. peer Micron Technology ( MU ). The won

strengthened, while the benchmark bond yield rose.

** The benchmark KOSPI ended up 19.52 points, or

0.71%, at 2,757.09, its highest closing level since April 5,

2022.

** Chipmaker Samsung Electronics rose 2.17% and

peer SK Hynix gained 4.25%, after Micron

Technology's ( MU ) overnight 6.3% jump.

** "Local semiconductor stocks rose after Micron hit a new

high and were also boosted by foreign buying," said Cho Jun-kee,

an analyst at SK Securities.

** South Korean consumer spending will benefit from interest

rate cuts when the central bank makes them, a member of its

board said on Tuesday, adding that domestic demand has become

more sensitive to interest rates than before.

** South Korea's consumer sentiment dropped sharply in March

on growing worries about higher produce prices, a central bank

survey showed on Tuesday, as inflation hitting the dinner table

emerges as a major policy issue at next month's elections.

** Of the total 933 traded issues, 456 shares advanced,

while 405 declined.

** Foreigners were net buyers of shares worth 622.2 billion

won ($464.20 million) on the main board.

** The won ended onshore trade at 1,339.5 per

dollar, 0.19% higher than its previous close at 1,342.1.

** In money and debt markets, June futures on three-year

treasury bonds fell 0.05 point to 104.82.

** The most liquid three-year Korean treasury bond yield

rose by 1.2 basis points to 3.301%, while the benchmark 10-year

yield rose by 2.5 basis points to 3.394%.

($1 = 1,340.3600 won)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sector Update: Tech Stocks Fall Late Afternoon
Sector Update: Tech Stocks Fall Late Afternoon
Aug 3, 2025
03:48 PM EDT, 08/01/2025 (MT Newswires) -- Tech stocks dropped late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 2.1% and the SPDR S&P Semiconductor ETF (XSD) losing 1.4%. The Philadelphia Semiconductor index shed 1.5%. In corporate news, NetEase ( NTES ) shares fell 2.3% after Arete downgraded the stock to sell from neutral and cut its...
Sector Update: Consumer Stocks Mixed Late Afternoon
Sector Update: Consumer Stocks Mixed Late Afternoon
Aug 3, 2025
03:46 PM EDT, 08/01/2025 (MT Newswires) -- Consumer stocks were mixed in late Friday afternoon trading, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 2.6%. In corporate news, Newell Brands ( NWL ) shares tumbled past 15% after it issued a downbeat guidance for Q3 and lowered...
TSX Closer: The Index Shed 500 Points In Three Days Since Tuesday's Record Close As Tariffs Cast a Shadow
TSX Closer: The Index Shed 500 Points In Three Days Since Tuesday's Record Close As Tariffs Cast a Shadow
Aug 3, 2025
04:23 PM EDT, 08/01/2025 (MT Newswires) -- The Toronto Stock Exchange on Friday saw its losses for the last three sessions since Tuesday's record close rise to near 500 points, as an arbitrary deadline for a trade agreement between Canada and the United States passed, leading to President Donald Trump applying a 35% tariff to many Canadian goods. The S&P/TSX...
Equity Markets Lower After Weak Jobs Data, New Tariffs
Equity Markets Lower After Weak Jobs Data, New Tariffs
Aug 3, 2025
03:45 PM EDT, 08/01/2025 (MT Newswires) -- US benchmark equity indexes are on track to close lower on Friday, after a softer-than-anticipated July jobs report and the declaration of new tariffs by President Donald Trump on imports from several countries. The Dow Jones Industrial Average was down 1.2% to 43,596.70, while the S&P 500 fell 1.6% to 6,239.63. Nasdaq Composite...
Copyright 2023-2026 - www.financetom.com All Rights Reserved