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KOSPI rises, foreigners net buyers
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Korean won steady against dollar
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South Korea benchmark bond yield little changed
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For the midday report, please click
SEOUL, March 20 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares rose more than 1% on Wednesday as
chipmaker Samsung Electronics ( SSNLF ) rallied on hopes for advanced chip
supplies to Nvidia ( NVDA ).
** The won and the benchmark bond yield were steady ahead of
the U.S. Federal Reserve's policy meeting outcome due later in
the day.
** The benchmark KOSPI closed up 33.97 points, or
1.28%, at 2,690.14, marking its biggest daily percentage gain
since Feb. 19 and outperforming most Asian peers.
** "It was Samsung Electronics ( SSNLF ) that led the rise in the
benchmark index, accounting for almost 90% of the total gains,"
said Lee Kyoung-min, an analyst at Daishin Securities.
** Samsung Electronics ( SSNLF ) rose 5.6%, posting its
best day since early September, after U.S. chipmaker Nvidia ( NVDA )
said it was qualifying the South Korean chipmaker's
high bandwidth memory (HBM) chips. Rival SK Hynix
fell 2.3%.
** Samsung Electronics ( SSNLF ) expects revenue of $100 million or
more from its next batch of advanced chip-packaging products
this year, its co-CEO said.
** The finance-major index climbed 1.04%, after the
finance minister's comments on Tuesday that the government was
considering tax cuts to boost dividend payouts by listed firms.
** Globally, investor focus is on the U.S. central bank's
policy meeting outcome, especially clues on the timing of an
interest rate cut.
** Of the total 933 traded issues, 481 shares advanced,
while 382 declined.
** Foreigners were net buyers of shares worth 840.4 billion
won ($626.98 million) on the main board.
** The won ended onshore trade unchanged at
1,339.8 per dollar.
** In money and debt markets, June futures on three-year
treasury bonds rose 0.04 point to 104.59.
** The most liquid three-year Korean treasury bond yield
rose by 0.4 basis point to 3.383%, while the benchmark 10-year
yield fell by 1.0 basis point to 3.459%.
($1 = 1,340.3900 won)