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South Korean shares hit more than 21-month high as battery makers rally
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South Korean shares hit more than 21-month high as battery makers rally
Mar 12, 2024 12:13 AM

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KOSPI rises, foreigners net sellers

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Korean won little changed against dollar

*

South Korea benchmark bond yield steady

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For the midday report, please click

SEOUL, March 12 (Reuters) - Round-up of South Korean

financial markets:

** South Korean shares rose on Tuesday, led by battery

makers, to hit their highest in more than 21 months.

** The benchmark KOSPI closed up 21.97 points, or

0.83%, at 2,681.81, its highest since late May 2022.

** "Battery makers led the gains on the benchmark index,

after a slight rise in Tesla, while there also are hopes for

mass production of solid-state batteries by Samsung SDI," Cho

Jun-kee, an analyst at SK Securities, said.

** Battery maker LG Energy Solution climbed

4.74%, after its customer Tesla rose more than 1% on

Monday. Peers Samsung SDI and SK Innovation

jumped 11.12% and 1.94%, respectively.

** Battery materials makers LG Chem and POSCO

Holdings ( PKX ) rose 3.33% and 2.97%, respectively.

** Of the total 934 traded issues, 368 shares advanced,

while 496 declined.

** Foreigners were net sellers of shares worth 391.3 billion

won (about $299 million) on the main board.

** The won ended onshore trade at 1,311.0 per

dollar, 0.05% lower than its previous close at 1,310.3.

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

treasury bonds was unchanged at 104.80.

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

fell by 0.2 basis points to 3.273%, while the benchmark 10-year

yield fell by 0.3 basis points to 3.337%.

($1 = 1,310.1900 won)

(Reporting by Jihoon Lee; Editing by Mrigank Dhaniwala)

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