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South Korean shares track Wall Street lower, set for weekly loss
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South Korean shares track Wall Street lower, set for weekly loss
Apr 4, 2024 6:37 PM

*

KOSPI falls, foreigners net sellers

*

Korean won weakens against dollar

*

South Korea benchmark bond yield falls

SEOUL, April 5 (Reuters) - Round-up of South Korean

financial markets:

** South Korean shares fell on Friday, tracking Wall

Street's losses overnight on hawkish comments from U.S. Federal

Reserve officials. The won weakened, while the benchmark bond

yield fell.

** The benchmark KOSPI fell 13.69 points, or 0.50%,

to 2,728.31 by 0104 GMT. For the week, the KOSPI was down 0.7%.

** Minneapolis Federal Reserve Bank President Neel Kashkari

said on Thursday that no interest rate cut may be required by

the end of the year, if inflation continues to stall.

** Samsung Electronics ( SSNLF ) fell 0.82%, even as the

world's largest memory chip maker estimated a more than 10-fold

rise in its first-quarter profit. Peer SK Hynix lost

0.90%.

** Most other index heavyweights also declined, while

automakers were flat.

** Hanwha Aerospace dropped 6.99% after its

announcement to spin off industrial solutions and semiconductor

equipment businesses from its flagship defence division.

** Of the total 927 traded issues, 310 shares advanced,

while 540 declined.

** Foreigners were net sellers of shares worth 44.2 billion

won ($32.75 million) on the main board.

** The won was quoted at 1,349.5 per dollar on the onshore

settlement platform, 0.18% lower than its previous

close at 1,347.1.

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

treasury bonds rose 0.04 point to 104.76.

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

fell by 1.1 basis points to 3.328%, while the benchmark 10-year

yield fell by 2.2 basis points to 3.434%.

($1 = 1,349.6300 won)

(Reporting by Jihoon Lee; Editing by Subhranshu Sahu)

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