Seoul: Stocks end higher ahead of US inflation data

[SEOUL] South Korean shares ended higher on Tuesday, buoyed by foreign buying after overnight gains on Wall Street, while investors awaited US August inflation data due later in the day. The won strengthened and the benchmark bond yield rose.

The benchmark Kospi closed up 20.97 points or 0.67 per cent at 3,148.83, extending the gains to a third straight day.

Among the heavyweights, chip giants Samsung Electronics and SK Hynix rose 0.39 per cent and 0.94 per cent, respectively, while platform companies Naver and Kakao fell 1.35 per cent and 0.40 per cent, respectively.

Foreigners were net buyers of 294 billion won (S$337 million) worth of shares on the main board.

Meanwhile, market participants awaitied US consumer price data for a broad picture of the country's economic recovery and possible policy clues ahead of the Federal Reserve's meeting next week.

The won ended at 1,170.8 per dollar on the onshore settlement platform, 0.44 per cent higher than its previous close at 1,176.

In offshore trading, the won was quoted at 1,170.3 per dollar, up 0.2 per cent from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,170.6.

In money and debt markets, September futures on three-year treasury bonds fell 0.02 point to 110.10.

The most liquid three-year Korean treasury bond yield rose by 1.8 basis points to 1.541 per cent, while the benchmark 10-year yield rose by 2.7 basis points to 2.062 per cent.

REUTERS