Seoul: Stocks end higher, investors eye key corporate earnings

[SEOUL] South Korean shares ended higher on Monday (Oct 25) ahead of key corporate quarterly results at home and abroad. The won strengthened and the benchmark bond yield rose.

The benchmark Kospi closed 14.38 points or 0.48 per cent higher at 3,020.54.

Among the heavyweights, technology giant Samsung Electronics fell 0.28 per cent, while peer SK Hynix rose 1.52 per cent. Battery maker LG Chem added 0.37 per cent but Naver fell 1.23 per cent.

Samsung Electronics and SK Hynix are expected to report their earnings results on Thursday (Oct 28) and Tuesday (Oct 26), respectively.

Globally, Facebook will report results later on Monday (Oct 25), while other tech giants Microsoft, Apple and Alphabet will announce their results later in the week.

Meanwhile, South Korea's central bank will release its third-quarter economic data early on Tuesday (Oct 26), which is expected to have slowed a bit on subdued domestic demand.

The central bank said on Monday (Oct 25) upside risks to its inflation forecast are growing and added it cannot rule out the possibility that consumer prices may rise more than 3 per cent this month.

Foreigners were net buyers of 35.6 billion won (S$40.9 million) worth of shares on the main board.

The won ended at 1,168.4 per dollar on the onshore settlement platform, 0.74 per cent higher than its previous close.

In offshore trading, the won was quoted at 1,168.7 per dollar, up 0.8 per cent from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,169.3.

In money and debt markets, December futures on 3-year treasury bonds rose 0.05 point to 108.53.

The most liquid 3-year Korean treasury bond yield rose by 0.8 basis point to 1.897 per cent, while the benchmark 10-year yield rose by 0.2 basis point to 2.413 per cent.

REUTERS