Seoul: Stocks end little changed, US inflation data in focus

[SEOUL] South Korean shares ended flat on Tuesday (Nov 9), despite record closing highs on Wall Street, as traders stayed cautious ahead of the inflation data from the United States. The won strengthened, while the benchmark bond yield fell.

The benchmark Kospi closed up 2.26 points or 0.08 per cent at 2,962.46, snapping 2 straight sessions of declines.

It slid 0.31 per cent on Monday (Nov 8).

Among the heavyweights, technology giant Samsung Electronics fell 0.14 per cent, while peer SK Hynix and platform company Naver rose 1.40 per cent and 2.33 per cent, respectively.

Foreigners were net sellers of 137.8 billion won (S$157.4 million) worth of shares on the main board.

Weighing on the sentiment was a dire shortage of urea solution - material used in diesel vehicles and factories to cut emissions, threatening to stall commercial transport and industries.

The won ended at 1,177.2 per dollar on the onshore settlement platform, 0.50 per cent higher than its previous close at 1,183.1.

In offshore trading, the won was quoted at 1,177 per dollar, up 0.3 per cent from the previous day, while in non-deliverable forward trading its 1-month contract was quoted at 1,177.7.

In money and debt markets, December futures on 3-year treasury bonds rose 0.18 point to 108.80.

The most liquid 3-year Korean treasury bond yield fell by 4.7 basis points to 1.859 per cent, while the benchmark 10-year yield fell by 3.2 basis points to 2.296 per cent.

REUTERS