Seoul: Stocks mixed, barely up for sixth session ahead of tech, auto earnings

[SEOUL] South Korean shares swung between gains and losses on Monday as investors weighed upcoming corporate earnings of domestic tech giants and carmakers, while concerns surrounding the spread of Covid-19 variants capped gains. The Korean won weakened, while the benchmark bond yield fell.

The benchmark Kospi rose 0.22 point or 0.01 per cent to 3,198.84 by 6.32am GMT.

Investors are cautiously optimistic, many are looking forward to performance of chipmakers amid chip shortages, and also to preliminary April exports, says Choi Yoo-june, an analyst at Shinhan Investment & Securities.

Among the heavyweights, technology giant Samsung Electronics fell 0.72 per cent and peer SK Hynix rose 0.36 per cent, while LG Chem fell 1.78 per cent and Naver fell 0.38 per cent.

Foreigners were net sellers of 299.8 billion won (S$357.6 million) worth of shares on the main board.

The won was quoted at 1,117.2 per dollar on the onshore settlement platform, 0.08 per cent lower than its previous close at 1,116.3.

In offshore trading, the won was quoted at 1,117.2 per dollar, down 0.1 per cent from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,116.9.

The Kospi has risen 11.32 per cent so far this year, and gained 5.7 per cent in the previous 30 trading sessions.

The trading volume during the session in the Kospi index was 1,046.07 million shares. Of the total traded issues of 906, the number of advancing shares was 456.

The won has lost 2.8 per cent against the dollar so far this year.

In money and debt markets, June futures on three-year treasury bonds rose 0.09 point to 110.89.8.

The most liquid three-year Korean treasury bond yield fell by 2.4 basis points to 1.131 per cent, while the benchmark 10-year yield fell by 4.2 basis points to 1.982 per cent.

REUTERS

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