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Seoul: Stocks edge up on gains in large tech firms; won weaker

[SEOUL] South Korea's KOSPI stock index rose on Tuesday, while its won currency edged down against the greenback in onshore trade and bond yields fell. At 0632 GMT, the KOSPI was up 10.36 points or 0.42 per cent at 2,494.48.

Tech giants Samsung Electronics and SK Hynix gained 3.9 per cent and 6 per cent, respectively, lifting Seoul stock markets.

The won was quoted at 1,067.5 per dollar on the onshore settlement platform, 0.22 per cent weaker than its previous close at 1,065.2. In offshore trading, the won was quoted at 1,066.49 per US dollar, down 0.22 per cent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,055.6 per dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.11 per cent, while two key US indices ended the previous session with losses. Japanese stocks rose 0.66 per cent. The KOSPI is up around 0.7 per cent so far this year, and has risen 2.12 per cent in the previous 30 days. The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 per cent and the market capitalisation is 1,242.04 trillion won.

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The trading volume during the session on the KOSPI index was 345,464,000 shares, and of the total traded issues of 885, the number of advancing shares was 317.

Foreigners were net buyers of 581,628 million won worth of shares. It was the largest net buying amount since Oct 11, when they bought 702 billion won worth.

The US dollar has risen 0.01 per cent against the won this year. The won's high for the year is 1,056.67 per dollar on Jan 14, while the low is 1,098.4 on Feb 6. In money and debt markets, March futures on three-year treasury bonds rose 0.01 points to 107.71. The Korean three-month Certificate of Deposit benchmark rate was quoted at 1.65 per cent, while the benchmark three-year Korean treasury bond yielded 2.302 per cent, lower than the previous day's 2.31 per cent.

REUTERS

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