South Korean won pares early gains as President Yoon refuses to step down

SOUTHKOREA-MARKETS/MIDDAY:South Korean won pares early gains as President Yoon refuses to step down

Updated on: Dec 12, 2024, 07:07:59 IST

Reuters

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South Korean won pares early gains as President Yoon refuses to step down

KOSPI rises, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield rises

SEOUL, - Round-up of South Korean financial markets:

** The South Korean won pared early gains on Thursday morning as political turmoil continued after President Yoon Suk Yeol refused to step down amid parliament's push to impeach him.

** The won was unchanged from its previous closing price of 1,430.9 as of 1252 GMT in the onshore market.

** The benchmark KOSPI was up 13.95 points, or 0.57%, at 2,456.46 as of 00:48 GMT.

** President Yoon said he will fight until the last moment with the public amid the opposition's moves to impeach him.

** Among index heavyweights, chipmaker Samsung Electronics rose 0.56% and peer SK Hynix gained 1.40%, while battery maker LG Energy Solution slid 0.13%.

** Hyundai Motor added 0.96% and sister automaker Kia Corp gained 1.66%, while search engine Naver and instant messenger Kakao were down 1.83% and up 0.67%, respectively.

** Of the total 933 traded issues, 530 shares advanced, while 352 declined.

** Foreigners were net sellers of shares worth 136.8 billion won on the main board on Thursday.

** The won rose as much as 0.1% to 1,428.9 per dollar on the onshore settlement platform before paring gains.

** In offshore trading, the won was quoted at 1,430.0 per dollar, down 0.2%, while in non-deliverable forward trading its one-month contract was quoted at 1,428.0.

** The KOSPI has fallen 7.49% so far this year, and lost 5.8% in the previous 30 trading sessions.

** The won has lost 9.9% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds fell 0.03 point to 106.74.

** The most liquid three-year Korean treasury bond yield rose by 0.9 basis points to 2.544%, while the benchmark 10-year yield rose by 0.5 bps to 2.695%.

This article was generated from an automated news agency feed without modifications to text.

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