South Korean stocks edge up amid cautious optimism over US trade talks
SOUTHKOREA-MARKETS/MIDDAY:South Korean stocks edge up amid cautious optimism over US trade talks
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KOSPI rises, foreigners net sellers
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Korean won strengthens against dollar
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South Korea benchmark bond yield falls
SEOUL, - Round-up of South Korean financial markets:
** South Korean shares edged higher on Monday in a cautious start to the week as investors assessed interim progress in trade negotiations between Seoul and Washington. The won strengthened, while the benchmark bond yield fell. ** The benchmark KOSPI was up 5.37 points, or 0.18%, at 2,551.67, as of 0049 GMT. ** Among index heavyweights, chipmaker Samsung Electronics was flat and peer SK Hynix lost 1.03%, while battery maker LG Energy Solution climbed 0.44%. ** Shares of Hyundai Motor shed 0.32% and sister automaker Kia Corp gained 0.11%, while search engine Naver and instant messenger Kakao were up 1.09% and up 0.66%, respectively. ** South Korean Industry Minister Ahn Duk-geun said on Saturday that Seoul plans to approach trade talks with the United States "calmly and cautiously." ** U.S. Treasury Secretary Scott Bessent was encouraged by Thursday's discussions with South Korean officials that focussed on "an expanded equilibrium which encourages rather than restricts trade," the Treasury Department said on Friday. ** Of the total 933 traded issues, 434 shares advanced, while 435 declined. ** Foreigners were net sellers of shares worth 50.3 billion won on the main board on Monday. ** The won was quoted at 1,436.8 per dollar on the onshore settlement platform, 0.21% higher than its previous close at 1,439.8. ** In offshore trading, the won was quoted at 1,436.3 per dollar, up 0.1% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,433.3. ** The won has gained 2.5% against the dollar so far this year. ** In money and debt markets, June futures on three-year treasury bonds fell 0.01 point to 107.75. ** The most liquid three-year Korean treasury bond yield fell 0.3 basis points to 2.311%, while the benchmark 10-year yield lost 1.3 basis points to 2.569%.
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