South Korea shares set for weekly gain; won falls

SEOUL: Round-up of South Korean financial markets:

• South Korean shares fell on Friday but were set for a weekly gain on rising bets of a US Federal Reserve interest rate cut next month.
• The won weakened, while the benchmark bond yield rose.
• The benchmark KOSPI was down 36.37 points, or 0.91%, at 3,950.54, as of 0151 GMT. It has risen about 2.5% so far this week.
• Among index heavyweights, chipmaker Samsung Electronics fell 1.74% on Friday, while peer SK Hynix lost 0.74%. Battery maker LG Energy Solution slid 5.88%.
• Hyundai Motor and sister automaker Kia Corp were up 0.19% and up 0.18%, respectively. Steelmaker POSCO Holdings shed 1.76%, while drugmaker Samsung BioLogics fell 1.70%.
• Global stocks rose on Thursday, while expectations for a Fed rate cut next month kept the dollar a touch softer against most currencies although the yen remained on intervention watch as traders weighed the prospect of a rate hike before year-end.
• The US markets were closed for the Thanksgiving holiday on Thursday and will only have a short session on Friday.
• Of the total 926 traded issues, 586 shares advanced, while 296 declined.
• Foreigners were net sellers of shares worth 750.9 billion won.
• The won was quoted at 1,465.9 per dollar on the onshore settlement platform, 0.22% lower than its previous close at 1,462.7.
• In offshore trading, the won was quoted at 1,465.9 per dollar, down 0.3% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,463.0.
• The KOSPI has risen 64.64% so far this year.
• In money and debt markets, December futures on three-year treasury bonds lost 0.09 point to 105.36.
• The most liquid three-year Korean treasury bond yield rose by 4.4 basis points to 3.064%, while the benchmark 10-year yield rose by 2.0 basis points to 3.380%.‑Reuters