SEOUL: Round-up of South Korean financial markets:
South Korea stocks rise on moves to scrap planned tax on financial investments
South Korean shares traded flat on Tuesday, while investors awaited US chipmaker Nvidia’s earnings later in the week for cues on global chip demand.
The benchmark KOSPI gained 3.58 points, or 0.14%, at 2,473.38 as of 0128 GMT, after rising 2.2% on Monday.
Chipmaker Samsung Electronics added 0.35%, after rising sharply for two consecutive sessions on a surprise share buyback plan. However, peer SK Hynix was flat.
AI darling Nvidia will report its third-quarter earnings on Wednesday, when investors will assess the global chip demand and the sustainability of the AI euphoria that drove much of the market’s rally this year.
Among other index heavyweights, e-commerce and biopharmaceutical stocks rose, while automakers fell. Battery makers remained mixed.
Of the total 933 traded issues, 448 shares advanced, while 399 declined.
Foreigners net sold shares worth 34.9 billion won ($25 million).
The won was quoted at 1,393.1 per US dollar on the onshore settlement platform, 0.03% higher than its previous close at 1,393.5.
In money and debt markets, December futures on three-year treasury bonds rose 0.04 point to 105.93.
The most liquid three-year Korean treasury bond yield fell by 1.7 basis points to 2.900%, while the benchmark 10-year yield fell by 2.3 basis points to 3.047%.
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