SEOUL: Round-up of South Korean financial markets:
South Korean shares set to post worst month since Jan on US tariff worries
South Korean shares rose on Monday after investors gained confidence from the financial regulator’s proposal to amend laws aimed at enhancing protection for minority shareholders.
The won depreciated, and the benchmark bond yield declined.
The benchmark KOSPI was up 3.00 points, or 0.12%, at 2,458.91, as of 0223 GMT.
Among index heavyweights, chipmaker Samsung Electronics fell 1.11% and peer SK Hynix lost 0.69%, while battery maker LG Energy Solution climbed 2.10%.
The Financial Services Commission said it would work with the ruling party to put forward a revised bill of the Commercial Act this week aimed at better protecting the rights of minority shareholders.
Shares of Hyundai Motor shed 1.37% and sister automaker Kia Corp gained 1.3%, while search engine Naver and instant messenger Kakao were up 1.21% and up 4.86%, respectively.
Of the total 937 traded issues, 237 shares advanced, while 668 declined.
Foreigners were net sellers of shares worth 53.8 billion won on the main board on Monday.
The won was quoted at 1,401.0 per dollar on the onshore settlement platform, 0.32% lower than its previous close at 1,396.5.
In offshore trading, the won was quoted at 1,401.5 per dollar, down 0.5% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,399.4.
The KOSPI has fallen 7.40% so far this year, and lost 5.3% in the previous 30 trading sessions.
The won has lost 8.1% against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds rose 0.11 point to 106.89.
The most liquid three-year Korean treasury bond yield fell 2.2 basis points to 2.582%, while the benchmark 10-year yield fell 4.8 basis points to 2.715%.
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