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KOSPI rises, foreigners net buyers
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Korean won strengthens against dollar
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South Korea benchmark bond yield rises
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For the midday report, please click
SEOUL, Sept 12 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares jumped more than 2% on Thursday, its
best day in more than a month, as Nvidia ( NVDA )-supplier SK Hynix ( HXSCF )
tracked sharp gains in the U.S. AI firm, while other chipmakers
and automakers also rallied.
** The benchmark KOSPI closed up 58.72 points, or
2.34%, at 2,572.09, snapping seven sessions of declines and
marking its biggest percentage gain since Aug. 6.
** "Chip stocks rose on Nvidia's ( NVDA ) comments that demand was
strong for AI chips," said Lee Kyoung-min, an analyst at Daishin
Securities.
** SK Hynix ( HXSCF ) rose 7.38%, posting its best session
since March 21, after Nvidia's ( NVDA ) 8% overnight jump.
** Rival Samsung Electronics rose 2.16% after
Reuters reported that the company is cutting up to 30% of its
overseas staff.
** Hyundai Motor ( HYMTF ) added 3.8%, while sister
automaker Kia gained 3.01%. Both will likely be
among the biggest gainers of the government's market reform
measures, according to analysts.
** South Korea's public pension fund, which has been
aggressively raising overseas investments, pledged to look at
domestic opportunities.
** A board member of South Korea's central bank said
economic growth and financial stability are key factors being
considered to determine the time and pace of interest rate cuts.
** Among other index heavyweights, battery maker LG Energy
Solution climbed 3.76%, while search engine Naver
and instant messenger Kakao added 2.30%
and 2.61%, respectively.
** Foreigners were net buyers of shares worth 275.8 billion
won ($206 million).
** The won was quoted at 1,338.7 per U.S. dollar on the
onshore settlement platform, 0.21% higher than its
previous close of 1,341.5.
** The most liquid three-year Korean treasury bond yield
rose by 1.2 basis points (bps) to 2.861%, while the benchmark
10-year yield rose by 1.5 bps to 2.962%.
($1 = 1,338.8700 won)