S.Korea stocks rise as investors latch on to upbeat export data

Korean won weakens against the U.S. dollar

  
A currency dealer walks past electronic boards showing the Korea Composite Stock Price Index (KOSPI) and the exchange rate between the U.S. dollar and South Korean won at a dealing room of a bank, in Seoul, South Korea, November 5, 2020.

A currency dealer walks past electronic boards showing the Korea Composite Stock Price Index (KOSPI) and the exchange rate between the U.S. dollar and South Korean won at a dealing room of a bank, in Seoul, South Korea, November 5, 2020.

REUTERS/Kim Hong-Ji

SEOUL: Round-up of South Korean financial markets: ** South Korean shares rose on Monday as risk appetite got a lift after data showed the country's exports marked an eighth straight month of double-digit growth in October. The Korean won weakened, while the benchmark bond yield fell.

** The benchmark KOSPI was up 13.34 points, or 0.45%, at 2,984.02, as of 0237 GMT.

** Among shares of export-reliant companies, technology giant Samsung Electronics rose 1% and peer SK Hynix rose 3.40%, while LG Chem fell 0.96% and Naver rose 0.25%.

** Foreigners were net sellers of 243.8 billion won worth of shares on the main board.

** South Korean exports surged 24% in October from a year earlier, propelled by post-lockdown recoveries in major markets, which pushed up demand for Korean chips and petrochemical products. 

** Investors also took cues from a bounce in Wall Street. U.S. stocks closed the last trading day of the month with modest gains on Friday as a rise in Microsoft helped offset declines in Amazon and Apple after disappointing quarterly earnings from the online retailer and iPhone maker. 

** The won was quoted at 1,176.7 per dollar on the onshore settlement platform, 0.69% lower than its previous close at 1,168.6.

** In offshore trading, the won was quoted at 1,176.9 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,177.3.

** The KOSPI rose 3.85% so far this year, but lost 5.0% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 270.01 million shares. Of the total traded issues of 926, the number of advancing shares was 382.

** The won weakened 7.7% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds rose 0.03 points to 107.83.

** The most liquid 3-year Korean treasury bond yield rose by 1.0 basis points to 2.112%, while the benchmark 10-year yield fell by 7.3 basis points to 2.510%.

(Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips) ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))


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