S.Korea stocks gain for second day on foreign buying
* KOSPI rises, foreigners net buyers
* Korean won strengthens against U.S. dollar
* South Korea benchmark bond yield falls
SEOUL, Dec 2 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose for a second session on Thursday, boosted by strong buying from foreign investors on expectations of chip shortage issues bottoming out for the sector. The Korean won strengthened, while the benchmark bond yield fell.
** The benchmark KOSPI .KS11 rose 32.16 points, or 1.11%, to 2,931.88 as of 0310 GMT, but record local COVID-19 cases capped gains.
** Han Ji-young, an analyst at Kiwoom Securities, said foreign investors are snapping up tech shares on views that the chip shortage will improve, and investors are hoping the economic impact from the Omicron coronavirus variant may be limited, as it will be difficult to impose lockup measures to contain the virus.
** Among the heavyweights, technology giant Samsung Electronics 005930.KS rose 1.08% and peer SK Hynix 000660.KS rose 3%, while LG Chem 051910.KS inched up 0.14% and Naver 035420.KS jumped 1.92%.
** South Korea's daily coronavirus case numbers rose to a new high on Thursday, as authorities halted quarantine exemptions for fully vaccinated inbound travellers for two weeks in a bid to fend off the Omicron variant.
** Foreigners were net buyers of 359 billion won worth of shares on the main board.
** The won was quoted at 1,176.8 per dollar on the onshore settlement platform KRW=KFTC , 0.20% higher than its previous close at 1,179.2.
** In offshore trading, the won KRW= was quoted at 1,176.7 per dollar, up 0.0% from the previous day, while in non-deliverable forward trading, its one-month contract KRW1MNDFOR= was quoted at 1,176.6.
** The KOSPI has risen 2.03% so far this year, but lost 3.8% in the previous 30 trading sessions.
** The most liquid 3-year Korean treasury bond yield fell by 2.3 basis points to 1.789%, while the benchmark 10-year yield fell by 2.1 basis points to 2.160%.
Reporting by Cynthia Kim; Additional reporting by Jihoon Lee; Editing by Devika Syamnath
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.