South Korean stocks fall after Wall Street rout; won drops, yields rise
The benchmark KOSPI fell 17.02 points, or 0.63%, to 2,678.03 as of 0143 GMT, after losing as much as 1.01% in early trade.
- May 2, 2022,
- Updated May 2, 2022 8:20 AM IST
Round-up of South Korean financial markets:
** South Korean shares started the week lower on Monday after Wall Street's Friday rout and weaker-than-expected demestic exports data. The Korean won dropped, while the benchmark bond yield surged.
** The benchmark KOSPI fell 17.02 points, or 0.63%, to 2,678.03 as of 0143 GMT, after losing as much as 1.01% in early trade.
** Among the heavyweights, technology giant Samsung Electronics fell 0.59% and peer SK Hynix lost 1.78%, while battery maker LG Energy Solution dropped 2.16%.
** Wall Street marked its steepest daily losses since 2020 last Friday, while the Chinese stock market was closed on Monday.
** South Korean stock market's fall was comparatively milder than that of Wall Street, as U.S. big tech companies' earnings shock had a limited impact on local sentiment, said Kiwoom Securities' analyst Kim Sae-hun.
** South Korea's exports grew at their slowest pace in 14 months in April, with its trade deficit widening as China-bound shipments shrank and rising energy and raw materials' prices pushed up the country's imports. Read full story
** Foreigners were net sellers of 34.0 billion won ($26.86 million) worth of shares on the main board.
** The won was quoted at 1,264.5 per dollar on the onshore settlement platform, 0.68% lower than its previous close at 1,255.9.
** In offshore trading, the won was quoted at 1,265.9 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,265.0.
** In money and debt markets, June futures on three-year treasury bonds fell 0.29 points to 105.04.
** The most liquid 3-year Korean treasury bond yield rose by 9.5 basis points to 3.053%, while the benchmark 10-year yield rose by 12.3 basis points to 3.368%.
Round-up of South Korean financial markets:
** South Korean shares started the week lower on Monday after Wall Street's Friday rout and weaker-than-expected demestic exports data. The Korean won dropped, while the benchmark bond yield surged.
** The benchmark KOSPI fell 17.02 points, or 0.63%, to 2,678.03 as of 0143 GMT, after losing as much as 1.01% in early trade.
** Among the heavyweights, technology giant Samsung Electronics fell 0.59% and peer SK Hynix lost 1.78%, while battery maker LG Energy Solution dropped 2.16%.
** Wall Street marked its steepest daily losses since 2020 last Friday, while the Chinese stock market was closed on Monday.
** South Korean stock market's fall was comparatively milder than that of Wall Street, as U.S. big tech companies' earnings shock had a limited impact on local sentiment, said Kiwoom Securities' analyst Kim Sae-hun.
** South Korea's exports grew at their slowest pace in 14 months in April, with its trade deficit widening as China-bound shipments shrank and rising energy and raw materials' prices pushed up the country's imports. Read full story
** Foreigners were net sellers of 34.0 billion won ($26.86 million) worth of shares on the main board.
** The won was quoted at 1,264.5 per dollar on the onshore settlement platform, 0.68% lower than its previous close at 1,255.9.
** In offshore trading, the won was quoted at 1,265.9 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,265.0.
** In money and debt markets, June futures on three-year treasury bonds fell 0.29 points to 105.04.
** The most liquid 3-year Korean treasury bond yield rose by 9.5 basis points to 3.053%, while the benchmark 10-year yield rose by 12.3 basis points to 3.368%.