May 2, 2024 at 7:18 am GMT
- KOSPI falls, foreigners net buyers
- Korean won strengthens against dollar
- South Korea benchmark bond yield falls
SEOUL (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell on Thursday after the U.S. Federal Reserve's policy meeting outcome and follow-up measures to a domestic corporate reform push.
** The won strengthened, while the benchmark bond yield fell.
** The benchmark KOSPI .KS11 closed down 8.41 points, or 0.31%, at 2,683.65, snapping a three-session rally.
** "Market worries about another rate hike eased after the Fed's meeting, but there was nothing new in the government's announcement of follow-up measures, although investors had expected tax benefits," said Na Jeong-hwan, an analyst at NH Investment Securities.
** The Fed held interest rates steady on Wednesday and signalled it was still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.
** South Korea's financial regulator proposed detailed guidelines for companies if they choose to participate in the government's reform programme aimed at enhancing shareholder value.
** The Finance-major index .KS49 fell 2.06% and the Securities-minor index .KS53 lost 1.48%, making themselves the biggest-declining sub-indexes.
** Foreigners were net buyers of shares worth 5.7 billion won ($4.14 million).
** The won ended onshore trade KRW=KFTC at 1,375.9 per dollar, 0.44% higher than its previous close at 1,382.0.
** In money and debt markets, June futures on three-year treasury bonds KTBc1 rose 0.08 point to 104.15.
** The most liquid three-year Korean treasury bond yield fell by 2.2 basis points to 3.508%, while the benchmark 10-year yield fell by 2.0 basis points to 3.636%.
($1 = 1,376.1600 won)
Reporting by Jihoon Lee; Editing by Rashmi Aich
Sumber : Reuters
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