S.Korea stocks end 5-day losing streak; heavyweights lead gains
Tuesday, May 04, 2021       14:23 WIB

SEOUL, May 4 (Reuters) - South Korean shares ended higher on Tuesday, led by heavyweights and recouping early losses over stock short-selling resumption worries. Both the won and the benchmark bond yield rose.
The KOSPI ended up 20.17 points, or 0.64%, at 3,147.37, ending a five-day losing streak. It declined as much as 0.56% in early trade to hit its lowest level since April 5.
Among heavyweights, chip giants Samsung Electronics and SK Hynix rose 1.10% and 0.38%, respectively, while battery maker LG Chem and Hyundai Motor added 1.43% and 2.52%.
Markets in Japan and mainland China remained closed for public holidays, keeping trading volumes thin across the region.
South Korea's financial markets will be closed on Wednesday due to a public holiday.
"It looks like a technical rebound after hitting recent low levels ... But the volatility due to the resumption of stock short-selling will likely continue for some time," said Choi Yoo-june, analyst at Shinhan Investment Corp.
Meanwhile, South Korea's consumer inflation accelerated to a near four-year high in April, mainly due to a low base in 2020 and rising oil and agricultural prices.
Foreigners were net sellers of 73.8 billion won ($65.78 million) worth of shares on the main board.
The won was quoted at 1,122.6 per dollar on the onshore settlement platform, 0.12% higher than its previous close at 1,124.0.
In offshore trading, the won was quoted at 1,122.1, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,121.9.
In money and debt markets, June futures on three-year treasury bonds fell 0.01 points to 110.78.
The most liquid 3-year Korean treasury bond yield rose by 0.4 basis points to 1.154%. ($1 = 1,121.8700 won) (Reporting by Joori Roh; Additional reporting by Jihoon Lee; Editing by Vinay Dwivedi)

Sumber : reuters.com