S.Korean stocks fall on Evergrand woes, Fed`s tapering hint
Thursday, September 23, 2021       14:39 WIB

SEOUL, Sept 23 (Reuters) - South Korean shares fell on Thursday as fears lingered over property developer China Evergrande's debt burden, while investors weathered the prospect of a reduction in stimulus by the U.S. Federal Reserve. The Korean won weakened, while the benchmark bond yield rose.
The benchmark KOSPI fell 12.93 points, or 0.41%, to 3,127.58 as of 06:32.
Among the heavyweights, technology giant Samsung Electronics rose 0.26% and peer SK Hynix fell 1.40%, while LG Chem rose 8.42% and Naver fell 0.74%.
South Korea's markets resumed trading on Thursday after being closed from Monday through Wednesday for a public holiday.
China's embattled property developer Evergrande faced a Thursday deadline to pay interest on one of its dollar bonds, in a crucial moment for global investors worried that its malaise could spread beyond the country's property sector.
The Federal Reserve said on Wednesday it would likely begin reducing its monthly bond purchases as soon as November and signaled interest rate increases may follow more quickly than expected.
Foreigners were net buyers of 553.1 billion won ($470.64 million) worth of shares on the main board.
The won was quoted at 1,175.5 per dollar on the onshore settlement platform, 0.04% lower than its previous close at 1,175.0.
In offshore trading, the won was quoted at 1,175.6 per dollar, up 0.5% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,175.9.
The won has lost 7.6% against the dollar so far this year. In money and debt markets, December futures on three-year treasury bonds fell 0.09 points to 109.58.
The most liquid 3-year Korean treasury bond yield rose by 1.9 basis points to 1.556%, while the benchmark 10-year yield rose by 3.4 basis points to 2.100%. ($1 = 1,175.2000 won) (Reporting by Cynthia Kim; Additional reporting by Jihoon Lee; Editing by Rashmi Aich)

Sumber : Reuters.com