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S.Korean stocks end 1% higher on upbeat earnings, trade report
Tuesday, October 26, 2021       16:48 WIB

SEOUL, Oct 26 (Reuters) - South Korean shares ended nearly 1% higher on Tuesday, as upbeat earnings from chipmaker SK Hynix and trade data offset investor concerns over slower-than-expected quarterly economic growth. The won and the benchmark bond yield strengthened.
The benchmark KOSPI closed up 28.54 points, or 0.94%, at 3,049.08.
Among the heavyweights, chip giants Samsung Electronics and SK Hynix rose 1.28% and 2%, respectively, while battery maker LG Chem and platform company Naver added 1.10% and 2.48%, respectively.
SK Hynix, the world's second-biggest memory chipmaker, forecast on Tuesday steady growth in demand for memory chips as it posted its highest quarterly operating profit since 2018 on the back of rising prices.
Hyundai Motor gained 1.18%, tracking a 12.66% surge in Tesla shares overnight, even as its third-quarter profit missed analysts' estimates on chip shortage.
The country's trade volume reached $1 trillion for the year on Tuesday and is set for a record in 2021, the country's customs agency said, lifting risk appetite further.
Investors appeared to show scant response to a central bank data that cited the economy grew slower than expected in the third quarter, as subdued private consumption and weak construction and facility investment offset robust exports.
Foreigners were net buyers of 106.1 billion won ($90.13 million) worth of shares on the main board.
The won ended at 1,167.6 per dollar on the onshore settlement platform, 0.07% higher than its previous close.
In offshore trading, the won was quoted at 1,166.6 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,167.1.
In money and debt markets, December futures on three-year treasury bonds rose 0.05 points to 108.47.
The most liquid 3-year Korean treasury bond yield rose by 0.8 basis points to 1.927%, while the benchmark 10-year yield rose by 1.9 basis points to 2.445%.
$1 = 1,177.2300 won Reporting by Joori Roh; Editing by Sherry Jacob-Phillips

Sumber : Reuters.com

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