04-September – South Korea Financial Markets Roundup:
South Korean stocks rose on Monday on expectations that the Federal Reserve is nearing the end of its tightening cycle and China took new measures to prop up the real estate sector. The South Korean won strengthened and benchmark bond yields rose.
The benchmark KOSPI rose 6.82 points, or 0.27%, to 2,570.53 by 02:38 GMT.
Among index heavyweights, chipmaker Samsung Electronics rose 0.85 percent, peer SK Hynix fell 2.42 percent, while battery maker LG Energy Solution rose 0.96 percent.
China stepped up measures to boost the economy late on Friday, with top banks paving the way for further cuts in lending rates, and sources said Beijing was planning further moves, including easing curbs on home purchases.
The August U.S. non-farm payrolls report reinforced expectations of an end to rate hikes.
Hyundai Motor fell 0.48 percent and sister automaker Kia Corp shed 0.13 percent, while search engine Naver and instant messaging tool Kakao fell 2.33 percent and 0.51 percent, respectively.
Of the 933 stocks traded, 345 rose and 526 fell.
South Korea will provide exporters with up to 181 trillion won ($137 billion) in low-interest loans by the end of this year and waive visa fees for Chinese tourists, the finance ministry said on Monday, in a bid to boost exports and tourism.
Foreigners bought a net 214.4 billion won worth of stocks on the main board on Monday.
The KOSPI has risen 14.96 percent so far this year, but has lost 1.4 percent over the past 30 sessions.
The Korean won has lost 4.0 percent against the dollar so far this year.
In money and debt markets, September futures on three-year Treasury notes fell 0.10 point to 103.54.
The yield on the most liquid three-year government bond rose 3.3 basis points to 3.722%, while the benchmark 10-year yield rose 6.2 basis points to 3.838%.
