South Korean shares rise for seventh session as chip stocks rally

Reuters
02-19
South Korean shares rise for seventh session as chip stocks rally

KOSPI rises, foreigners net buyers

Korean won weakens against dollar

South Korea benchmark bond yield rises

SEOUL, Feb 19 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose for a seventh straight session on Wednesday, as chip stocks followed their U.S. peers higher. The won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI .KS11 was up 45.68 points, or 1.74%, at 2,672.49, as of 0155 GMT.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 2.81% and peer SK Hynix 000660.KS gained 4.05%, while battery maker LG Energy Solution 373220.KS climbed 5.42%.

** Shares of chipmaker Intel INTC.O jumped 10.1% overnight. Taiwan Semiconductor Manufacturing Co 2330.TW and Broadcom AVGO.O are eyeing potential deals that would break Intel into two, the Wall Street Journal reported on Saturday.

** Hyundai Motor 005380.KS added 1.75% and sister automaker Kia Corp 000270.KS gained 1.38%, while search engine Naver 035420.KS and instant messenger Kakao 035720.KS were up 0.22% and up 1.41%, respectively.

** Of the total 939 traded issues, 542 shares advanced, while 333 declined.

** Foreigners were net buyers of shares worth 147.7 billion won on the main board on Wednesday.

** The won was quoted at 1,440.5 per dollar on the onshore settlement platform KRW=KFTC, 0.07% lower than its previous close at 1,439.5.

** In offshore trading, the won KRW= was quoted at 1,440.8 per dollar, flat on the day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,438.2.

** The KOSPI has risen 11.38% so far this year, and gained 9.5% in the previous 30 trading sessions.

** The won has gained 2.2% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds KTBc1 fell 0.01 point to 106.58.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 0.3 basis point to 2.647%, while the benchmark 10-year yield KR10YT=RR rose by 3.6 basis points to 2.893%.

(Reporting by Cynthia Kim; Editing by Subhranshu Sahu)

((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))

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