S.Korean stocks set to post biggest weekly gain in 2 months

Reuters2021-04-02

* KOSPI rises, foreigners net buyers

* Korean won strengthens against U.S. dollar

* South Korea benchmark bond yield rises

SEOUL, April 2 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares climbed on Friday and were set to clock their biggest weekly gain in nearly two months following optimism about a stimulus-fueled economic recovery. The won strengthened, while the benchmark bond yield rose.

** The benchmark KOSPI rose 27.39 points, or 0.89%, to 3,114.79 by 0255 GMT. For the week, the index is up about 2.3%.

** Among the heavyweights, technology giant Samsung Electronics

rose 2.41% and peer SK Hynix added 0.36%. LG Chem and Naver gained 1.71% and 0.13%, respectively.

** Demand for chip shares are strong, following a rebound on Wall Street. Investors seem to be focusing on tech shares once again, which is lifting local shares, DS Investment & Securities' analyst Na Jeong-hwan said.

** Aiding sentiment, South Korea's consumer inflation rose to its fastest pace in 14 months.

** Foreigners were net buyers of 455.0 billion won ($403.66 million) worth of shares on the main board.

** The won was quoted at 1,128.0 per dollar on the onshore settlement platform , up 0.35%.

** In offshore trading, the won was quoted at 1,127.2 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,126.8.

** The KOSPI has risen 8.40% so far this year, but lost 1.5% in the previous 30 trading sessions.

** The trading volume was 485.10 million shares. Of the total traded issues of 906, the number of advancing shares was 353.

** The most liquid 3-year Korean treasury bond yield was flat at 1.138%, while the benchmark 10-year yield rose by 1.5 basis points to 2.038%.

($1 = 1,127.1800 won)

(Reporting by Cynthia Kim, additional reporting by Jihoon Lee; editing by Uttaresh.V)

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

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