South Korean shares rise as auto, battery makers offset chipmaker losses

Reuters09:35
South Korean shares rise as auto, battery makers offset chipmaker losses

KOSPI rises, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield rises

SEOUL, Feb 4 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose for a second straight session on Wednesday, as gains in auto and battery makers outpaced losses in chipmakers.

** The benchmark KOSPI .KS11 was up 23.63 points, or 0.45%, at 5,311.71, as of 0123 GMT.

** Chipmaker Samsung Electronics 005930.KS fell 1.37% and peer SK Hynix 000660.KS lost 1.54%, tracking overnight losses in U.S. artificial intelligence-related stocks.

** Wall Street ended sharply lower on Tuesday as investors worried about AI creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet GOOGL.O and Amazon AMZN.O later this week. .N

** Most other index heavyweights advanced, led by Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS, which rose 2.24% and 1.10%, respectively.

** Battery maker LG Energy Solution 373220.KS climbed 2.17% on a supply deal. Peer Samsung SDI 006400.KS jumped 3.87%.

** Steelmaker POSCO Holdings 005490.KS added 1.12%, while drugmaker Samsung BioLogics 207940.KS rose 0.40%.

** Of the total 925 traded issues, 645 shares advanced, while 233 declined.

** Foreigners were net sellers of shares worth 546.4 billion won ($376.54 million).

** The won was quoted at 1,453.7 per dollar on the onshore settlement platform KRW=KFTC, 0.49% lower than its previous close at 1,446.6.

** In money and debt markets, March futures on three-year treasury bonds KTBc1 lost 0.08 point to 104.71.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 1.8 basis points to 3.206%, while the benchmark 10-year yield KR10YT=RR rose by 3.1 basis points to 3.692%.

($1 = 1,451.1000 won)

(Reporting by Jihoon Lee; Editing by Subhranshu Sahu)

((jihoon.lee@thomsonreuters.com;))

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