South Korean shares track Chinese markets higher; US CPI in focus
Tuesday, January 14, 2025       14:47 WIB

Jan 14, 202514:20GMT+7
Key points:
  • KOSPI rises, foreigners net sellers
  • Korean won strengthens against dollar
  • South Korea benchmark bond yield falls

Round-up of South Korean financial markets:
(Reuters) - South Korean shares ended higher on Tuesday, tracking sharp gains in their Chinese peers, but the market still remained cautious ahead of U.S. inflation data and the Bank of Korea's policy meeting due later in the week.
** The benchmark KOSPIclosed up 7.84 points, or 0.31%, at 2,497.40. The index fell 1% on Monday.
** Stocks in China, South Korea's biggest trading partner, rallied more than 2% on Tuesday, despite U.S. curbs on technology exports, as exports gained momentum.
** "But the market's gains were capped by caution ahead of U.S. inflation data," said Seo Sang-young, an analyst at Mirae Asset Securities.
** U.S. consumer price index data for December is scheduled to be reported on Wednesday and comes on the heels of a last week's robust jobs report that weakened expectations of an interest rate cut by the U.S. Federal Reserve.
** The Bank of Korea is expected to cut rates by a quarter-point on Thursday, a month earlier than previously expected, to support a struggling economy amid risks from political uncertainty, according to a Reuters poll.
** Among index heavyweights, chipmaker Samsung Electronicsfell 0.37%. Peer SK Hynix, however, gained 0.36%, while battery maker LG Energy Solutionjumped 3.02%.
** Hyundai Motoradded 0.91% and sister automaker Kia Corpgained 1.23%. Biopharmaceutical manufacturers also firmed.
** Of the total 944 traded issues, 513 shares advanced, while 364 declined.
** Foreigners were net sellers of shares worth 294.4 billion won ($201.7 million).
** The won was quoted at 1,463.2 per U.S. dollar on the onshore settlement platform, 0.29% higher than its previous close of 1,467.5.
** In money and debt markets, March futures on three-year treasury bonds rose 0.10 points to 106.65.
** The most liquid three-year Korean treasury bond yield fell by 2.5 basis points to 2.644%, while the benchmark 10-year yieldshed 1.9 basis points to 2.836%.

Sumber : Reuters