S. Korean stocks advance ahead of bilateral meeting with Japan

S. Korean stocks advance ahead of bilateral meeting with Japan
S. Korean stocks advance ahead of bilateral meeting with Japan

Overview of South Korean financial markets:

** South Korean stocks rose on Tuesday, as traders waited for comments from the bilateral meeting of finance ministers of South Korea and Japan, and U.S. inflation data for clues on the reduction trajectory Federal Reserve interest rates. The won strengthened, while benchmark bond yields fell.

** The benchmark KOSPI rose 11.62 points, or 0.42%, to 2,776.35 at 02:50 GMT.

** Among index heavyweights, chipmaker Samsung Electronics rose 0.99% and peer SK Hynix lost 0.00%, while battery maker LG Energy Solution climbed 0. 45%.

** Hyundai Motor rose 3.56% and Kia Corp gained 0.62%, while search engine Naver and instant messaging Kakao were down 1.42% and 1.90%, respectively.

** The US personal consumption expenditures price index is due Friday.

** Of the 932 stocks traded, 398 rose and 463 fell.

** Foreigners were net buyers of shares worth 64.7 billion won ($46.65 million).

** The won was quoted at 1,386.2 per dollar on the onshore settlement platform, 0.20 percent higher than its previous close at 1,389.0.

** In offshore trading, the won was quoted at 1,388.2 per dollar, down 0.1 percent on the day, while in non-deliverable futures trading, its one-month contract was quoted at 1 385.3.

**The KOSPI is up 4.56% year to date, and has gained 1.9% over the last 30 sessions.

** The won has lost 7.1% against the dollar since the start of the year.

** In money and debt markets, September futures on three-year Treasury notes rose 0.03 points to 105.21.

**The yield on Korea’s most liquid three-year Treasury bond rose 0.1 basis point to 3.185 percent, while the benchmark 10-year yield fell 1.4 basis point to 3.251 %. ($1 = 1,386.8400 won)

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