South Korean shares climb nearly 2% as Wall Street rally boosts sentiment

SEOUL: Round-up of South Korean financial markets: South Korean shares rose on Tuesday, tracking Wall Street gains after the S&P 500 and Nasdaq 100 posted their biggest advances since early August. The won strengthened 1% against the dollar, while the benchmark bond yield fell. The benchmark KOSPI was up 135. 91 points, or 1. 94%, at 7, 143. 63 as of 00: 59 GMT. Shares of chipmaker Samsung Electronics rose 2. 28%, while peer SK Hynix gained 2. 94%. The Nasdaq hit a record close on Monday, lifted by Advanced Micro Devices and other AI heavyweights, while lower oil prices and long-dated Treasury yields also boosted risk sentiment. The South Korean government is due to brief lawmakers on Tuesday on plans for a $350 billion US investment package, a key step as Seoul and Washington seek to finalise implementation of a trade deal that cut US tariffs on South Korean goods to 15%. Among other index heavyweights, battery maker LG Energy Solution climbed 0. 43%, while Hyundai Motor and sister automaker Kia Corp were up 2. 30% and 0. 92%, respectively. Shares of steelmaker POSCO Holdings added 0. 63%, while drugmaker Samsung BioLogics edged 0. 07% higher. Of the total 906 traded issues, 458 shares advanced, while 381 declined. Foreigners were net buyers of shares worth 162. 8 billion won. The won was quoted at 1, 365. 7 per dollar on the onshore settlement platform, 0. 71% higher than its previous close at 1, 375. 4. The KOSPI has risen 69. 51% so far this year. The won has strengthened 5. 4% against the dollar so far this year. In money and debt markets, December futures on three-year treasury bonds gained 0. 04 point to 102. 26. The most liquid three-year Korean treasury bond yield fell 1. 1 basis points to 4. 044%, while the benchmark 10-year yield fell 0. 8 basis points to 4. 438%. ‐Reuters

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