South Korean shares end higher on rate-cut hopes ahead of US jobs data

Published on 09/04/2025 at 03:09 am EDT

• KOSPI rises, foreigners net buyers
• Korean won weakens against dollar
• South Korea benchmark bond yield falls

(Reuters) - Round-up of South Korean financial markets:
** South Korean shares ended higher for a third consecutive session on Thursday, buoyed by overnight gains in Wall Street as traders bet on potential interest rate cuts ahead of upcoming U.S. employment data.
** The benchmark KOSPI closed up 16.41 points, or 0.52%, at 3,200.83.
** The Nasdaq rose 1% and the S&P 500 also ended higher on Wednesday as investors were optimistic that the U.S. Federal Reserve would cut its interest rates this month.
** "Ahead of U.S. employment data due later this week, other economic indicators are raising hopes," Daishin Securities analyst Lee Kyoung-min said, citing a near 100% market consensus for a U.S. rate cut.
** Among index heavyweights, chipmaker Samsung Electronics rose 0.43%, while peer SK Hynix gained 1.14%. Battery maker LG Energy Solution climbed 0.72%.
** Shares of Hyundai Motor and sister automaker Kia Corp were flat. Steelmaker POSCO Holdings added 1.43%, while drugmaker Samsung BioLogics rose 0.49%.
** Of the total 932 traded issues, 610 shares advanced, while 249 declined.
** Foreigners were net buyers of shares worth 202.4 billion won ($145.81 million).
** The won was quoted at 1,392.5 per dollar on the onshore settlement platform, 0.20% lower than its previous close at 1,389.7.
** The most liquid three-year Korean treasury bond yield rose 0.4 basis point to 2.474%, while the benchmark 10-year yield fell by 2.7 basis points to 2.885%.
($1 = 1,388.1500 won) ( Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips )

Sumber : Reuters