Note

S.Korean shares end at record high, see biggest annual gain since 2009

Verified Media
· Views 28

* KOSPI jump 2% to record closing high

* KOSPI up 30.8% for 2020, ends 23.4% higher for Q4

* KRW strengthens against USD, up 6.5% for 2020, up 7.7% for Q4

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Dec 30 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares closed at a record high on Wednesday, driven by Samsung Electronics, other heavyweights and hopes for an economic recovery, while it also posted gains of more than 30% for 2020, its biggest annual jump in 11 years.

** The country’s financial markets will be closed from Thursday and will reopen on Jan. 4.

** The benchmark KOSPI closed up 52.96 points, or 1.88%, at a record high of 2,873.47. The index rose for a fifth straight day.

** Chip giant Samsung Electronics ended 3.5% higher to its record high, while its peer SK Hynix rose 2.2%.

** Other heavyweights Naver <035420,KS>, Samsung SDI and LG Chem also rose 3.4%, 4.5% and 1.4%, respectively.

** The nation’s trade data is due on Jan. 1, which could provide additional signals that the economy is on recovery track.

** For 2020, the index surged 30.8%, the largest gain since 2009, while it soared 23.4% in the final quarter, its biggest quarterly jump in over 17 years.

** Towing such gains were retail investors as they gobbled up 47.5 trillion won ($43.76 billion) for the year, Korean Exchange data showed.

** Foreigners were net buyers of 250.3 billion won worth of shares on the main board, but they sold around net 24.6 trillion in 2020, the data showed.

** The won ended at 1,086.3 per dollar on the onshore settlement platform, up 0.53%.

** For the year, the won gained 6.5% against the dollar, while it rose 7.7% in the fourth quarter, marking the fastest quarterly gain since the first quarter of 2017.

** In offshore trading, the won was quoted at 1,085.8, while in non-deliverable forward trading its one-month contract was quoted at 1,085.5.

** The most liquid 3-year Korean treasury bond yield rose by 1.0 basis point to 0.982%. ($1 = 1,085.5400 won) (Reporting by Joori Roh; editing by Uttaresh.V)

Our Standards: The Thomson Reuters Trust Principles.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.