S.Korea stocks slide on profit-taking after corporate earnings
* KOSPI falls, foreigners net sellers
* Korean won strengthens against U.S. dollar
* South Korea benchmark bond yield rises
* For the midday report, please click
SEOUL, April 29 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares ended lower on Thursday, as investors booked profits following a series of corporate earnings reports from technology giants, offseting a near 7% surge in LG Chem. Both the won and the benchmark bond yield rose.
** The benchmark KOSPI closed down 7.40 points, or 0.23%, at 3,174.07, after falling 1.06% on Wednesday.
** Meanwhile, South Korea is due to resume stock short-selling partially on Monday, for those on KOSPI 200 or KOSDAQ 150.
** Battery maker LG Chem surged nearly 7%, leading gains in the benchmark, after it reported a more than six-fold jump in quarterly operating profit on Wednesday.
** Chip giant Samsung Electronics slipped 0.49% even after reporting a 46% rise in first-quarter profit, as it expects mobile profits to drop in the current quarter.
** After a two-day policy meeting, the U.S. central bank noted progress on vaccines and economic recovery, but said “it is not time yet” to begin discussing any change in policy.
** Foreigners were net sellers of 14.5 billion won ($13.08 million) worth of shares on the main board.
** The won was quoted at 1,108.2 per dollar on the onshore settlement platform, 0.43% higher than its previous close at 1,113.0.
** In offshore trading, the won was quoted at 1,108.2 per dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,107.9.
** In money and debt markets, June futures on three-year treasury bonds fell 0.01 points to 110.89.
** The most liquid 3-year Korean treasury bond yield rose by 1.5 basis points to 1.119%, while the benchmark 10-year yield rose by 1.4 basis points to 2.096%.
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