South Korean shares hit 3-1/2-year high on chip boost

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KOSPI rises, foreigners net sellers

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Korean won weakens against dollar

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South Korea benchmark bond yield falls

SEOUL, - Round-up of South Korean financial markets:

** South Korean shares rose on Tuesday to their highest level in nearly 3-1/2 years as heavyweight chipmakers tracked overnight gains in U.S. peers.

** The benchmark KOSPI was up 24.90 points, or 0.85%, at 2,971.56 as of 0124 GMT, after rising as much as 1.76% earlier in the session to the highest level since January 3, 2022.

** South Korea's government will introduce a second supplementary budget for the year on Thursday, after a budget worth 13.8 trillion won passed in May.

** The Philadelphia SE Semiconductor index jumped 3.03% on Monday, led by an 8.81% surge in Advanced Micro Devices after Piper Sandler raised its price target on the chipmaker.

** Among South Korean index heavyweights, chipmaker Samsung Electronics rose 2.80%, while peer SK Hynix gained 2.42%. Battery maker LG Energy Solution climbed 0.51%.

** Hyundai Motor and sister automaker Kia Corp were up 0.74% and 1.03%, respectively. Steelmaker POSCO Holdings shed 0.77%, while drugmaker Samsung BioLogics was flat.

** Of the total 937 traded issues, 458 shares advanced, while 422 declined.

** Foreigners were net sellers of shares worth 53.6 billion won .

** The won was quoted at 1,361.9 per U.S. dollar on the onshore settlement platform, 0.28% lower than its previous close at 1,358.1.

** In money and debt markets, June futures on three-year treasury bonds gained 0.03 point to 107.06.

** The most liquid three-year Korean treasury bond yield fell by 1.3 basis points to 2.475%, while the benchmark 10-year yield fell by 2.5 basis points to 2.851%.

This article was generated from an automated news agency feed without modifications to text.