Wednesday, April 21, 2021

South Korean stocks extend losses after Samsung bribery ruling


** South Korean shares extended losses on Thursday as Samsung Group affiliates fell following a court ruling over the group heir’s bribery case. The Korean won weakened, while the benchmark bond yield was unchanged.

** Shares of a majority of Samsung Group affiliates declined after South Korea’s top court overturned part of an appeals court ruling in the bribery case of the group’s de facto chief Jay Y. Lee.

** Twelve of the 15 listed Samsung companies ended the day lower, with Samsung Electronics dropping 1.7% and Samsung BioLogics plunging 4.9%.

- Advertisement -

** The broader KOSPI, which has been pressured by global growth worries, extended its losses after the ruling, said Park Sang-hyun, an analyst with HI Investment & Securities.

** The Seoul stock market’s main KOSPI ended down 7.68 points or 0.40% at 1,933.41 points.

** Foreigners were net sellers of 117.1 billion won ($96.56 million) worth of shares on the main board.

** The won was quoted at 1,216.4 per dollar on the onshore settlement platform, 0.21% lower than its previous close at 1,213.9.

** In offshore trading, the won was quoted at 1,216.5 per U.S. dollar, down 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,215.3 per dollar.

- Advertisement -

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.29%, after U.S. stocks gained . Japanese stocks fell 0.09%.

** The KOSPI has fallen 5.27% so far this year, and lost 7.2% in the previous 30 trading sessions.

** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28% and the market capitalisation is 1,242.04 trillion won.

** The trading volume during the session in the KOSPI index was 279.47 million shares and, of the total traded issues of 890, the number of advancing shares was 399.

** The won has lost 8.3% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds were unchanged at 111.20, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield fell by 1.4 basis points to 1.167%, while the benchmark 10-year yield was flat at 1.246%.

- Advertisement -


Get our daily notification on the latest financial crimes news around the World


- Affiliate Products -


This Week

Enable Notifications    OK No thanks