South Korean shares set to post best month since November 2020
SEOUL: Round-up of South Korean financial markets:
South Korean shares rose on Monday, tracking Wall Street's gains ahead of major economic data releases later this week, and were set to post their best month since late 2020.
The benchmark KOSPI index was up 25.39 points, or 0.83%, at 3,081.33 as of 0202 GMT.
It has risen 14.1% so far this month on post-election policy optimism and will post the biggest monthly rise since November 2020, if gains hold.
Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq indexes to all-time closing highs, as trade deal hopes fueled risk appetite and economic data helped solidify expectations for rate cuts from the US Federal Reserve.
South Korea's factory output fell for a second straight month in May, coming in weaker than market expectations.
South Korea is scheduled to report trade data for June on Tuesday.
Among index heavyweights, chipmaker Samsung Electronics fell 0.66%, while peer SK Hynix gained 2.90%. Battery maker LG Energy Solution climbed 2.95%.
Hyundai Motor and sister automaker Kia Corp were up 0.49% and 0.10%, respectively. Steelmaker POSCO Holdings added 1.15%, while drugmaker Samsung BioLogics rose 0.10%. ** Of the total 935 traded issues, 539 shares advanced, while 351 declined.
Foreigners were net sellers of shares worth 212.5 billion won ($156.66 million).
The won was quoted at 1,356.9 per dollar on the onshore settlement platform, 0.32% higher than its previous close at 1,361.3.
In money and debt markets, September futures on three-year treasury bonds gained 0.07 point to 107.32.
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