SEOUL — The latest data from the South Korean financial market on March 13, 2024, reveals slight changes in bond yields across various maturities.
According to Yonhap News Agency, the yield on one-year Treasury bills decreased by 1.6 basis points, settling at 3.345 percent, down from the previous session’s 3.361 percent. The two-year Treasury bills also saw a decline, dropping 1.7 basis points to a new rate of 3.340 percent. The three-year Treasury bills experienced a more significant decrease, with yields falling 2.2 basis points to 3.251 percent. However, the ten-year Treasury bills witnessed a minor reduction, with yields decreasing by 0.4 basis points to 3.331 percent.
The data also showed changes in the yields for other financial instruments. Two-year Monetary Stabilization Bonds (MSBs) decreased by 1.1 basis points to 3.339 percent. Meanwhile, the yields on three-year Corporate Bonds rated AA- fell by 1.8 basis points to 3.899 percent. Lastly, the yield on the 91-day Certificates of Deposit (CD) decreased by 1.0 basis point to 3.650 percent.
SEOUL — South Korean stocks closed higher on Wednesday, echoing the upward trend in Wall Street where major technology stocks fueled significant gains. Concurrently, the local currency experienced a decline against the U.S. dollar.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) increased by 11.76 points, reaching 2,693.57, a rise of 0.44 percent. Trading volume for the day stood at 491 million shares, amounting to a total of 10.7 trillion won (approximately US$8.14 billion), with more stocks advancing than declining.
The upward movement in Seoul’s stock market was predominantly led by foreign investors, who net purchased 334 billion won worth of shares, contrasting with the selling activity by institutional and retail investors. This surge aligns with the performance on Wall Street, where major technology companies such as Nvidia and Oracle saw significant increases, despite concerns over higher-than-anticipated U.S. inflation figures for February.
The Dow Jones Industrial Average saw a rise of 0.61 percent, while the S&P 500 and Nasdaq Composite grew by 1.12 percent and 1.54 percent, respectively. Analyst Han Ji-young from Kiwoom Securities highlighted the influence of anticipated Federal Reserve rate cuts and the rebound in artificial intelligence-related stocks as key factors behind the U.S. market’s resilience.
In the domestic market, sectors such as technology and finance witnessed notable advances. Samsung Electronics saw an increase of 1.09 percent in its stock price, while KB Financial Group experienced a significant jump of 5.87 percent. The auto and telecom sectors also saw healthy trading activity, with Hyundai Motor and SK Telecom experiencing rises in their stock values.
However, not all sectors enjoyed gains; battery-related stocks faced a downturn as investors decided to capitalize on the previous session’s substantial increases. LG Energy Solution and POSCO Future M both saw declines in their stock prices.
The South Korean won concluded the trading day weaker against the U.S. dollar, marking a decrease from the previous session’s close.