Round-up of South Korean financial markets:
** South Korean shares ended flat on Thursday, as investors assessed the central bank’s meeting outcome that suggested a pivot towards policy easing.
** The won strengthened, while the benchmark bond yield fell.
** The benchmark KOSPI closed down 1.71 points, or 0.07%, at 2,540.27.
** The KOSPI rose as much as 0.60% after the central bank’s meeting result, but erased all of it near the end of the session. It was due partly to options expiry, which often raises volatility near the session’s close.
** The Bank of Korea hinted it may pivot towards monetary easing along with its global peers, after a widely-expected decision to keep its policy interest rate unchanged for an eighth meeting.
** “There was no huge change in the monetary policy meeting from the stock market perspective and only a marginal impact,” Na Jeong-hwan, an analyst at NH Investment Securities, said.
** Shares of chipmaker Samsung Electronics fell 0.54%, while Samsung SDS, Samsung Life Insurance and Samsung C&T ended down 3.21%, 3.24%, and 1.78%, respectively.
** Local media reported on Wednesday the family members of Samsung Electronics Chairman Jay Lee were planning to sell their stakes in the companies to raise funds for inheritance tax payments.
** Instant messenger Kakao jumped 2.70%, while its financial affiliates Kakaopay and Kakaobank surged 21.59% and 9.80%, respectively.
** Of the total 939 traded issues, 438 shares advanced, while 442 declined.
** Foreigners were net sellers of shares worth 376.8 billion won ($287.06 million) on the main board.
** The won ended onshore trade at 1,312.9 per dollar, 0.55% higher than its previous close at 1,320.1.
** The most liquid three-year Korean treasury bond yield fell by 3.3 basis points to 3.236%, while the benchmark 10-year yield fell by 3.5 basis points to 3.311%. ($1 = 1,312.6000 won) (Reporting by Jihoon Lee; Editing by Mrigank Dhaniwala)
