SEOUL (Reuters) -Round-up of South Korean financial markets: ** South Korean shares rose on Wednesday, as pharmaceutical stocks jumped on the government’s pledge to support the sector against U.S. tariffs. ** The benchmark KOSPI was up 25.83 points, or 0.99%, at 2,627.63 as of 0346 GMT. ** The pharmaceutical sector rose 3.97% and was the […]
Health
South Korean shares rise 1% as pharmaceutical stocks jump
Audio By Carbonatix
SEOUL (Reuters) -Round-up of South Korean financial markets:
** South Korean shares rose on Wednesday, as pharmaceutical stocks jumped on the government’s pledge to support the sector against U.S. tariffs.
** The benchmark KOSPI was up 25.83 points, or 0.99%, at 2,627.63 as of 0346 GMT.
** The pharmaceutical sector rose 3.97% and was the biggest gaining sub-index, as drugmaker Samsung Biologics rose 6.23% and peer Celltrion added 0.35%.
** South Korea’s government pledged more support measures for key export industries, including the biopharmaceutical and auto sectors, which are expected to be hit by U.S. President Donald Trump’s sweeping tariffs.
** Among other index heavyweights, chipmaker Samsung Electronics rose 0.36%, while peer SK Hynix lost 0.50%. Battery maker LG Energy Solution slid 0.36%.
** Hyundai Motor and sister automaker Kia Corp were down 0.32% and up 0.66%, respectively. Steelmaker POSCO Holdings was flat.
** Of the total 935 traded issues, 545 shares advanced, while 318 declined.
** Foreigners were net buyers of shares worth 113.7 billion won ($82.05 million).
** The won was quoted at 1,386.6 per dollar on the onshore settlement platform, 0.56% higher than its previous close at 1,394.4.
** In money and debt markets, June futures on three-year treasury bonds lost 0.05 point to 107.52.
** The most liquid three-year Korean treasury bond yield rose by 1.5 basis points to 2.345%, while the benchmark 10-year yield rose by 5.1 basis points to 2.773%.
($1 = 1,385.8000 won)
(Reporting by Jihoon Lee; Editing by Mrigank Dhaniwala)