Gilead Stock – S.Korean stocks end lower, investors look to U.S. inflation data
* KOSPI falls, foreigners net sellers
* Korean won weakens against U.S. dollar
* South Korea benchmark bond yield falls
* For the midday report, please click
SEOUL, June 8 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares closed lower on Tuesday, dragged down by technology stocks, while investors awaited key U.S. inflation data due later this week. The won weakened, while the benchmark bond yield also fell.
** The benchmark KOSPI closed down 4.29 points, or 0.13%, at 3,247.83, reversing early gains of 0.39% and retreating from the previous session’s record finish. Electric and electronic stocks fell 0.41%, leading the retreat.
** Among heavyweights, Samsung Electronics closed flat, while peer SK Hynix fell 0.78%. Battery maker LG Chem declined 0.74%, while internet giant Naver was flat.
** Contract drug manufacturer Samsung Biologics Co Ltd jumped as much as 4.6% to a two-week high following an expansion of its deal with Gilead Sciences Inc.
** Foreigners were net sellers of 206.3 billion won ($185.24 million) worth of shares on the main board.
** “Investors remain cautious ahead of the U.S. inflation data release (later this week) and the U.S. Federal Reserve policy meeting next week,” said Na Jeong-hwan, an analyst at Cape Investment & Securities.
** The won ended at 1,114.2 per dollar on the onshore settlement platform, 0.12% lower than its previous close at 1,112.9.
** In offshore trading, the won was quoted at 1,113.7 per dollar, down 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,113.1.
** In money and debt markets, June futures on three-year treasury bonds rose 0.10 point to 110.89, while the 3-month Certificate of Deposit rate was quoted at 0.66% in late afternoon trade.
** The most liquid 3-year Korean treasury bond yield fell by 2.7 basis points to 1.174%, while the benchmark 10-year yield fell by 4.0 basis point to 2.116%. ($1 = 1,113.7100 won) (Reporting by Joori Roh; Additional reporting by Jihoon Lee; Editing by Subhranshu Sahu and Ramakrishnan M.)