South Korean shares close at highest in nearly two years on chip boost
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KOSPI rises, foreigners net buyers
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Korean won strengthens against dollar
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South Korea benchmark bond yield rises
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SEOUL, March 26 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose on Tuesday to their highest in nearly two years as heavyweight chipmakers rallied, tracking an overnight jump in U.S. peer Micron Technology. The won strengthened, while the benchmark bond yield rose.
** The benchmark KOSPI ended up 19.52 points, or 0.71%, at 2,757.09, its highest closing level since April 5, 2022.
** Chipmaker Samsung Electronics rose 2.17% and peer SK Hynix gained 4.25%, after Micron Technology's overnight 6.3% jump.
** "Local semiconductor stocks rose after Micron hit a new high and were also boosted by foreign buying," said Cho Jun-kee, an analyst at SK Securities.
** South Korean consumer spending will benefit from interest rate cuts when the central bank makes them, a member of its board said on Tuesday, adding that domestic demand has become more sensitive to interest rates than before.
** South Korea's consumer sentiment dropped sharply in March on growing worries about higher produce prices, a central bank survey showed on Tuesday, as inflation hitting the dinner table emerges as a major policy issue at next month's elections.
** Of the total 933 traded issues, 456 shares advanced, while 405 declined.
** Foreigners were net buyers of shares worth 622.2 billion won ($464.20 million) on the main board.
** The won ended onshore trade at 1,339.5 per dollar, 0.19% higher than its previous close at 1,342.1.
** In money and debt markets, June futures on three-year treasury bonds fell 0.05 point to 104.82.
** The most liquid three-year Korean treasury bond yield rose by 1.2 basis points to 3.301%, while the benchmark 10-year yield rose by 2.5 basis points to 3.394%. ($1 = 1,340.3600 won) (Reporting by Jihoon Lee and Youn Ah Moon; Editing by Sohini Goswami)
