Company News

S.Korea stocks hit over 2-yr high as Biden wins U.S. election

    * KOSPI jumps to highest since mid-June 2018, foreigners net
    * KRW hits strongest since Feb. 1, 2019 vs USD
    * South Korea benchmark bond yield rises

    SEOUL, Nov 9 (Reuters) - Round-up of South Korean financial
    ** South Korean shares jumped to their highest level in more
than two years on Monday, tracking global shares, as Democrat
Joe Biden's victory in the U.S. presidential election fuelled
risk appetite. The won strengthened to its highest since Feb. 1,
2019, while the benchmark bond yield also rose.
    ** By 0218 GMT, the benchmark KOSPI         rose 27.06
points, or 1.12%, to 2,443.56, after jumping as much as 1.76% to
its highest since June 12, 2018.
    ** "Relief rally over Biden's victory is continuing ...
China's exports turned out better than expected, adding to
economic recovery hopes," said Kiwoon Securities analyst Seo
    ** South Korean battery maker SK Innovation's            
shares surged as much as 10.2% to a seven-week high, while rival
battery makers Samsung SDI             and LG Chem            
rose 5.8% and 1.1%, respectively, as the sector was seen
benefiting from Biden's aims for clean energy.             
    ** China's exports grew at the fastest pace in 19 months in
October, beating forecasts, while imports also continued to
rise, official data showed on Saturday.             
    ** Foreigners were net buyers of 208.0 billion won ($186.21
million) worth of shares on the main board.
    ** The won was quoted at 1,116.7 per dollar on the onshore
settlement platform           , 0.33% higher than its previous
close at 1,120.4.
    ** In offshore trading, the won        was quoted at
1,116.9, up 0.4% from the previous day, while in non-deliverable
forward trading its one-month contract               was quoted
at 1,116.7.
    ** In money and debt markets, December futures on three-year
treasury bonds         fell 0.05 points to 111.67 in early
    ** The most liquid 3-year Korean treasury bond yield rose by
2.4 basis points to 0.967%, while the benchmark 10-year yield
rose by 2.6 basis points to 1.584%.

($1 = 1,116.9900 won)

 (Reporting by Joori Roh; Editing by Ramakrishnan M.)