South Korean shares advance as central bank cuts interest rates
KOSPI rises, foreigners net sellers
Korean won strengthens against dollar
South Korea benchmark bond yield flat
SEOUL, Oct 11 (Reuters) -Round-up of South Korean financial markets:
** South Korean shares rose on Friday, as the central bank cut interest rates in line with market expectations.
** The won strengthened, while the benchmark bond yield was unchanged.
** The benchmark KOSPI .KS11 rose 12.59 points, or 0.48%, to 2,611.75 by 0055 GMT.
** The Bank of Korea cut interest rates by a quarter percentage point as widely expected, embarking on an easing cycle to join global peers, as headline inflation slowed and the economy shrank in the second quarter.
** The cut came after 21 months of holding interest rates at the higehst since late 2008. Governor Rhee Chang-yong will hold a press conference at 0210 GMT to explain about the decision.
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 1.36% and peer SK Hynix 000660.KS gained 0.91%, while battery maker LG Energy Solution 373220.KS slid 1.52%.
** Hyundai Motor 005380.KS climbed 0.81% and sister automaker Kia Corp 000270.KS gained 0.79%, while search engine Naver 035420.KS and instant messenger Kakao 035720.KS were down 0.06% and down 0.27%, respectively.
** Korea Zinc 010130.KS was up 0.13%, after the world's biggest refined zinc producer raised its tender offer price for shares in the company to 890,000 won ($659) per share. Earlier in the session, it rose as much as 1.5% to an all-time high.
** Of the total 931 traded issues, 465 shares advanced, while 379 declined.
** Foreigners were net sellers of shares worth 197.3 billion won ($146.26 million).
** The won was quoted at 1,350.1 per dollar on the onshore settlement platform KRW=KFTC, 0.38% higher than its previous close at 1,355.2.
** In money and debt markets, December futures on three-year treasury bonds KTBc1 rose 0.07 point to 105.86.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 2.5 basis points to 2.940%, while the benchmark 10-year yield KR10YT=RR was flat at 3.079%.
($1 = 1,349.0000 won)
Reporting by Jihoon Lee; Editing by Subhranshu Sahu
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