Round-up of South Korean financial markets:
** South Korean shares closed higher on Friday, but logged a second weekly loss as a sharp selloff in technology companies earlier in the week weighed on Samsung Electronics and SK Hynix on concerns the AI-driven rally may be losing steam.
** The won strengthened, while the benchmark bond yield rose. ** The benchmark KOSPI KRX:KOSPI closed up 440.25 points, or 5.76%, at 8,088.34. For the week, the index declined 3.84%. ** Among index heavyweights, chipmaker Samsung Electronics KRX:005930 rose 8.22% following media reports that Anthropic PBC is in talks with Samsung Electronics to be a manufacturing partner for a custom AI chip.
** Shares of SK Hynix KRX:000660 gained 10.88% and battery maker LG Energy Solution KRX:373220 climbed 2.40%. ** Hyundai Motor KRX:005380 and sister automaker Kia Corp KRX:000270 were up 2.07% and 4.68%, respectively. Steelmaker POSCO Holdings KRX:005490 added 0.79%, while drugmaker Samsung BioLogics KRX:207940 rose 1.07%.
** South Korean conglomerates SK Group, Hyundai Motor Group KRX:005380 and Hanwha KRX:000880 on Friday unveiled investment initiatives spanning robotics, manufacturing AI, self-driving mobility and space projects for the country's southeast. ** Of the total 913 traded issues, 589 shares advanced, while 297 declined. ** Foreigners were net sellers of shares worth 2,212.3 billion won. ** The won was quoted at 1,531.5 per dollar on the onshore settlement platform FX_IDC:USDKRW, 0.56% higher than its previous close at 1,540.0. ** The KOSPI has risen 91.93% so far this year. ** The won has weakened 6.0% against the dollar so far this year. ** In money and debt markets, September futures on three-year treasury bonds (KTBc1) gained 0.03 point to 103.06. ** The most liquid three-year Korean treasury bond yield (KR3YT=RR) rose 0.5 basis points to 3.752%, while the benchmark 10-year yield TVC:KR10 rose 1.1 basis points to 4.191%.