Round-up of South Korean financial markets: ** South Korean shares rose on Friday with shipbuilders leading the gains ahead of President Lee Jae Myung’s first summit with U.S. President Donald Trump on Monday in Washington, where discussions tied to shipbuilding cooperation are expected. The won strengthened, while the benchmark bond yield rose. ** The benchmark KOSPI KOSPI was up 26.59 points, or 0.85%, at 3,168.33 as of 02:47 GMT. For the week, the index is down 1.85% as rate-cut outlook dimmed in the U.S., leading to declines in global equity markets.

** HD Hyundai Shipbuilding 009540 and HD Korea Shipbuilding 009540 are up 2.25%, while Samsung Heavy Industries 010140 gained 1.2%

** South Korea-U.S. shipbuilding partnership worth about $150 billion will be led by South Korean shipbuilders to rebuild the U.S. shipbuilding industry.

** U.S. Federal Reserve officials on Thursday appeared lukewarm to the idea of an interest rate cut next month, as investors geared up for U.S. central bank chief Jerome Powell’s speech at the annual Jackson Hole conference in Wyoming. ** Among index heavyweights, chipmaker Samsung Electronics 005930 rose 1.13%, while peer SK Hynix 000660 gained 1.73%. Battery maker LG Energy Solution 373220 slid 1.61%. ** Hyundai Motor 005380 and sister automaker Kia Corp 000270 were unchanged and up 1.35%, respectively. Steelmaker POSCO Holdings 005490 shed 0.17%, while drugmaker Samsung BioLogics 207940 rose 1.77%. ** Of the total 933 traded issues, 438 shares advanced, while 430 declined. ** Foreigners were net buyers of shares worth 187.1 billion won. ** The KOSPI has risen 32.04% so far this year. ** The won has strengthened 5.3% against the dollar so far this year. ** In money and debt markets, September futures on three-year treasury bonds (KTBc1) lost 0.03 point to 107.29. ** The most liquid three-year Korean treasury bond yield (KR3YT=RR) rose by 1.3 basis points to 2.448%, while the benchmark 10-year yield KR10 rose by 0.1 basis points to 2.853%.
Source: Reuters