South Korean shares gain as central bank upgrades 2025 growth outlook

KOSPI rises, foreigners net buyers

Korean won strengthens against dollar

South Korea benchmark bond yield falls

SEOUL, - Round-up of South Korean financial markets:

** South Korean shares traded slightly higher on Thursday, as the country's central bank held interest rates steady and slightly raised its economic growth outlook for the year. The won firmed, while the benchmark bond yield fell.

** The blue-chip KOSPI gained 11.08 points, or 0.35%, to 3,198.24 as of 0100 GMT.

** The Bank of Korea kept its policy rate unchanged, as expected, to curb a rapid buildup of mortgage debt while monitoring the impact of the government stimulus policies.

** The central bank raised its economic growth projection for 2025 from 0.8% to 0.9% - still the weakest since 2020.

** Among index heavyweights, chipmaker Samsung Electronics fell 0.57%, while peer SK Hynix gained 0.38%. Battery maker LG Energy Solution lost 1.20%.

** Hyundai Motor and sister automaker Kia gained 1.36% and 2.90%, respectively. Steelmaker POSCO Holdings shed 0.68%, while drugmaker Samsung BioLogics was flat.

** Of the total 924 traded issues, 477 advanced and 368 declined.

** Foreigners were net buyers of shares worth 54.6 billion won .

** The won was quoted at 1,390.6 per dollar on the onshore settlement platform, 0.26% higher than Wednesday's close of 1,394.2.

** In the money and debt markets, September futures on three-year treasury bonds gained 0.05 point to 107.49.

** The most liquid three-year Korean treasury bond yield fell 1.5 basis points to 2.385%, while the benchmark 10-year yield fell 2.2 basis points to 2.803%.

This article was generated from an automated news agency feed without modifications to text.

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