[SEOUL] South Korean shares rose for the ninth straight session on Wednesday on hopes for a quick recovery from the coronavirus-induced economic downturn, though investors maintained a cautious stance ahead of a US Federal Reserve policy decision. Read more at The Business Times.
Investors are waiting for the Fed's remarks on the economic outlook and clues on future measures.
Shares of LG Chem closed up 1.73 per cent as the company said it had signed a conditional contract with China's Ningbo Shanshan to sell most of its liquid crystal display polariser business for US$1.10 billion.The won closed trading 0.55 per cent higher at 1,191.2 per dollar on the onshore settlement platform, its highest close since March 5.
In offshore trading, the won was quoted 0.6 per cent higher at 1,191.6 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,191.3. The most liquid 3-year Korean treasury bond yield was flat at 0.840 per cent, while the benchmark 10-year yield rose by 2.2 basis points to 1.397 per cent.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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