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South Korean shares surge on US rally, strong GDP

By Reuters News

SEOUL, Oct 27 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares rose more than 4% on Tuesday, led by gains in chipmakers on a rally in US AI stocks and strong economic growth data.

** The benchmark KOSPI .KS11 was up 240.38 points, or 4.39%, at 5,709.85, as of 0153 GMT.

** US stocks closed higher on Monday, with the Philadelphia Semiconductor Index .SOX rising more than 2%, as Anthropic's IPO filing helped boost sentiment in AI-related stocks. .N

** South Korea's economy grew faster than expected in the third quarter as a global AI chip boom boosted exports and investments, advance central bank estimates showed.

** Chipmaker Samsung Electronics 005930.KS rose 5.05%, while peer SK Hynix 000660.KS gained 7.14%.

** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 3.73%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 1.91% and up 1.33%, respectively.

** Steelmaker POSCO Holdings 005490.KS added 3.15%, while drugmaker Samsung BioLogics 207940.KS fell 4.89%.

** Of the total 910 traded issues, 695 shares advanced, while 187 declined.

** Foreigners were net buyers of shares worth 597.3 billion won ($450.57 million).

** The won was quoted at 1,325.0 per dollar on the onshore settlement platform , 0.08% higher than its previous close at 1,326.0.

** In money and debt markets, December futures on three-year treasury bonds were unchanged at 103.25.

** The most liquid three-year Korean treasury bond yield rose by 0.4 basis point to 3.792%, while the benchmark 10-year yield fell by 0.7 basis points to 4.068%.


($1 = 1,325.6500 won)

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