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(Seoul=Yonhap Infomax) Hye Rim Pi – South Korean government bond futures opened higher on the morning of the 21st, reflecting overnight strength in US Treasuries following a sharp decline in US equities.
According to the Seoul bond market, as of 09:08 KST, the three-year government bond futures contract was up 14 ticks at 105.91. Foreign investors were net buyers of 2,970 contracts, while banks were net sellers of 1,695 contracts.
The 10-year government bond futures rose 43 ticks to 114.21. Foreign investors purchased 663 contracts, while securities firms sold 475 contracts.
A dealer at a securities firm commented, "US Treasuries rallied overnight, with the impact attributed more to the equity market correction than to employment data. The domestic bond market is responding in tandem, and equity market trends are expected to remain the key driver."
On the previous trading day, the yield on the US two-year Treasury fell 5.9 basis points to 3.5350%, while the 10-year yield dropped 5.3 basis points to 4.0860%.
The Nasdaq slid more than 2%, as risk appetite for equities in New York was sharply dampened by renewed concerns over an artificial intelligence (AI) bubble.
phl@yna.co.kr
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