Korea said Thursday it has sold about $1.3 billion of foreign exchange stabilization bonds at the second-lowest ever rates amid solid demand.
Foreigners are shifting from Korean stocks and scrambling to buy up won-denominated bonds due to their high yields.
HMM shares dropped more than 6 percent during intra-day trading on Tuesday following the Monday announcement by Korea Development Bank (KDB) that it would exercise its conversion rights for the company’s convertible bonds.
Stocks retreated Wednesday on the increase in the value of the U.S. currency and the valuation pressure of local stocks. The won rose against the dollar.
LG Chem announced in corporate filing Monday that it will issue 1.2 trillion won ($1.1 billion) of bonds to fund its carbon neutral strategy and new growth drivers such as battery materials.
Corporations are rushing to the bond markets in the new year.
Korean stocks advanced for a second consecutive session Wednesday, as auto and tech stocks continued to rebound. The won rose against the dollar.
The state-run Korea Development Bank (KDB) said Tuesday it has issued $1.5 billion worth of bonds to foreign investors.
Shares plunged to a seven-week low on Thursday as investors turned risk-averse following overnight Wall Street declines over withering hopes for economic recovery. The won fell against the dollar.
Stocks gained Monday for a second consecutive session as investors continued to look for deals despite the resurgence of coronavirus cases nationwide. The won fell against the dollar.