FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The South Korean government bonds slumped Tuesday after recent data showed that the country’s third-quarter gross domestic product (GDP) rose higher than market expectations despite crapping of Samsung Electronic Co Ltd’s Galaxy Note 7 and Hyundai Motor’s strikes.
The 10-year bonds yield, which moves inversely to its price, rose 3 basis points to 1.638 percent and short-term 3-year bonds yield climbed 1-1/2 basis points to 1.398 percent.
South Korea’s GDP expanded by 2.7 percent y/y in the third-quarter of 2016 after climbing 3.3 percent y/y in the second quarter; estimates were for 2.6 percent y/y. In quarterly terms, GDP expanded by 0.7 percent q/q in the third-quarter after gaining 0.8 percent q/q in the previous quarter; estimates were for 0.6 percent rise.
Samsung recalled 2.5 million Note 7 smartphones in September 2016 after a number of the units spontaneously burst into flame. Faulty batteries were blamed at first, and Samsung issued replacement phones that it claimed were safe. However, the new phones suffered the same problem, and Samsung asked consumers to switch off Note 7s on 11 October. All production and sales of Note 7 handsets have been stopped, and the model has been withdrawn, said Fitch rating in its report.
Meanwhile, The Korea Composite Stock Price Index (KOSPI) ended 0.52 percent lower at 2,037.17 points.
