June 11, 2020 / 7:36 AM / a month ago

S.Korea shares snap nine-day winning streak on Fed caution

* KOSPI falls, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, June 11 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Thursday after nine straight sessions of gains, as a sober economic outlook from the U.S. Federal Reserve outweighed optimism over trade data that suggested a recovery in global demand. ** As of 06:30 GMT, the Seoul stock market’s main KOSPI fell 18.91 points, or 0.86%, to 2,176.78.

** “Comments out of the Federal Open Market Committee meeting weren’t entirely pessimistic but it quelled expectations of further gains and some were seen profit-taking,” said Na Jeong-hwan, an analyst at DS Investment & Securities.

** South Korea’s exports for the first 10 days of June soared 20.2% from the same period a year earlier, raising hopes for a firm recovery in shipments for the trade-reliant economy as many countries lift stringent coronavirus lockdown measures.

** The Fed projected the U.S. economy to shrink 6.5% in 2020 and the unemployment rate to be 9.3% at year’s end.

** Latin America’s coronavirus crisis reached a grim new milestone on Wednesday with total deaths exceeding 70,000, according to a Reuters count, as Mexico hit a daily record for confirmed infections. ** Foreigners were net sellers of 116.1 billion won worth of shares on the main board. ** The won was quoted at 1,196.4 per dollar on the onshore settlement platform, 0.43% lower than its previous close at 1,191.2. ** In offshore trading, the won was quoted at 1,197.0 per U.S. dollar, down 0.5% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,196.6 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.66%, after Dow Jones Industrial Average fell 1.04%. Japanese stocks fell 2.82%. ** The KOSPI has fallen 0.95% so far this year, but gained 16.2% in the previous 30 trading sessions. ** The trading volume during the session in the KOSPI index was 813.82 million shares. Of the total traded issues of 902, the number of advancing shares was 218. ** The won has lost 3.3% against the dollar so far this year. ** The most liquid 3-year Korean treasury bond yield fell by 0.3 basis points to 0.837% in late afternoon trade, while the benchmark 10-year yield fell by 1.6 basis points to 1.381%. (Reporting by Cynthia Kim; Additional reporting by Jihoon Lee; Editing by Subhranshu Sahu)

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