April 23, 2020 / 7:17 AM / a month ago

S.Korean shares end 1% higher on oil rebound, U.S. stimulus hopes

* KOSPI rises, foreigners net sellers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, April 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares ended nearly 1% higher on Thursday as a rebound in oil prices and hopes of a U.S. stimulus package boosted investor sentiment and overshadowed grim economic data released by the country’s central bank. The Korean won strengthened, while the benchmark bond yield rose.

** The Seoul stock market’s main KOSPI closed up 18.58 points, or 0.98%, to 1,914.73. It has fallen 12.87% so far this year.

** Foreigners were net sellers of 35.2 billion won ($28.66 million) worth of shares on the main board.

** Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world’s economies.

** The U.S. House of Representatives expects to pass a nearly $500 billion coronavirus relief bill on Thursday, which will provide funds to small businesses and hospitals struggling with the economic toll of the pandemic.

** The coronavirus pandemic pushed South Korea’s economy, which reported eight new coronavirus cases on Thursday, into its biggest contraction since 2008 in the first quarter, as self-isolation measures hit consumption and global trade slumped.

** Stock prices extended their gains as U.S. oil prices surged nearly 15% in Asian markets, said Seo Sang-young, an analyst at Kiwoom Securities.

** SK Hynix warned on Thursday that demand for chips will remain volatile, while restrictions on global movement, if prolonged, could disrupt production, sales and product development across the industry. The shares of the chipmaker closed trading 1.55% lower than the previous close.

** South Korea’s Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade as the spreading coronavirus outbreak hit demand for cars worldwide. The shares of the carmaker closed trading 0.22% lower than the previous close.

** The won closed trading at 1,229.7 per dollar on the onshore settlement platform, 0.20% higher than its previous close at 1,232.2.

** In offshore trading, the won was quoted at 1,228.7 per dollar, up 0.4% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,228.1.

** The trading volume during the session in the KOSPI index was 662.09 million shares. Of the total traded issues of 901, the number of advancing shares was 675.

** The won has lost 6.0% against the dollar so far this year.

** In money and debt markets, June futures on three-year treasury bonds rose 0.03 points to 111.49.

** The most liquid 3-year Korean treasury bond yield fell by 0.9 basis points to 1.038%, while the benchmark 10-year yield rose by 1.8 basis points to 1.544%.

$1 = 1,228.3000 won Reporting by Jihoon Lee; Editing by Ramakrishnan M.

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