July 8, 2020 / 7:42 AM / a month ago

S.Korean shares end lower as surging virus cases hit risk appetite

* KOSPI falls, foreigners net sellers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, July 8 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell on Wednesday due to subdued risk appetite, as surging coronavirus cases in the United States and around the world dented hopes of a quicker global economic recovery. The won gained, while the benchmark bond yield fell.

** The Seoul stock market’s main KOSPI closed down 5.29 points, or 0.24%, at 2,158.88.

** The number of confirmed coronavirus cases in the United States pushed past 3 million on Tuesday, according to a Reuters tally, roughly equal to the population of Nevada, stoking fears that hospitals will be overwhelmed.

** A surge in infections that threatens to pinch consumer spending and job gains just as some stimulus programs are due to expire has U.S. Federal Reserve policymakers worried, with at least one pledging more support from the central bank.

** Meanwhile, South Korea reported 63 new coronavirus cases on Wednesday, bringing the national tally to 13,244.

** Stocks fell on worries of a coronavirus second wave, said DS Investment & Securities Na Jeong-hwan, adding that there seems little attraction for offshore investors to come back amid ongoing second wave risks.

** Foreigners were net sellers of 343.9 billion won ($287.76 million) worth of shares on the main board.

** The won closed trading at 1,195.5 per dollar on the onshore settlement platform, 0.02% higher than its previous close at 1,195.7.

** In offshore trading, the won was quoted up 0.1% at 1,195.9 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,195.8.

** In money and debt markets, September futures on three-year treasury bonds rose 0.02 point to 112.09.

** The most liquid 3-year Korean treasury bond yield fell by 0.4 basis point to 0.839%, while the benchmark 10-year yield fell by 0.9 basis point to 1.378%. ($1 = 1,195.1100 won) (Reporting by Jihoon Lee; Editing by Rashmi Aich)

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