July 21, 2020 / 7:07 AM / 20 days ago

S.Korean shares strengthen on vaccine hopes, EU stimulus deal

* KOSPI jumps nearly 1.5%, foreigners net buyers

* KRW strengthens against USD

* S.Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, July 21 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose nearly 1.5% on Tuesday as investors cheered promising data from trials of three potential COVID-19 vaccines and the EU stimulus deal. The Korean won and the benchmark bond yield both rose.

** The benchmark KOSPI closed 30.63 points, or 1.39%, higher at 2,228.83.

** Early data from trials of three potential COVID-19 vaccines released on Monday, including a closely-watched candidate from Oxford University, increased confidence that a vaccine could train the immune system to recognise and fight the novel coronavirus without serious side effects.

** European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting after a fractious summit that went through the night and into its fifth day.

** Meanwhile, South Korea’s economy likely saw its biggest contraction in over 20 years in the second quarter, a Reuters poll showed, as the pandemic hit consumer spending, the labour market, and global demand for its exports. The preliminary data will be released early on Thursday.

** Foreigners bought net 442.4 billion won ($369.39 million) worth of shares on the main board, their largest since Feb. 5.

** The won ended trading at 1,197.8 per dollar on the onshore settlement platform, 0.45% higher than its previous close at 1,203.2.

** In offshore trading, the won was quoted at 1,197.7 per dollar, up 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,197.4.

** In money and debt markets, September futures on three-year treasury bonds fell 0.05 point to 112.14.

** The most liquid 3-year Korean treasury bond yield rose by 1.6 basis points to 0.818% in late afternoon trade, while the benchmark 10-year yield rose by 2.0 basis points to 1.354%.

$1 = 1,197.6600 won Reporting by Joori Roh; Editing by Subhranshu Sahu

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