March 25, 2020 / 7:39 AM / 14 days ago

S.Korean shares surge nearly 6% on global stimulus efforts

* KOSPI jumps, foreigners net sellers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield fall

* For the midday report, please click

SEOUL, March 25 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares jumped nearly 6% on Wednesday, a day after they surged the most in more than 11 years, as global stimulus efforts further eased some of the pressure on non-dollar assets battered by the coronavirus pandemic. The won strengthened, while the benchmark bond yield fell.

** The Seoul stock market’s main KOSPI closed up 94.43 points, or 5.87%, at 1,704.40, extending gains into a second day.

** The index rose 8.60% in the previous session, the biggest daily jump since October 2008. Still, it has fallen 22.45% so far this year.

** Risk-averse sentiment towards non-dollar assets eased further as the U.S. stimulus moved closer to passing, although the uncertainty over the coronavirus pandemic and its impact on the economy remain as risks, said Kim Young-hwan, an analyst at KB Investment & Securities.

** U.S. senators and Trump administration officials have reached an agreement on a massive economic stimulus bill to alleviate the economic impact of the coronavirus outbreak, White House official Eric Ueland said early on Wednesday.

** South Korea on Wednesday said it will further loosen key capital flow rules temporarily to encourage local financial institutions to supply more dollars.

** South Korea’s central bank plans to inject dollars into local financial markets this week using a currency swap with the U.S. Federal Reserve to help ease a growing dollar shortage in onshore markets, a senior bank official said.

** Shares of Seegene Inc, a maker of coronavirus test kits, surged 29.9% to a record high, making it the third most valuable company on the junior KOSDAQ market.

** Foreigners were net sellers of 239.5 billion won ($194.64 million) worth of shares on the main board.

** The won ended trading at 1,229.9 per dollar on the onshore settlement platform, 1.60% higher than its previous close at 1,249.6.

** In offshore trading, the won was quoted at 1,228.8 per dollar, up 0.4% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,225.6. ** In money and debt markets, June futures on three-year treasury bonds rose 0.04 points to 110.98.

** The most liquid 3-year Korean treasury bond yield rose by 1.8 basis points to 1.142%, while the benchmark 10-year yield fell by 3.0 basis points to 1.671%.

$1 = 1,230.4600 won Reporting by Jihoon Lee; Editing by Aditya Soni

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