March 5, 2020 / 7:27 AM / a month ago

S.Korean stocks end higher for fourth day on global stimulus measures

* KOSPI gains for fourth day, foreigners sell

* KRW gains against USD

* S.Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, March 5 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares closed higher for a fourth straight session on Thursday, helped by global stimulus efforts to cushion the economic impact from the coronavirus. The won firmed and the benchmark bond yield rose.

** The KOSPI ended 25.93 points higher, or 1.26%, at 2,085.26.

** The gains in KOSPI were driven by (news of) emergency funding from IMF, World Bank and the U.S. House of Representatives, as well as global monetary easing, Kiwoom Securities analyst Seo Sang-young said.

** But rising infections in the United States remain a risk and markets would continue to be volatile through March, Seo added.

** South Korea reported 438 new cases, raising the national tally to 5,766. The death toll rose to 35. However, new infections were seen slowing, raising hopes that the peak of the epidemic may be over.

** Aiding sentiment was an overnight surge on the Wall Street, helped by robust U.S. data and Joe Biden’s strong showing in the Democratic presidential primaries.

** South Korea’s central bank said on Wednesday the Fed’s emergency cut gives it more policy room to manoeuvre.

** JPMorgan now sees South Korea’s central bank cutting rates in March, “possibly through an inter-meeting action,” with another cut in the third quarter on a close call, Park Seok-gil, executive director of Asia economic research, said in a report.

** Foreign investors sold net 128.1 billion won ($108.49 million) worth of shares on the main board.

** The won was quoted at 1,181.2 per dollar on the onshore settlement platform, strengthening 0.56% from its previous close at 1,187.8 and the highest close in three weeks.

** In offshore trading, the won was quoted at 1,181.2 per U.S. dollar, up 0.3% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,180.3 per dollar.

** The trading volume was 659.95 million shares. Of the total traded issues of 904, the number of advancing shares was 710.

** The KOSPI has fallen 5.11% so far this year, but the won has lost 2.1% against the dollar.

** In money and debt markets, March futures on three-year treasury bonds fell 0.12 points to 111.61, while the 3-month Certificate of Deposit rate was quoted at 1.40% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield rose by 1.6 basis points to 1.044% in late afternoon trade, while the benchmark 10-year yield rose by 2.7 basis points to 1.327%.

$1 = 1,180.7700 won Reporting by Joori Roh; editing by Uttaresh.V

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