January 29, 2020 / 7:16 AM / a month ago

S.Korean stocks rise on bargain hunting after Tuesday's sharp drop

* KOSPI recovers, foreigners net buyers

* Korean won almost unchanged vs dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Jan 29 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares gained on Wednesday, as investors picked up beaten-down stocks after the index fell by the most in more than a year in the previous session on fears over the fast-spreading coronavirus. The Korean won was little changed, while the benchmark bond yield fell.

** The death toll from a new coronavirus in China rose sharply to 132 on Wednesday with nearly 1,500 new cases, as Japan said it flew citizens out of Wuhan, the epicentre of the virus.

** The Seoul stock market’s main KOSPI index ended up 8.56 points, or 0.39%, at 2,185.28. It declined 3.1% on Tuesday, its biggest one-day fall since October 2018.

** Investors purchased stocks that suffered excessive falls in the previous session, said Lee Young-gon, an analyst at Hana Financial investment. Still, volatility would remain high due to persisting worries over the virus, he added.

** South Korea’s exports are expected to fall at a faster pace in January, mainly due to fewer working days around the Lunar New Year holiday and amid concerns the new coronavirus may weigh on a fragile economic recovery, a Reuters poll showed.

** Foreigners were net buyers of 50.8 billion won ($43.52 million) worth of shares on the main board, while individual investors posted net buying of 372.4 billion won worth of KOSPI stocks.

** The won was quoted at 1,177.2 per dollar on the onshore settlement platform, 0.04% lower than its previous close at 1,176.7.

** In offshore trading, the won was quoted at 1,177.1 per U.S. dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,176.3 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.57%, after U.S. stocks firmed overnight. Japanese stocks rose 0.71%.

** The KOSPI is down 0.56% so far this year, but gained 3.8% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 681.56 million shares and, of the total traded issues of 908, the number of advancing shares was 516.

** The won has lost 1.8% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.08 points to 110.67, while the 3-month Certificate of Deposit rate was quoted at 1.46% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield fell by 2.0 basis points to 1.333% in late afternoon trade, while the benchmark 10-year yield fell by 1.7 basis points to 1.586%.

$1 = 1,167.2000 won Reporting by Hayoung Choi; Editing by Aditya Soni

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