February 26, 2020 / 7:12 AM / a month ago

S.Korean stocks, won fall as virus spread shows no signs of abating

* KOSPI drops 1.3%, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Feb 26 (Reuters) - Round-up of South Korean financial markets:

** South Korean markets shed more than 1% on Wednesday as foreign investors dumped shares after coronavirus infections spread rapidly in the country. The Korean won and the benchmark bond yield also fell.

** The Seoul stock market’s main KOSPI ended down 26.84 points, or 1.28%, at 2,076.77. In early trade, the benchmark index plunged 2.1%, hitting its lowest level since Dec. 5, 2019.

** South Korea reported 169 new coronavirus cases on Wednesday, including a U.S. soldier, pushing the total tally to 1,146, with the numbers expected to rise as the government widens its testing.

** The rise of new virus cases show no signs of abating, weighing down local stocks, said Lee Young-gon, an analyst at Hana Financial Investment.

** Foreigners were net sellers of 886.4 billion won ($728.36 million) worth of KOSPI stocks on Wednesday, the most since June 13, 2013.

** So far this week, they offloaded nearly 2.5 trillion won worth of stocks on the main board, according to bourse data.

** The won was quoted at 1,216.9 per dollar on the onshore settlement platform, 0.54% lower than its previous close at 1,210.3.

** In offshore trading, the won was quoted at 1,216.9 per U.S. dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,216.3 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.26%, after U.S. stocks plunged overnight. Japanese stocks fell 0.79%.

** The KOSPI has fallen 5.5% so far this year and lost 4.7% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 797.62 million shares. Of the total traded issues of 905, the number of advancing shares was 266.

** The won has lost 5.0% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.11 points to 111.30, while the 3-month Certificate of Deposit rate was quoted at 1.41% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield fell by 3.2 basis points to 1.134% in late afternoon trade and the benchmark 10-year yield fell by 3 basis points to 1.393%.

$1 = 1,216.9800 won Reporting by Hayoung Choi; Editing by Amy Caren Daniel

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