March 24, 2020 / 3:53 AM / 17 days ago

S.Korea shares bounce back from plunge, triggering sidecar limits

    * KOSPI surges, triggering sidecar limits
Korean won strengthens versus U.S. dollar
South Korea benchmark bond yield falls

    SEOUL, March 24 (Reuters) - Round-up of South Korean
financial markets: 
    
** South Korean shares rebounded sharply to surge more than 6%
on Tuesday, triggering sidecar limits on the main indexes after
extraordinary new support measures from the U.S. Federal Reserve
bolstered investor sentiment. 

** The Korean won strengthened, while the benchmark bond yield
fell. 
    
** As of 02:13 GMT, the Seoul stock market's main KOSPI index
        rose 93.79 points, or 6.33%, to 1,576.25. It closed
5.11% lower at 1,486.05 the day before.
    
** The Korea Exchange said sidecars were triggered on the
benchmark KOSPI and the junior KOSDAQ         to halt programme
trading for 5 minutes after shares jumped more than 5% each for
over a minute.             
    
** The U.S. Federal Reserve said on Monday it would backstop an
unprecedented range of credit for households, small businesses
and major employers to offset the tremendous hardship caused by
the coronavirus.             
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
                jumped 3.97%, while Japanese stocks         rose
6.37%. 
    
** Meanwhile, South Korean President Moon Jae-in said the
government will double a planned rescue package to contain
mounting economic and financial fallout from the coronavirus to
100 trillion won.             
    
** The won was quoted at 1,257.1 per dollar on the onshore
settlement platform           , 0.75% higher than its previous
close at 1,266.5. 
    
** In offshore trading, the won        was quoted at 1,257.8 per
U.S. dollar, up 1.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,253.3 per dollar. 
    
** The won has lost 8.0% against the dollar so far this year.
    
** The KOSPI has fallen 28.28% so far this year, and lost 32.6%
in the previous 30 trading sessions.
    
** The trading volume during the session in the KOSPI index
        was 331.93 million shares. Of the total traded issues of
902, the number of advancing shares was 854.
    
** In money and debt markets, June futures on three-year
treasury bonds         rose 0.24 points to 111.02.
    
** The most liquid 3-year Korean treasury bond yield fell by 4.4
basis points to 1.105%, while the benchmark 10-year yield fell
by 4.7 basis points to 1.662%.
    

 (Reporting by Jihoon Lee; Editing by Devika Syamnath)
  
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