March 18, 2020 / 3:05 AM / in 12 days

S.Korea stocks fall as virus fears eclipse global stimulus efforts

    * KOSPI slides, foreigners sell
    * KRW gains against USD
    * S.Korea benchmark bond yield rises

    SEOUL, March 18 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korean shares fell on Wednesday as fears over the rapid
spread of the coronavirus and the damage it has inflicted on the
global economy eclipsed the Trump administration's massive
stimulus package. The won and the benchmark bond yield both
rose.
    
** South Korea's parliament approved late on Tuesday a $9.4
billion supplementary budget to combat the economic fallout from
the virus outbreak.             
    
** The government also announced it will loosen one of its key
foreign exchange rules to encourage banks to supply more dollars
in local markets as the pandemic drives a global rush for the
U.S. currency.             
    
** By 0219 GMT, the benchmark KOSPI         was down 7.62
points, or 0.46%, at 1,664.82. It has fallen 24.25% so far this
year.
    
** "KOSPI opened up as the U.S. stimulus lifted sentiment, but
it reversed early gains after news on more new domestic
infections from a day earlier," said Lee Won, an analyst at
Bookook Securities.
    
** The Trump administration on Tuesday unveiled a $1 trillion
stimulus package that could deliver $1,000 cheques to Americans
within two weeks to buttress an economy hit by the coronavirus.
                        
    
** South Korea reported 93 new virus cases on Wednesday,
slightly up from 84 recorded the day before, as concerns about
new outbreaks around small clusters persisted.             
    
** South Korean President Moon Jae-in said there are high
possibilities that the economic crisis could persist, adding the
government will deploy additional measures to shore up the
economy and stabilise financial markets.
    
** Shares of Samsung Electronics             rose as much as
2.2% after the company said it expected higher demand for
computer chips despite pressure from the pandemic and the
U.S.-China trade war.             
    
** Foreigners were net sellers of 199.1 billion won ($160.82
million) worth of shares on the main board.
    
** The won was quoted at 1,235.5 per dollar on the onshore
settlement platform           , 0.65% higher than its previous
close of 1,243.5.
    
** In offshore trading, the won        was quoted at 1,237.6 per
dollar, up 0.2% from the previous day, while in non-deliverable
forward trading its one-month contract               was quoted
at 1,235.2.
    
** In money and debt markets, June futures on three-year
treasury bonds         fell 0.05 points to 111.44.
    
** The most liquid 3-year Korean treasury bond yield was flat at
1.032%, while the benchmark 10-year yield rose by 1.4 basis
points to 1.456%.

($1 = 1,238.0300 won)

 (Reporting by Joori Roh; Editing by Aditya Soni)
  
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