March 3, 2020 / 2:33 AM / a month ago

S.Korea stocks rise over 1% on hopes of global policy easing

    * KOSPI jumps, foreigners sell
    * KRW gains against USD
    * South Korea benchmark bond yield rises

    SEOUL, March 3 (Reuters) - Round-up of South Korean
financial markets:
    ** South Korean shares jumped on Tuesday on hopes that
global central banks will deliver coordinated monetary easing to
mitigate the economic impact from the coronavirus outbreak. The
won and the benchmark bond yield rose. 
    ** By 0227 GMT, the KOSPI         rose 25.54 points, or
1.28%, to 2,028.05.
    ** The country reported 600 new cases, taking total
infections to 4,812. It also said three more people had died,
bringing the total fatalities to 34.             
    ** The European Central Bank joined the chorus of central
banks signalling a readiness to deal with the growing threats
from the outbreak.             
    ** The rout in global stocks last week had already prompted
Fed Chair Jerome Powell and Bank of Japan Governor Haruhiko
Kuroda to flag a readiness to move.             
    ** South Korea is also due to submit an extra budget bill
this week to the parliament. It said last week the size will be
larger than the 11.6 trillion won ($9.75 billion) package spent
during the 2015 MERS outbreak.             
    ** The Bank of Korea last week kept interest rates
unchanged, although markets have already priced in a third cut
under the current easing cycle.             
    ** Foreigners were net sellers of 201.6 billion won worth of
shares on the main board.
    ** The won was quoted at 1,191.6 per dollar on the onshore
settlement platform           , 0.18% higher than its previous
close at 1,193.7.
    ** In offshore trading, the won        was quoted at 1,191.3
per U.S. dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,190.7 per dollar.
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was up 0.90%. The benchmark Shanghai
composite index         soared 1.50%, while Japanese stocks
        rose 0.07%.            
    ** The KOSPI has fallen 7.52% so far this year, and lost
10.9% in the previous 30 trading sessions.
    ** The trading volume during the session in the KOSPI index
        was 316.54 million shares. Of the total traded issues of
905, the number of advancing shares was 697.
    ** The won has lost 2.8% against the dollar so far this
    ** In money and debt markets, March futures on three-year
treasury bonds         fell 0.03 points to 111.35, while the
3-month Certificate of Deposit rate was quoted at 1.41%.
    ** The most liquid 3-year Korean treasury bond yield rose by
0.6 basis points to 1.135%, while the benchmark 10-year yield
rose by 3.8 basis points to 1.409%.
($1 = 1,190.1100 won)

 (Reporting by Joori Roh; editing by Uttaresh.V)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below