April 28, 2020 / 3:12 AM / a month ago

S.Korean shares drop as fears of pandemic fallout mount

    * KOSPI falls, foreigners net sellers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, April 28 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korean shares fell on Tuesday as Wall Street gains were
offset by heightened concerns the coronavirus crisis will wreck
more havoc on Asia's fourth-largest economy in the next quarter.
The Korean won weakened, while the benchmark bond yield rose.
    
** The Seoul stock market's main KOSPI         was down 4.24
points, or 0.22%, at 1,918.53, as of 0209 GMT. The index has
fallen 12.70% so far this year.
    
** Foreigners were net sellers of 106.7 billion won ($86.98
million) worth of shares on the main board. 
    
** From Italy to New Zealand, governments announced the easing
of restrictions, while Britain said it was too early to relax
them there. Meanwhile, New York state will not reopen for weeks.
                          
    
** South Korea President Moon Jae-in said on Tuesday the
pandemic will have a greater impact on the economy and that
massive job losses are his primary concern.             
    
** The country reported 14 new coronavirus cases on Tuesday,
bringing the national tally to 10,752.
    
** The nation's exports were seen contracting at the sharpest
pace in nearly 11 years in April as the coronavirus pandemic
caused massive disruptions to global supply chains and economic
activity, a poll showed on Tuesday.                
   
** Meanwhile, U.S. President Donald Trump said on Monday he has
a good idea how Kim Jong Un is doing and hopes he is fine, after
days of speculation over the North Korean leader's health. 
            
    
** The won was quoted at 1,227.3 per dollar on the onshore
settlement platform           , 0.09% lower than its previous
close at 1,226.2.
    
** In offshore trading, the won        was quoted at 1,226.7 per
dollar, down 0.4% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,226.1.
    
** The trading volume during the session in the KOSPI index
        was 644.95 million shares. Of the total traded issues of
897, the number of advancing shares was 348.
    
** The won lost 5.8% against the dollar so far this year.
    
** In money and debt markets, June futures on three-year
treasury bonds         was unchanged at 111.51.
    
** The most liquid 3-year Korean treasury bond yield rose by 1.1
basis points to 1.036%, while the benchmark 10-year yield
climbed 1.6 basis points to 1.590%.

($1 = 1,226.6900 won)

 (Reporting by Jihoon Lee, Editing by Sherry Jacob-Phillips)
  
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