July 8, 2020 / 2:41 AM / a month ago

S.Korean shares fall as global virus cases surge

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

    SEOUL, July 8 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares fell on Wednesday as a surge in
global coronavirus infections dented risk appetite. The Korean
won weakened, while the benchmark bond yield rose.
    
    ** The Seoul stock market's main KOSPI index         fell
6.72 points, or 0.31%, to 2,157.45 as of 0158 GMT.
    
    ** Sentiment weakened on worries of a second wave of cases
and the possibility of reintroducing lockdown measures in some
countries, said Samsung Securities' analyst Seo Jung-hun, adding
that investors are taking a wait-and-see stance amid the
domestic corporate earnings season. 
    
    ** The number of confirmed coronavirus cases in the United
States pushed past 3 million on Tuesday, according to a Reuters
tally, roughly equal to the population of Nevada, stoking fears
that hospitals would be overwhelmed.             
    
    ** A surge in infections that threatens to pinch consumer
spending and job gains just as some stimulus programs are due to
expire has U.S. Federal Reserve policymakers worried, with at
least one pledging more support from the central bank.
            
    
    ** Meanwhile, South Korea reported 63 new coronavirus cases
on Wednesday, bringing the national tally to 13,244.
    
    ** Foreigners were net sellers of 149.0 billion won ($124.50
million) worth of shares on the main board. 
    
    ** The won was quoted 0.12% lower at 1,197.1 per dollar on
the onshore settlement platform           .
    
    ** In offshore trading, the won        was quoted flat at
1,196.9 per dollar, while in non-deliverable forward trading its
one-month contract               was quoted at 1,196.3.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         fell 0.01 point to 112.06.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
0.3 basis point to 0.846%, while the benchmark 10-year yield
rose by 0.6 basis point to 1.393%.

($1 = 1,196.8100 won)

 (Reporting by Jihoon Lee; Editing by Devika Syamnath)
  
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