May 15, 2020 / 3:09 AM / 20 days ago

S.Korean shares fall as Sino-U.S. tensions outweigh stimulus hopes

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

    SEOUL, May 15 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares fell on Friday as U.S. President Donald
Trump's remarks aggravated trade tensions with China, cancelling
out optimism around plans for more U.S. stimulus to revive the
coronavirus-hit economy. 
    
    ** The Seoul stock market's main KOSPI         fell 4.41
points, or 0.23%, to 1,920.55 as of 0204 GMT. The Korean won
weakened, while the benchmark bond yield rose. 
    
** The South Korean market seems more vulnerable to growing
Sino-U.S. tensions than others, said Seo Sang-young, an analyst
at Kiwoom Securities. China is the biggest buyer of the
export-reliant economy's products.
    
** U.S. President Donald Trump on Thursday said he has no
interest in speaking to China's President Xi Jinping right now
and suggested he could even cut ties with the world's second
largest economy.             
    
** Meanwhile, a White House spokeswoman on Thursday said Trump
is open to negotiations on another possible stimulus bill to
prop up an economy sagging under restrictions imposed to arrest
the COVID-19 outbreak.             
    
** South Korea's finance ministry pledged to introduce more
measures to minimise the employment shock from the pandemic,
saying risks to the economy were intensifying as domestic and
global demand slump.             
    
** South Korea reported 27 new infections on Friday amid the
country's efforts to contain an outbreak centred around bars and
nightclubs in Seoul after weeks of nearly no new domestic cases.
            
    
** South Korea's U.S. crude oil imports in April increased 32.1%
from a year earlier, although overall crude imports fell as some
refiners lowered run rates to cope with a slump in demand,
customs data showed on Friday.             
    
** Foreigners were net sellers of 199.8 billion won ($162.54
million) worth of shares on the main board. 
    
** The won was quoted at 1,228.5 per dollar on the onshore
settlement platform           , 0.04% lower than its previous
close at 1,228.0.
    
** In offshore trading, the won        was quoted at 1,228.8 per
dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,228.3.
    
** In money and debt markets, June futures on three-year
treasury bonds         fell 0.01 point to 112.07.
    
** The most liquid 3-year Korean treasury bond yield rose by 0.1
basis point to 0.872%, while the benchmark 10-year yield rose by
0.5 basis point to 1.387%.
($1 = 1,229.2000 won)

 (Reporting by Jihoon Lee; Editing by Devika Syamnath)
  
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