July 1, 2020 / 3:06 AM / 11 days ago

S.Korean shares gain 1% as stimulus hopes offset bleak domestic data

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

    SEOUL, July 1 (Reuters) - Round-up of South Korean financial
markets:

    ** South Korean shares rose 1% on Wednesday as investors
shrugged off lacklustre data on domestic exports and
manufacturing activity and pinned hopes on additional stimulus
support. The Korean won and the benchmark bond yield rose.
    
    ** The Seoul stock market's main KOSPI         rose 20.54
points, or 0.97%, to 2,128.87 by 0225 GMT. 
    
    ** Up to $140 billion in loans for small business could be
refocused to support restaurants, hotels and other industries
hit hardest by the COVID-19 pandemic, U.S. Treasury Secretary
Steven Mnuchin said on Tuesday.             
    
    ** South Korean exports slumped more than expected in June,
extending the double-digit contraction into a third month, as
the pandemic and lockdown measures continued to dent global
demand.             
    
    ** The country's manufacturing activity extended declines in
June as the coronavirus impact on global demand protracted,
while uncertainty over the future development and economic
recovery further weighed on business outlook.             
    
    ** Investors took a positive note from the exports data that
it shrank at a slower pace and showed an upward trend, said Seo
Jung-hun, an analyst at Samsung Securities. 
    
    ** Foreigners were net sellers of 22.5 billion won ($18.74
million) worth of shares on the main board. 
    
    ** The won was quoted 0.35% higher at 1,198.8 per dollar on
the onshore settlement platform           .
    
    ** In offshore trading, the won        was quoted down 0.1%
at 1,200.1 per dollar, while in non-deliverable forward trading
its one-month contract               was quoted at 1,200.0.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         rose 0.06 point to 112.10.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
0.8 basis point to 0.832%, while the benchmark 10-year yield
rose by 0.9 basis point to 1.378%.

    ($1 = 1,200.3400 won)

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