July 9, 2020 / 2:33 AM / a month ago

S.Korean shares gain on rebound hopes despite spike in virus cases

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

    SEOUL, July 9 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares rose on Thursday as investors cheered
signs of an economic recovery from the lockdown even as COVID-19
cases in the United States surpassed 3 million. The Korean won
strengthened, while the benchmark bond yield rose.
    
    ** The Seoul stock market's main KOSPI         was up 10.19
points, or 0.47%, at 2,169.07, as of 0202 GMT. 
    
    ** Another nationwide shutdown to fight the novel
coronavirus pandemic would be "a big mistake," White House
economic adviser Larry Kudlow told CNBC in an interview on
Wednesday as some states rolled back their re-openings amid a
surge in cases.             
    
    ** The United States reported more than 60,000 fresh
COVID-19 cases on Wednesday, the biggest increase ever reported
by a country in a single day, according to a Reuters tally.
            
    
    ** South Korea reported 50 new coronavirus cases on
Wednesday, bringing the national tally to 13,293.
    
    ** Stocks tracked overnight gains on the Wall Street, while
the bull run in the Chinese market also helped the index
maintain its solid rise, said Seo Sang-young, an analyst at
Kiwoom Securities.
    
    ** Foreigners were net sellers of 75.7 billion won ($63.41
million) worth of shares on the main board. 
    
    ** The won was quoted at 1,193.8 per dollar on the onshore
settlement platform           , 0.14% higher than its previous
close at 1,195.5.
    
    ** In offshore trading, the won        was quoted at 1,194.0
per dollar, down 0.2% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,193.1.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         fell 0.02 point to 112.07.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
0.5 basis point to 0.844%, while the benchmark 10-year yield
rose by 0.8 basis point to 1.386%.

    ($1 = 1,193.7300 won)

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