July 6, 2020 / 2:49 AM / a month ago

S.Korean shares gain over 1% on recovery hopes as COVID-19 cases surge

    * KOSPI rises 1.27%, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, July 6 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares rose more than 1% on Monday, on pace
for a third straight session of gains, as optimism about an
economic rebound and fresh support measures helped counter
concerns over a global surge in coronavirus cases. The Korean
won strengthened, while the benchmark bond yield rose.
    
    ** The Seoul stock market's main KOSPI         rose 27.30
points, or 1.27%, to 2,179.71 as of 0155 GMT. 
    
    ** Stocks extended their gains on upbeat data from the U.S.
and China last week, including better-than-expected U.S.
unemployment data, said DS Investment & Securities' analyst Na
Jeong-hwan. 
    
    ** The U.S. economy created jobs at a record clip in June,
while China's services sector expanded at the fastest pace in
over a decade.                          
    
    ** Rising coronavirus cases in 39 U.S. states cast a shadow
over the nation's Fourth of July celebrations as health experts
worried that holiday parties will cause a further spike in
infections that could overwhelm hospitals.             
    
    ** Meanwhile, South Korea's parliament last Friday approved
a supplementary budget of 35.1 trillion won ($29.33 billion) to
fight the economic fallout from the coronavirus pandemic.
            
    
    ** Foreigners were net sellers of 284.6 billion won ($237.80
million) worth of shares on the main board. 
    
    ** The won was quoted 0.12% higher at 1,197.2 per dollar on
the onshore settlement platform           .
    
    ** In offshore trading, the won        was quoted up 0.2% at
1,196.4 per dollar, while in non-deliverable forward trading its
one-month contract               was quoted at 1,195.5.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         fell 0.03 point to 112.03.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
1.4 basis points to 0.853%, while the benchmark 10-year yield
rose by 2.0 basis points to 1.408%.

($1 = 1,196.8200 won)

 (Reporting by Jihoon Lee; Editing by Sriraj Kalluvila)
  
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