March 25, 2020 / 3:19 AM / 14 days ago

S.Korean shares jump over 4% on stimulus hopes; won strengthens

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

    SEOUL, March 25 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korean shares rose more than 4% on Wednesday, following
Wall Street's big gains, on global and domestic policy measures
to ease dollar funding conditions and stabilise markets hammered
by the coronavirus outbreak. The won strengthened, while the
benchmark bond yield fell.
    
** The Seoul stock market's benchmark KOSPI         rose 70.88
points, or 4.40%, to 1,680.85 by 0201 GMT.
    
** The South Korean government on Wednesday said it will further
loosen key capital flow rules temporarily to encourage local
financial institutions to supply more dollars.             
    
** South Korea's central bank plans to inject dollars into local
financial markets this week using a currency swap with the U.S.
Federal Reserve to help ease a growing dollar shortage in
onshore markets, a senior bank official said.             
    
** South Korea reported 100 new coronavirus cases on Wednesday,
bringing its total infections to 9,137.             
    
** Shares of coronavirus test kit makers surged on hopes for
fast-track approval from the U.S. Food and Drug Administration
after President Donald Trump asked South Korea for medical
equipment.             
    
** Equities are gaining on hopes for the U.S. stimulus package
and South Korean government's pledge to stabilise markets and
inject dollar liquidity to ease credit risk concerns, said Seo
Sang-young, an analyst at Kiwoom Investment & Securities.
    
** Wall Street finished firmer on Tuesday after U.S. lawmakers
said they were close to a deal for a $2 trillion economic rescue
package in response to the pandemic.             
    
** The rally, however, may be temporary as economic activity is
not recovering yet, he added.
    
** Foreigners were net sellers of 140.3 billion won ($114.19
million) worth of shares on the main board.
    
** The won was quoted at 1,229.4 per dollar on the onshore
settlement platform           , 1.64% higher than its previous
close at 1,249.6.
    
** In offshore trading, the won        was quoted at 1,229.5 per
U.S. dollar, up 0.3% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,225.4 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 3.11%. Japanese stocks         rose
5.60%.
    
** The trading volume during the session in the KOSPI index
        was 410.91 million shares. Of the total traded issues of
902, the number of advancing shares was 858.
    
** In money and debt markets, June futures on three-year
treasury bonds         rose 0.15 points to 111.09.
    
** The most liquid 3-year Korean treasury bond yield fell by 1.9
basis points to 1.105%, while the benchmark 10-year yield fell
by 4.9 basis points to 1.652%.
    


($1 = 1,228.6600 won)

 (Reporting by Jihoon Lee; Editing by Aditya Soni)
  
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