May 20, 2020 / 3:17 AM / in 8 days

S.Korean shares rise on support measures for corporate debt market

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

    SEOUL, May 20 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares reversed earlier losses to rise on
Wednesday as the government rolled out more measures to
stabilise corporate debt markets hammered by the coronavirus
pandemic. The Korean won weakened, while the benchmark bond
yield fell.
    
    ** The Seoul stock market's main KOSPI         rose 6.70
points, or 0.34%, to 1,987.31 as of 0224 GMT. 
    
    ** South Korea said the government and the central bank
would set up a 10 trillion won special purpose vehicle (SPV) to
directly purchase commercial paper, to calm a local debt market
hit by the coronavirus pandemic.             
    
    ** Stock prices reversed earlier losses after foreigners
ramped up their purchases, with IT-related stocks being bought
most, said Lee Kyoung-min, an analyst at Daeshin Securities.
    
    ** Foreigners were net buyers of 22.1 billion won ($18.00
million) worth of shares on the main board. 
    
    ** Shares of SK Holdings Co Ltd             rose more than
7% as its affiliate SK Biopharmaceuticals filed a listing
application.             
    
    ** The won was quoted at 1,226.6 per dollar on the onshore
settlement platform           , 0.11% lower than its previous
close at 1,225.3.
    
    ** In offshore trading, the won        was quoted at 1,227.2
per dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,227.0. 
    
    ** In money and debt markets, June futures on three-year
treasury bonds         rose 0.04 points to 112.09.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
1.7 basis points to 0.859%, while the benchmark 10-year yield
fell by 2.5 basis points to 1.366%.

($1 = 1,227.5400 won)

 (Reporting by Jihoon Lee; Editing by Devika Syamnath)
  
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