S.Korea shares end flat as virus fears offset optimism of EU deal, U.S. stimulus hopes
* KOSPI falls, foreigners net sellers
* KRW gains against USD
* S.Korea benchmark bond yield falls
* For the midday report, please click
SEOUL, July 22 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares ended nearly unchanged on Wednesday as U.S. President Donald Trump’s comment on the coronavirus crisis escalated worries over surging cases, countering optimism around the European Union’s recovery fund and U.S. stimulus talks. The won rose, while the benchmark bond yield fell.
** The benchmark KOSPI fell 0.17 points, or 0.01%, to 2,228.66.
** Trump in his first White House briefing focused on the pandemic in months warned that the virus would probably get worse before it gets better.
** Meanwhile, White House officials and top congressional Democrats discussed another round of coronavirus relief that would include extended unemployment insurance and more money for schools.
** On Tuesday, the European Union leaders clinched a “historic” deal on a 750 billion euro ($865.43 billion) stimulus plan for their coronavirus-throttled economies.
** Foreigners were net sellers of 103.0 billion won ($86.26 million) worth of shares on the main board.
** The won closed trading at 1,195.3 per dollar on the onshore settlement platform, 0.21% higher than its previous close at 1,197.8.
** In offshore trading, the won was quoted at 1,194.1 per dollar, unchanged from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,193.5.
** The trading volume during the session in the KOSPI index was 839.44 million shares. Of the total traded issues of 900, the number of advancing shares was 423.
** In money and debt markets, September futures on three-year treasury bonds rose 0.06 points to 112.20, while the 3-month Certificate of Deposit rate was quoted at 0.79% in late afternoon trade.
** The most liquid 3-year Korean treasury bond yield fell by 0.8 basis points to 0.810% in late afternoon trade, while the benchmark 10-year yield fell by 1.1 basis points to 1.345%. ($1 = 1,194.0300 won) ($1 = 0.8666 euros) (Reporting by Joori Roh; Editing by Rashmi Aich)
Source: Read Full Article