Wednesday, 28 Oct 2020

S.Korea stocks flat as virus woes, Sino-U.S. tensions offset stimulus hopes

    * KOSPI flat, foreigners net buyers
    * KRW falls against USD
    * S.Korea benchmark bond yield falls

    SEOUL, July 24 (Reuters) - Round-up of South Korean
financial markets:
    ** South Korean shares were nearly unchanged on Friday as
worries over the coronavirus fallout and U.S.-China tensions
overshadowed U.S. stimulus hopes. The Korean won and the
benchmark bond yield both weakened.
    ** As of 0216 GMT, the benchmark KOSPI         rose 0.28
points, or 0.01%, to 2,216.47.
    ** U.S. Senate Republicans will unveil their proposal next
week for a fresh round of coronavirus aid, including more direct
payments to Americans and a partial extension of enhanced
unemployment benefits.             
    ** The number of Americans filing for unemployment benefits
unexpectedly rose last week for the first time in nearly four
months, suggesting the labour market was stalling.             
    ** Meanwhile, China said the U.S. move to close its Houston
consulate this week had "severely harmed" relations and warned
it "must" retaliate, without detailing what it would do.
    ** Foreigners were net buyers of 83.3 billion won ($69.41
million) worth of shares on the main board.
    ** The won was quoted at 1,199.7 per dollar on the onshore
settlement platform           , 0.20% lower than its previous
close at 1,197.3.
    ** In offshore trading, the won        was quoted at 1,199.9
per dollar, up 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,199.2.
    ** The trading volume during the session in the KOSPI index
        was 422.34 million shares. Of the total 900 traded
issues, 334 advanced.
    ** In money and debt markets, September futures on
three-year treasury bonds         rose 0.02 points to 112.25.
    ** The most liquid 3-year Korean treasury bond yield fell
0.5 basis points to 0.792%, while the benchmark 10-year yield
fell by 2.1 basis points to 1.296%.

    ($1 = 1,200.1900 won)

 (Reporting by Joori Roh;
Editing by Vinay Dwivedi)

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