Friday, 25 Sep 2020

S.Korea stocks hit over 2-year high on upbeat China data, Hyundai Motor

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

    SEOUL, Aug 10 (Reuters) - Round-up of South Korean financial
    ** South Korean shares scaled an over two-year peak on
Monday, driven by strong Chinese factory data and as Hyundai
Motor surged after unveiling plans to create a line of
Ioniq-brand electric vehicles, although rising Sino-U.S.
tensions capped gains. The won weakened, while the benchmark
bond yield rose.
    ** By 0240 GMT, the benchmark KOSPI         was up 20.06
points, or 0.85%, at 2,371.73. The index rose as much 0.97% in
early trade to its highest level since late June 2018.
    ** China's factory deflation eased in July, driven by a rise
in global oil prices and as industrial activity climbed back
towards pre-coronavirus levels, adding to signs of recovery in
the world's second-largest economy.             
    ** U.S. President Donald Trump signed a series of executive
orders on Saturday to extend unemployment benefits after talks
with Congress broke down.                          
    ** Shares of South Korea's largest automarker, Hyundai Motor
Co            , jumped as much as 12.9% on Monday to their
highest since late January 2018.                          
    ** Shares of SK Biopharmaceuticals Co Ltd             surge
as much as 7.3% to a two-week high after the Korea Stock
Exchange said it plans to include company in the blue-chip index
starting Sept. 11.             
    ** Foreigners were net sellers of 88.4 billion won ($74.46
million) worth of shares on the main board.
    ** The won was quoted at 1,187.3 per dollar on the onshore
settlement platform           , 0.22% lower than its previous
close at 1,184.7.
    ** In offshore trading, the won        was quoted at 1,187.4
per dollar, up 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,186.7.
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was down 0.06%.
    ** The trading volume during the session in the KOSPI index
        was 398.99 million shares. Of the total traded issues of
903, the number of advancing shares was 426.
    ** In money and debt markets, September futures on
three-year treasury bonds         fell 0.04 points to 112.19.
    ** The most liquid 3-year Korean treasury bond yield rose by
1.5 basis points to 0.825%, while the benchmark 10-year yield
rose by 3.4 basis points to 1.353%.

($1 = 1,187.2300 won)

 (Reporting by Joori Roh; Editing by Aditya Soni)

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