January 23, 2020 / 7:01 AM / a month ago

S.Korean stocks, won drop over mounting fears of coronavirus

* KOSPI slips nearly 1%, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Jan 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares ended almost 1% lower on Thursday as fears of the spread of a new flu-like virus in China dragged global markets. The won and the benchmark bond yield fell.

** China is putting on lockdown a city of 11 million people considered the epicentre of a new coronavirus outbreak that has killed 17 and infected nearly 600, as health authorities around the world scramble to prevent a global pandemic.

** The KOSPI ended down 21.12 points, or 0.93%, at 2,246.13. For the week, the index shed 0.2%.

** South Korean financial markets will be closed on Friday and Monday for the Lunar New Year holidays. Markets will resume trading at normal hours on Tuesday, Jan. 28.

** The gravity of the infectious disease was in focus today, pushing down South Korean stocks in line with Asian peers, said Na Jeong-hwan, an analyst at DS Investment & Securities.

** Shares of Samsung BioLogics bucked the trend to end up 6.9% on solid quarterly earnings.

** Funds tracking South Korea’s KOSPI 200 index will be forced to sell up to $685 million worth of shares of Samsung Electronics when the bourse lowers the maximum weighting of any single stock to 30% later this year, fund managers and analysts estimated.

** Foreigners were net sellers of 135.8 billion won ($116.35 million) worth of shares on the main board.

** The won was quoted at 1,168.7 per dollar on the onshore settlement platform, 0.35% lower than its previous close at 1,164.6. On a weekly basis, the currency shrank 0.8%.

** In offshore trading, the won was quoted at 1,168.1 per U.S. dollar, down 0.3% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,167.9 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.21%, while U.S. stocks edged higher overnight. Japanese stocks fell 0.98%.

** The KOSPI has risen 2.21% so far this year, and gained 8.9% in the previous 30 trading sessions.

** The trading volume was 502.81 million shares and, of the total traded issues of 908, the number of advancing shares was 258.

** The won has lost 1.1% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.07 point to 110.31, while the 3-month Certificate of Deposit rate was quoted at 1.46% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield fell by 1.8 basis points to 1.422% in late afternoon trade, while the benchmark 10-year yield fell by 2.0 basis points to 1.703%. ($1 = 1,167.2000 won) (Reporting by Hayoung Choi; editing by Uttaresh.V)

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