June 8, 2020 / 3:07 AM / 2 months ago

S.Korean shares edge higher as upbeat U.S. jobs data boosts recovery hopes

    SEOUL, June 8 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares gained on Monday as surprising
employment numbers in the United States strengthened hopes of a
swift economic recovery, although investors were cautious ahead
of the U.S. Federal Reserve's meeting due later this week. The
Korean won strengthened, while the benchmark bond yield fell.
    
    ** The Seoul stock market's main KOSPI         rose 4.17
points, or 0.20%, to 2,186.32 as of 0226 GMT.
    
    ** The U.S. economy unexpectedly added jobs in May after
suffering record losses in the prior month, offering the
clearest signal yet that the downturn triggered by the COVID-19
pandemic was probably over.             
    
    ** However, shares of blue-chip Samsung Electronics Co Ltd
            fell as much as 1.3% on Monday, as the group heir
Jay Y. Lee appeared in court for a hearing to determine whether
he should be jailed over allegations of accounting fraud.
            
    
    ** Investors seemed cautious after last week's surge and
ahead of the FOMC meeting later this week, worrying that the
U.S. Fed's stance may shift after economic indicators exceeded
expectations, said Lee Na-ye, an analyst at Korea Investment &
Securities.
    
    ** Foreigners were net sellers of 152.7 billion won ($126.88
million) worth of shares on the main board. 
    
    ** The won was quoted 0.27% higher at 1,203.9 per dollar on
the onshore settlement platform           .
    
    ** In offshore trading, the won        was quoted 0.2% lower
at 1,203.9 per dollar, while in non-deliverable forward trading
its one-month contract               was quoted at 1,203.2.
    
    ** In money and debt markets, June futures on three-year
treasury bonds         rose 0.03 point to 111.93.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
0.1 basis point to 0.894%, while the benchmark 10-year yield
fell by 0.2 basis points to 1.447%.

    ($1 = 1,203.5300 won)

 (Reporting by Jihoon Lee; Editing by Rashmi Aich)
  
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