July 15, 2020 / 2:39 AM / 21 days ago

S.Korea stocks gain on coronavirus vaccine hopes

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

    SEOUL, July 15 (Reuters) - Round-up of South Korean
financial markets:
    ** South Korean shares rose on Wednesday as encouraging
trial data from Moderna Inc's          experimental COVID-19
vaccine fuelled hopes for a quick economic recovery from the
coronavirus crisis. The Korean won strengthened, while the
benchmark bond yield fell.
    
    ** By 0156 GMT, the benchmark KOSPI         rose 20.54
points, or 0.94%, to 2,204.15.
    
    ** Wall Street's overnight surge also boosted sentiment,
with biotech company Moderna surging 18% in extended trade after
its COVID-19 vaccine showed it was safe and provoked immune
responses in an ongoing early-stage study.                 
    
    ** The KOSPI index has jumped as much as 1.53% but
"persisting worries over global infection surge, South Korea's
unemployment data and U.S.-China tensions erased some of its
earlier gains," said Lee Won, an analyst at Bookook Securities.
    
    ** South Korea's unemployment rate fell marginally in June,
but remained high in historical terms as businesses and labour
markets continued to face pressure from the pandemic, which has
infected more than 13.21 million people globally so far.
                        
    
    ** Foreigners were net buyers of 226.6 billion won ($188.81
million) worth of shares on the main board.
    
    ** The won was quoted at 1,199.2 per dollar on the onshore
settlement platform           , 0.54% higher than its previous
close at 1,205.7.
    
    ** In offshore trading, the won        was quoted at 1,200.5
per dollar, up 0.4% from the previous day, while in
non-deliverable forward trading, its one-month contract
              was quoted at 1,200.2.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         rose 0.03 points to 112.00.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
0.4 basis points to 0.852%, while the benchmark 10-year yield
fell by 0.5 basis points to 1.414%.

($1 = 1,200.1500 won)

 (Reporting by Joori Roh; Editing by Devika Syamnath)
  
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