for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

S.Korea stocks jump 1.5% as daily virus cases drop; heavyweights shine

    * KOSPI rises, foreigners net buyers
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, Sept 28 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares rose around 1.5% on Monday, driven by
major heavyweights, as sentiment was boosted after the country
reported the smallest number of daily coronavirus cases in over
a month. The won weakened, while the benchmark bond yield also
fell.
    
    ** By 0235 GMT, the benchmark KOSPI         rose 34.20
points, or 1.50%, to 2,312.99.
    
    ** The country reported 50 new coronavirus cases, the lowest
since a new wave of outbreaks emerged from a church and a large
political rally last month.             
    
    ** Samsung Electronics'             shares were leading
gains in major heavyweights, while Hyundai Motor             and
Kakao             also jumped 3.2% and 3.3%, respectively.
    
    ** "Expectations of possible benefits from U.S. sanctions on
SMIC also lifted KOSPI ... but concerns over resurgence in
coronavirus in the U.S. and Europe persist," said Na Jeong-hwan,
analyst at DS Investment & Securities.
    
    ** Shares of South Korean chipmakers Samsung Electronics and
DB Hitek              rose on hopes that they may benefit from
the United States' new export restrictions on China's biggest
chipmaker SMIC          .             
    
    ** South Korean biopharmaceutical company Celltrion
            and its affiliates Celltrion Pharm             and
Celltrion HealthCare             jumped on the company's merger
announcement.             
    
    ** Foreigners were net buyers of 9.4 billion won ($8.01
million) worth of shares on the main board. 
    
    ** The won was quoted at 1,173.5 per dollar on the onshore
settlement platform           , 0.10% lower than its previous
close at 1,172.3.
    
    ** In offshore trading, the won        was quoted at 1,173.7
per dollar, while in non-deliverable forward trading its
one-month contract               was quoted at 1,173.3.
    
    ** In money and debt markets, December futures on three-year
treasury bonds         rose 0.03 points to 112.06.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
1.2 basis points to 0.843%, while the benchmark 10-year yield
fell by 0.6 basis points to 1.417%.

($1 = 1,173.3900 won)

 (Reporting by Joori Roh, additional reporting by Jihoon Lee;
Editing by Rashmi Aich)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up