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Company News

S.Korea stocks set to snap eight-day rally as coronavirus cases jump

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

    SEOUL, Oct 13 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares fell on Tuesday and were set to snap
eight straight sessions of gains as a triple-digit jump in
domestic coronavirus cases weighed on sentiment. The won
weakened, while the benchmark bond yield fell.
    
    ** By 0204 GMT, the benchmark KOSPI         fell 9.53
points, or 0.40%, to 2,394.20, after rising as much as 0.6%
earlier in the session.
    
    ** "KOSPI opened up, tracking gains in U.S. stocks ... but
investors coughed up shares as the (local) new coronavirus cases
exceeded 100," said Kiwoom Securities' analyst Seo Sang-young.
    
    ** South Korea reported 102 new coronavirus cases as of
Monday midnight, marking the first triple-digit increase in six
days, the Korea Disease Control and Prevention Agency said on
Tuesday.             
    
    ** Market heavyweights were trading mixed, with chip giant
Samsung Electronics             rising 0.5% to its highest since
mid-February, while LG Chem             and Hyundai Motor
            fell 2.8% and 1.4%, respectively.
    
    ** Foreigners were net buyers of 103.3 billion won ($89.84
million) worth of shares on the main board.
    
    ** The won was quoted at 1,149.9 per dollar on the onshore
settlement platform           , 0.27% lower than its previous
close of 1,146.8, which was the highest since April 2019.
    
    ** In offshore trading, the won        was quoted at 1,149.8
per dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,149.3.
    
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was up 1.29%.
    
    ** In money and debt markets, December futures on three-year
treasury bonds         rose 0.02 points to 111.79.
    
    ** The most liquid 3-year Korean treasury bond yield was
flat at 0.925%, while the benchmark 10-year yield fell by 1.6
basis points to 1.537%.

($1 = 1,149.8600 won)

 (Reporting by Joori Roh; Editing by Aditya Soni)
  
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