Company News

S.Korean shares fall as global virus cases surge, robust Q3 growth trims losses

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

    SEOUL, Oct 27 (Reuters) - Round-up of South Korean financial
** South Korean shares edged lower on Tuesday due to surging
global cases of the novel coronavirus, although the losses were
limited after the country reported an upbeat third-quarter
growth. The won weakened, while the benchmark bond yield rose.
    ** By 0145 GMT, the benchmark KOSPI         fell 1.24
points, or 0.05%, to 2,342.67, after tumbling as much as 0.97%.
    ** South Korea reported 88 new COVID-19 cases as of Monday
midnight, fewer than 119 a day earlier, while the United States,
Russia, France and many other countries set new records for
daily infections.             
    ** Meanwhile, the South Korean economy returned to growth in
the third quarter, recovering from its sharpest contraction in
more than a decade.             
    ** Hyundai Motor             and its affiliate Kia Motors
            gained 2.3% and 9.3%, respectively after the release
of their earnings results.                         
    ** Chip giant Samsung Electronics            , however,
dropped 1%, reversing gains from the previous session when hopes
of stake sales, higher dividends and long-awaited restructuring
pushed up the stock.             
    ** Foreigners were net buyers of 56.7 billion won ($50.22
million) worth of shares on the main board.
    ** The won was quoted at 1,128.9 per dollar on the onshore
settlement platform           , 0.11% lower than its previous
close at 1,127.7.
    ** In offshore trading, the won        was quoted at 1,129.2
per dollar, up 0.3% from the previous day, while in
non-deliverable forward trading, its one-month contract
              was quoted at 1,128.9.
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was down 0.26%.
    ** In money and debt markets, December futures on three-year
treasury bonds         fell 0.01 point to 111.86.
    ** The most-liquid 3-year Korean treasury bond yield rose by
0.5 basis point to 0.913%, while the benchmark 10-year yield
rose by 0.4 basis point to 1.487%.

($1 = 1,128.9400 won)

 (Reporting by Joori Roh; editing by Uttaresh.V)