June 30, 2020 / 3:10 AM / 9 days ago

S.Korean shares rise on upbeat economic data from U.S. and China

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

    SEOUL, June 30 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares rose more than 1% on Tuesday as risk
appetite boosted on upbeat economic data from the United States
and China. The Korean won strengthened, while the benchmark bond
yield fell.
    
    ** The Seoul stock market's main KOSPI         rose 30.02
points, or 1.43%, to 2,123.50 by 0208 GMT. The index is set to
mark a third straight monthly gain and the sharpest quarterly
rise in nearly 15 years.
    
    ** Risk appetite boosted after contracts to buy U.S.
previously owned homes rebounded by the most on record in May,
suggesting the housing market was starting to turn around after
being hammered by the pandemic.             
    
    ** China's factory activity expanded at a faster pace in
June, beating expectations, as the economy continues to recover
after the government lifted strict lockdowns and ramped up
investment.             
    
    ** South Korea's central bank said on Tuesday it plans to
provide dollar funds to local financial firms via repurchase
agreements to stabilise the foreign exchange market if
volatility heightens due to the coronavirus pandemic and global
economic recession risks.             
    
    ** Shares of Hankook Technology Group Co Ltd            
surged as much as 29.8% on Tuesday on expectations of a
management change, after reports about a potential feud
involving the founding family members.             
    
    ** Foreigners were net buyers of 65.8 billion won ($55.00
million) worth of shares on the main board. 
    
    ** The won was quoted 0.24% higher at 1,195.7 per dollar on
the onshore settlement platform           .
    
    ** In offshore trading, the won        was quoted up 0.3% at
1,195.6 per dollar, while in non-deliverable forward trading its
one-month contract               was quoted at 1,195.7. 
    
    ** The most liquid 3-year Korean treasury bond yield was
flat at 0.843%, while the benchmark 10-year yield fell by 0.3
basis points to 1.362%.

    ($1 = 1,196.3600 won)

 (Reporting by Jihoon Lee; Editing by Shailesh Kuber)
  
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