Edition:
India

Hayoung Choi

No elevators or hugs for South Korean coronavirus survivor now battling stigma

31 Mar 2020

BUSAN, South Korea Park Hyun stops to catch his breath after climbing a few steps to the entrance of the engineering college of the Pusan National University where he teaches. Despite a persistent shortness of breath, he uses the stairs and avoids elevators. | Video

'There are no funerals:' Death in quarantine leaves nowhere to grieve

19 Mar 2020

Struck down by coronavirus at the age of 83, the long life of Alfredo Visioli ended with a short ceremony at a graveyard near Cremona, his hometown in northern Italy.

RPT-REFILE-INSIGHT-"There are no funerals:" Death in quarantine leaves nowhere to grieve

19 Mar 2020

March 19 Struck down by coronavirus at the age of 83, the long life of Alfredo Visioli ended with a short ceremony at a graveyard near Cremona, his hometown in northern Italy.

South Korea's central bank burns, quarantines cash in coronavirus precaution

06 Mar 2020

SEOUL South Korea's central bank said on Friday it was quarantining bank notes for two weeks to remove any traces of coronavirus and even burning some as part of efforts to stem the outbreak.

S.Korean stocks shed 4% as spreading virus darkens growth outlook

24 Feb 2020

* KOSPI falls the most in over 16 mths, foreigners net sellers

S.Korea stocks tumble 3%, won hits 6-month low on spike in virus cases

24 Feb 2020

* KOSPI slumps, foreigners net sellers * Korean won hits 6-month low vs dollar * South Korea benchmark bond yield falls By Hayoung Choi SEOUL, Feb 24 South Korean stocks shed more than 3% and the won skidded on Monday, as a spike in new cases of the coronavirus in the country intensified fears over the epidemic's trajectory and of the widening economic fallout. The confirmed virus cases on Monday jumped to 763 and the death toll was up at 7, a day after the government raised its infectious disease alert to the highest level. The rising cases outside of China, where the outbreak originated, has raised alarm the virus will grow into a pandemic and cause major disruption to global business and trade. The main KOSPI fell as much as 3.2% to its lowest level since Feb. 3, on track for its third straight session of losses. "If the pace of the virus spread does not slow down, it could deal a serious blow to the economy until the second quarter of this year," said Choi Seok-won, head of SK Securities' research centre. "The KOSPI's top shares bore the brunt of a broad-based sell-off by foreigners," as they worried about the impact on exporters, he added. Foreigners were net sellers of around 500 billion won ($414.28 million) worth of shares on the main board as of 0229 GMT, with the market heavyweights Samsung Electronics and SK Hynix skidding more than 3% each. Before the markets opened, South Korea's vice finance minister Kim Yong-beom said a set of extraordinary measures would be announced soon to minimize the impact of the virus. Bucking the trend, shares of convenience food companies, CJ Seafood and Seoul Food , rallied as people stay away from outdoor activities. Shares of i-Scream Edu , a distance-learning provider, soared after the education minister said schools would start the new semester one week later than earlier planned. The virus anxiety also hit the won currency; it was quoted at 1,217.9 per dollar on the onshore settlement platform , 0.71% lower than its previous close at 1,209.2. In early trade, the won fell as low as 1,218.4 per dollar, its weakest level since late August, 2019. The heightened risk aversion sent the won to a 3-week low against the Japanese yen . In money and debt markets, March futures on three-year treasury bonds rose 0.17 points to 111.32, while the 3-month Certificate of Deposit rate was quoted at 1.41%. The most liquid 3-year Korean treasury bond yield fell 4.2 basis points to 1.139%, while the benchmark 10-year yield declined 4.5 basis points to 1.397%. ($1 = 1,206.9100 won) (Additional reporting by Joori Roh, Cynthia Kim Editing by Shri Navaratnam)

S.Korea prosecutors launch probe into Lime Asset Management

20 Feb 2020

SEOUL, Feb 20 South Korean prosecutors said on Thursday they have launched an investigation into Lime Asset Management and Shinhan Investment Corp after they were accused by regulators of covering up losses at Lime.

S.Korean stocks post sharpest fall in 15 months as China virus spreads

28 Jan 2020

SEOUL, Jan 28 South Korean shares suffered their worst session in more than 15 months on Tuesday, dragged down by mounting worries over the economic impact of the new coronavirus outbreak. Local stocks exposed to China, the biggest buyer of South Korean goods, dominated the losses as the death toll from the virus in the world's second-largest economy climbed to 106 and some health experts questioned whether Beijing can contain the virus, which could threaten global growth.

S.Korea bourse's planned cap on index weighting seen forcing sales of Samsung

23 Jan 2020

SEOUL, Jan 23 Funds tracking South Korea's KOSPI 200 index will be forced to sell up to $685 million worth of shares of Samsung Electronics when the bourse lowers the maximum weighting of any single stock to 30% later this year, fund managers and analysts estimated.

No money, no hope: South Korea's 'Dirt Spoons' turn against Moon

27 Nov 2019

SEOUL Hwang Hyeon-dong lives in a 6.6-square-metre (71-square-foot) cubicle near his university campus in Seoul, which comes with a shared bathroom and kitchen plus all the rice he can eat, that he rents for 350,000 won ($302) a month. | Video

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