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
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.
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
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.
* KOSPI falls the most in over 16 mths, foreigners net
* 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
"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)
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.
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
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.
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.
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