S.Korean stocks gain on stimulus hopes; Sino-U.S. tensions persist
* KOSPI rises, foreigners net buyers
* KRW gains against USD
* S.Korea benchmark bond yield rises
* For the midday report, please click
SEOUL, July 27 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares rose on Monday, with Samsung Electronics leading gains, on hopes of a coronavirus relief package in the United States, although tensions between the U.S. and China weighed on sentiment. Both the won and the benchmark bond yield rose.
** The benchmark KOSPI closed up 17.42 points, or 0.79%, at 2,217.86.
** Top aides to U.S. President Donald Trump said on Sunday they agreed in principle with Senate Republicans on a $1 trillion coronavirus relief package — the party’s opening offer in negotiations with Democrats.
** Tensions between the world’s two biggest economies escalated following the closures of consulates in Houston and Chengdu.
** Chip giant Samsung Electronics gained as much as 2.8%.
** Foreigners were net buyers of 155.5 billion won ($130.00 million) worth of shares on the main board.
** The won was quoted at 1,196.1 per dollar on the onshore settlement platform, 0.45% higher than its previous close at 1,201.5.
** In offshore trading, the won was quoted at 1,196.1 per dollar, up 0.4% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,195.9.
** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.78%.
** The trading volume during the session in the KOSPI index was 917.94 million shares. Of the total traded issues of 901, the number of advancing shares was 557.
** In money and debt markets, September futures on three-year treasury bonds fell 0.01 point to 112.21, while the 3-month Certificate of Deposit rate was quoted at 0.78% in late afternoon trade.
** The most liquid 3-year Korean treasury bond yield rose by 0.5 basis point to 0.804%, while the benchmark 10-year yield rose by 0.1 basis point to 1.306%. ($1 = 1,196.1300 won) (Reporting by Joori Roh; Editing by Krishna Chandra Eluri)
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