• Sun. Nov 29th, 2020

Dimancherouge

Technology

S.Korean stocks rebound on U.S. tech rally, new virus stimulus

* KOSPI rises, foreigners turn net buyers

* Korean won strengthens against U.S. dollar

* South Korea benchmark bond yield falls

SEOUL, Sept 10 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares rebounded on Thursday, tracking a tech-led rally in Wall Street, while the government’s new stimulus package added to investor sentiment. The won gained, while the benchmark bond yield fell.

** The benchmark KOSPI closed up 20.67 points, or 0.87%, at 2,396.48. Market heavyweight Samsung Electronics jumped as much as 2.74% to lead the gains.

** Wall Street’s main indexes ended higher on Wednesday to snap a three-session losing streak as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory.

** Shares of Kakao Games Corp surged 30% on debut, after it debuted on the junior KOSDAQ at 48,000 won, double the IPO price, valuing the company at 3.5 trillion won ($2.95 billion).

** South Korea is preparing the fourth supplementary budget of this year of around $6.6 billion to aid struggling small businesses facing mass closures amid unprecedented social distancing restrictions to curb a resurgence of the coronavirus.

** The country reported 155 fresh coronavirus cases as of Wednesday midnight, according to an official statement, bringing the national tally to 21,743 and 346 deaths.

** Foreigners were net buyers of 380.4 billion won ($321.05 million) worth of shares on the main board.

** The won ended trading at 1,184.9 per dollar on the onshore settlement platform, 0.35% higher than its previous close at 1,189.1.

** In offshore trading, the won was quoted at 1,184.4 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,184.9.

** In money and debt markets, September futures on three-year treasury bonds fell 0.01 points to 111.87.

** The most liquid 3-year Korean treasury bond yield fell by 0.5 basis points to 0.912%, while the benchmark 10-year yield fell by 0.3 basis points to 1.515%.

$1 = 1,184.8500 won
Reporting by Joori Roh; Editing by Rashmi Aich

Our Standards:The Thomson Reuters Trust Principles.

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