S.Korean stocks hit 3-week high on falling new coronavirus cases

Barunson Entertainment & Arts

12/02/2020 07:07

* KOSPI hits almost 3-week high, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises
    * For the midday report, please click  urn:newsml:reuters.com:*:nL4N2AC056

    SEOUL, Feb 12 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares climbed to a near three-week high on
Wednesday as investors took comfort in the decreasing number of
new coronavirus cases. The Korean won strengthened to a two-week
closing high and the benchmark bond yield also rose.
    
** The Seoul stock market's main KOSPI  .KS11  ended up 15.26
points, or 0.69%, at 2,238.38, its highest close since Jan. 23. 
    
** China on Wednesday reported its lowest number of new
coronavirus cases since late January, lending credence to a
prediction from the country's senior medical adviser that the
outbreak could be over by April.  urn:newsml:reuters.com:*:nL8N2AB6U4
    
** Local stocks with exposure to China climbed after media
reports https://www.bloomberg.com/news/articles/2020-02-12/chinese-company-says-it-can-make-gilead-s-coronavirus-drug
 about a Chinese drugmaker's clinical test on coronavirus
patients, said Seo Sang-young, an analyst at Kiwoom Securities. 
    
** South Korea's Barunson Entertainment & Arts Corp  035620.KQ ,
the producer of Oscar-winning movie "Parasite", surged 30% to
hit the daily price limit. 
     
** Foreigners were net sellers of 217.9 billion won ($185.00
million) worth of shares on the main board. 
    
** The won was quoted at 1,179.5 per dollar on the onshore
settlement platform  KRW=KFTC , 0.18% higher than its previous
close at 1,181.6, its highest close since Jan. 29. 
    
** In offshore trading, the won  KRW=  was quoted at 1,179.1 per
U.S. dollar, up 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,177.7 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was up 0.76% after U.S. stocks closed higher
overnight  MKTS/GLOB . Japanese stocks  .N225  rose 0.74%.
    
** The KOSPI has risen 1.85% so far this year and gained 1.5% in
the past 30 trading sessions.
    
** The trading volume during the session in the KOSPI index
 .KS11  was 623.42 million shares and, of the total traded
issues of 904, the number of advancing shares was 413.
    
** The won has lost 2.0% against the dollar so far this year.
    
** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  fell 0.03 points to 110.75, while the
three-month Certificate of Deposit rate was quoted at 1.42% in
late afternoon trade.
    
** The most liquid three-year Korean treasury bond yield fell by
0.2 basis points to 1.299% in late afternoon trade, while the
benchmark 10-year yield rose by 0.9 basis points to 1.612%.

($1 = 1,179.0900 won)

 (Reporting by Hayoung Choi; Editing by Amy Caren Daniel)
 ((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))