S.Korean shares slip as surge in virus-related deaths stokes investors’ concerns

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

* KOSPI slips, foreigners net sellers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield falls

Round-up of South Korean financial markets:

** South Korean shares slipped on Wednesday after two consecutive sessions of sharp gains, as a surge in virus-related deaths reined-in investors’ optimism toward the coronavirus pandemic slowing down. The Korean won strengthened, while the benchmark bond yield fell.

** The Seoul stock market’s main KOSPI fell 2.30 points, or 0.13%, to 1,821.30 as of 0213 GMT. It has fallen 17.13% so far this year.

** Foreigners were net sellers of 48.5 billion won ($39.75 million) worth of shares on the main board, set to extend the selloff into the 25th straight session.

** Even as medical teams struggled to save an onslaught of gravely ill coronavirus patients and deaths hit new highs, the number of COVID-19 hospitalizations seemed to be levelling off in New York state, the U.S. epicentre of the pandemic, Governor of New York said on Tuesday.

** South Korea reported 53 new coronavirus cases on Wednesday, bringing the national tally to 10,384.

** Investors were under pressure in early session from a surge of coronavirus-related deaths, casting doubts that it might be too soon to get optimistic about slowing down of the epidemic, said Lee Kyoung-min, an analyst at Daeshin Securities.

** The won was quoted at 1,220.6 per dollar on the onshore settlement platform , 0.05% higher than its previous close at 1,221.2.

** In offshore trading, the won was quoted at 1,219.4 per dollar, down 0.4% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,219.0.

** MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.32%.

** The trading volume during the session in the KOSPI index was 448.04 million shares. Of the 902 issues traded, 411 shares advanced.

** The won has lost 5.3% against the dollar so far this year.

** In money and debt markets, three-year treasury bond June futures rose 0.03 points to 111.43.

** The most liquid 3-year Korean treasury bond yield fell by 1.0 basis points to 1.039%, while the benchmark 10-year yield fell by 2.2 basis points to 1.558%.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Netflix – Streaming Media on the Go

Netflix - Streaming Media on the GoUsing Netflix or any other streaming services can make all the difference when you are wanting to...

Some of Oprah’s Most Memorable Speeches

Oprah is one of the most popular talk show hosts in the world. She is a talented television personality, inspirational speaker, and author. Oprah's...

Texas coronavirus cases tick higher as state forges ahead with reopening

KEY POINTS Texas started to reopen its economy on May 1, and plans more steps to lift restrictions in the coming days even as...

Super Bowl 2020

Super Bowl 2020What will happen with the Super Bowl 2020 game? Most people assume that the Oakland Raiders will be playing, because they...

The Ultimate Amazon Prime Package Review

The Ultimate Amazon Prime Package ReviewAmazon Prime is an online gift membership service for Amazon.com, starting at $99 per year. The deal is...
Home of Science
Follow me