S.Korea stocks rise, set for weekly gain as investors turn focus to economy

* KOSPI gains, foreigners net buyers

* Korean won flat versus U.S. dollar

* South Korea benchmark bond yield up

SEOUL, Feb 14 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares climbed on Friday after the death toll from a coronavirus outbreak in China’s Hubei province rose by 116, less than half the number of deaths from the day before.

** The Korean won was nearly flat, while the benchmark bond yield rose.

** As of 02:32 GMT, the Seoul stock market’s main KOSPI was 12.19 points, or 0.55% higher at 2,245.15. For the week, it was set to gain around 1.5%.

** Lee Kyoung-min, an analyst at Daishin Securities, said that as there had been no escalation in fears surrounding the outbreak, investors were now focusing on economic data and the impact of the virus.

** South Korea’s finance ministry on Friday said the economy was recovering thanks to improvements in consumer confidence and some economic indicators, although it said the coronavirus may delay a further recovery.

** Foreigners were net buyers of 27.0 billion won ($22.82 million) worth of shares on the main board.

** In offshore trading, the won was quoted at 1,183.8 per U.S. dollar, flat from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,182.6 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.17%.[MKTS/GLOB]. Japanese stocks fell 0.65%.

** The KOSPI has risen 1.9% so far this year, and gained 1.3% in the previous 30 trading sessions.

** Around 221.70 million KOSPI index shares were traded on Friday. Of the 900 stocks traded, 332 advanced.

** The won has lost 2.2% against the dollar so far this year.

** March futures on three-year treasury bonds rose 0.03 points to 110.86,

Read More Here...

Bookmark the permalink.

Comments are closed.