S.Korea stocks dip as global virus concerns offset domestic export boost

Credit: REUTERS/Kim Hong-Ji

South Korean shares ended lower on Monday as concerns over surging coronavirus cases in Europe and fading U.S. fiscal stimulus hopes offset optimism around domestic trade and virus situations. The won gained, while the benchmark bond yield fell.

KOSPI falls, foreigners net sellers

Korean won strengthens against U.S. dollar

South Korea benchmark bond yield falls

For the midday report, please click

SEOUL, Sept 21 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares ended lower on Monday as concerns over surging coronavirus cases in Europe and fading U.S. fiscal stimulus hopes offset optimism around domestic trade and virus situations. The won gained, while the benchmark bond yield fell.

** The benchmark KOSPI .KS11 closed down 23.01 points, or 0.95%, at 2,389.39, snapping a 0.26% gain in the previous session.

** European countries from Denmark to Greece announced new restrictions on Friday to curb surging infections in some of their largest cities, while Britain was reported to be considering a new national lockdown.

** South Korea's exports for the first 20 days of the month returned to growth for the first time since March, helped by higher microchip and car sales, data showed on Monday.

** Schools in the capital Seoul and nearby areas resumed in-person classes for the first time in almost a month on Monday after daily infections dropped to the lowest levels since mid-August.

** Heightened uncertainty over the U.S. presidential election following the death of U.S. Supreme Court Justice Ruth Bader Ginsburg also weighed on foreign investor sentiment, said Kiwoom Securities' analyst Seo Sang-young.

** Majority of market heavyweights tumbled, with biopharmaceutical firm Celltrion Inc 068270.KS and LG Chem 051910.KS leading losses.

** Foreigners were net sellers of 77.4 billion won ($66.86 million) worth of shares on the main board.

** The won ended trading at 1,158.0 per dollar on the onshore settlement platform KRW=KFTC, 0.20% higher than its previous close at 1,160.3.

** In offshore trading, the won KRW= was quoted at 1,157.6 per dollar, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,157.7.

** In money and debt markets, December futures on three-year treasury bonds KTBc1 rose 0.03 points to 111.81.

** The most liquid three-year Korean treasury bond yield fell by 0.4 basis points to 0.904%.

($1 = 1,157.6300 won)

(Reporting by Joori Roh; Editing by Ramakrishnan M.)

((joori.roh@thomsonreuters.com; +82 2 6936 1493;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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