S.Korean shares gain after Wall Street rally

Credit: REUTERS/KIM HONG-JI

* KOSPI rises, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield rises

SEOUL, April 3 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose 0.5% on Friday, after Wall Street rallied overnight due to a surge in oil prices even though U.S. jobless claims hit a record high due to the coronavirus outbreak. The Korean won weakened, while the benchmark bond yield rose.

** The Seoul stock market's benchmark KOSPI rose 8.03 points, or 0.47%, to 1,732.89 by 0226 GMT.

** Foreigners were net sellers of 46.8 billion won ($38.14 million) worth of shares on the main board.

** Equity prices will show mixed movements for a while, rather than a continuous momentum, on trends of the virus outbreak, economic indicators and oil prices, said Lim Dong-min, an analyst at Kyobo Securities.

** U.S. President Donald Trump said on Thursday he had brokered a deal with Russia and Saudi Arabia to cut output and arrest an oil price rout. ** The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week. ** South Korea's vice finance minister on Friday said the government is closely monitoring the corporate bond market as the coronavirus pandemic is increasing the cost of fundraising in the short-term credit market. ** South Korea's central bank said on Friday the country's foreign exchange reserves fell by the most in more than 11 years at the end of March, as authorities sold dollars to steady the local forex market hammered by the outbreak. ** The country reported 86 new coronavirus cases on Friday, bringing the national tally to 10,062. ** The won was quoted at 1,229.0 per dollar on the onshore settlement platform , 0.06% lower than its previous close at 1,228.3. It has lost 5.9% against the dollar so far this year.

** In offshore trading, the won was quoted at 1,229.1 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,227.8.

** The trading volume during the session in the KOSPI index was 433.34 million shares. Of the total traded issues of 898, the number of advancing shares was 536.

** In money and debt markets, June futures on three-year treasury bonds fell 0.02 point to 111.37.

** The most liquid 3-year Korean treasury bond yield rose by 0.5 basis point to 1.064%, while the benchmark 10-year yield rose by 1.3 basis points to 1.530%. ($1 = 1,226.9200 won) (Reporting by Jihoon Lee; Editing by Shounak Dasgupta) ((Jihoon.Lee@thomsonreuters.com; +822 6936 0034;)) Keywords: SOUTHKOREA MARKETS/MIDDAY

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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