* KOSPI falls 2.5%, sharpest since June 15
* Foreigners bought net $60 million
* Korean won inches up against U.S. dollar
* South Korea benchmark bond yield falls
* For the midday report, please click
SEOUL, Aug 18 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares fell the most in two months on Tuesday as worries about a surge in domestic coronavirus cases eclipsed optimism from an overnight tech-fuelled rally on Wall Street. The Korean won edged up, while the benchmark bond yield fell.
** The benchmark KOSPI closed down 59.25 points, or 2.46%, at 2,348.24. That marked the sharpest decline since June 15.
** South Korea reported a three-digit increase in novel coronavirus cases for a fifth consecutive day, as authorities scrambled to trace hundreds of members of a church congregation, and the military locked down bases to counter the spread of the virus. The country reported a total 15,761 infections and 306 deaths.
** “The spike of COVID-19 cases during the holiday weekend dented the sentiment … there are worries that the virus spread could worsen and would delay the economic recovery,” said Lee Young-gon, an analyst at Hana Financial Investment.
Real Life. Real News. Real Voices
Help us tell more of the stories that matterBecome a founding member
** Local financial markets were closed on Monday for a holiday.
** Foreigners were net buyers of 71.0 billion won ($59.95 million) worth of shares on the main board.
** The won ended trading at 1,183.7 per dollar on the onshore settlement platform, 0.08% higher than its previous close at 1,184.6.
** In offshore trading, the won was quoted at 1,185.0 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,184.2.
** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.72%.
** In money and debt markets, September futures on three-year treasury bonds rose 0.07 points to 112.21, while the 3-month Certificate of Deposit rate was quoted at 0.65% in late afternoon trade.
** The most liquid 3-year Korean treasury bond yield fell by 0.9 basis points to 0.818%, while the benchmark 10-year yield fell by 3.8 basis points to 1.362%. ($1 = 1,184.3000 won) (Reporting by Joori Roh; Editing by Aditya Soni)
Subscribe to the newsletter news
We hate SPAM and promise to keep your email address safe