S.Korea stocks slip on U.S.-China tensions, renewed virus fears
* KOSPI slides, foreigners net sellers
* KRW falls against USD
* S.Korea benchmark bond yield rises
* For the midday report, please click
SEOUL, July 14 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares fell on Tuesday as a record number of global coronavirus infections, mounting U.S.-China tensions and gloomy outlook for corporate earnings dented sentiment. The Korean won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI closed down 2.45 points, or 0.11%, to 2,183.61.
** Broader sentiment was hit after the number of coronavirus infections around the world touched 13 million on Monday, according to a Reuters tally.
** The Trump administration plans to soon scrap a 2013 agreement between U.S. and Chinese auditing authorities, a senior State Department official said.
** Meanwhile, South Korea’s government launched a plan on Tuesday to spend 114.1 trillion won ($94.63 billion) on a “Green New Deal,” which has pulled up shares of local companies engaged in digital technologies and environment-friendly industries.
** The Bank of Korea is widely expected to keep its key interest rates unchanged on Thursday and for the rest of 2020, a Reuters poll showed, as red-hot property prices forced policymakers into a tight corner.
** Foreigners were net sellers of 41.8 billion won worth of shares on the main board.
** The won ended trading at 1,205.7 per dollar on the onshore settlement platform, 0.40% lower than its previous close at 1,200.9.
** In offshore trading, the won was quoted at 1,205.1 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,204.5.
** In money and debt markets, September futures on three-year treasury bonds was unchanged at 111.97.
** The most liquid 3-year Korean treasury bond yield rose by 0.1 basis points to 0.862% in late afternoon trade, while the benchmark 10-year yield rose by 0.3 basis points to 1.423%.
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