S.Korean stocks end lower on record virus cases, U.S. inflation data
* KOSPI falls, foreigners net sellers
* Korean won weakens against U.S. dollar
* South Korea benchmark bond yield falls
* For the midday report, please click
SEOUL, July 14 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares ended lower on Wednesday, as the biggest jump in U.S. inflation in 13 years spurred bets of a earlier-than-expected monetary policy tightening, while daily COVID-19 cases at home hitting a record high also weighed on sentiment. Both the won and the benchmark bond yield fell.
** The KOSPI closed down 6.57 points, or 0.20%, at 3,264.81, snapping two straight days of gains. The benchmark index fell as much 0.64% in early trade.
** The U.S. consumer price index (CPI) increased 0.9% last month, the largest gain since June 2008, amid supply constraints and as the economic recovery gathered momentum. In the 12 months through June, the CPI jumped 5.4% – the largest gain since August 2008.
** Further weighing on sentiment, South Korea reported 1,615 new coronavirus cases as of Tuesday midnight, a record high that breaks the previous peak set last week.
** Among the heavyweights, technology giant Samsung Electronics fell 0.38%, while peer SK Hynix added 0.41%. Internet giant Naver rose 0.68%.
** Foreigners were net sellers of 272.9 billion won ($237.70 million) worth of shares on the main board.
** The won ended at 1,148.5 per dollar on the onshore settlement platform, 0.27% lower than its previous close at 1,145.4.
** In offshore trading, the won was quoted at 1,147.9 per dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,148.3.
** In money and debt markets, September futures on three-year treasury bonds rose 0.10 points to 110.30.
** The most liquid 3-year Korean treasury bond yield fell by 3.1 basis points to 1.393%, while the benchmark 10-year yield fell by 2.3 basis points to 2.012%.
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