* KOSPI rises, foreigners net sellers
* Korean won gains against U.S. dollar
* South Korea benchmark bond yield rises
SEOUL, Aug 31 (Reuters) – Round-up of South Korean financial
markets:
** South Korean shares rose on Monday tracking a global
rally, but trimmed some gains after July factory data fell short
of forecasts and as tougher coronavirus-led social distancing
measures took effect. The won and the benchmark bond yield rose.
** By 0220 GMT, the benchmark KOSPI rose 7.53
points, or 0.32%, to 2,361.33, erasing gains as much as 1.2% in
earlier session.
** In July, South Korea’s industrial production rose by a
seasonally-adjusted 1.6% from a month earlier, down from 7.2% in
June, while a resurgence in coronavirus infections is expected
to further weigh on the economy.
** The country reported 248 new coronavirus cases as of
Sunday midnight, slower than the previous day’s 299 infections,
as restrictions on onsite dining at restaurants, pubs and
bakeries in the densely populated Seoul area took effect on
Sunday.
** Meanwhile, China’s factory activity grew at a slower pace
in August as floods across southwestern China disrupt production
while smaller firms continued to struggle, potentially tempering
a robust recovery for the economy from the coronavirus shock.
** Foreigners were net sellers of 428.4 billion won ($362.35
million) worth of shares on the main board.
** The won was quoted at 1,181.6 per dollar on the onshore
settlement platform , 0.23% higher than its previous
close at 1,184.3.
** In offshore trading, the won was quoted at 1,182.3
per dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
was quoted at 1,181.5.
** MSCI’s broadest index of Asia-Pacific shares outside
Japan was up 0.40%.
** In money and debt markets, September futures on
three-year treasury bonds fell 0.05 points to 111.90.
** The most liquid 3-year Korean treasury bond yield rose by
1.9 basis points to 0.914%, while the benchmark 10-year yield
rose by 1.3 basis points to 1.499%.
($1 = 1,182.2700 won)
(Reporting by Joori Roh; Editing by Amy Caren Daniel)
(([email protected]; +82 2 6936 1493;))
Keywords: SOUTHKOREA MARKETS/MIDDAY
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