S.Korea stocks track Wall St higher, won strengthens to 5-month high

    * KOSPI jumps, foreigners net buyers
    * KRW strengthens to 5-mth high vs USD
    * S.Korea benchmark bond yield rises

    SEOUL, Aug 6 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares rose 1.2% on Thursday, tracking
overnight gains in Wall Street on strong earnings and prospects
of more U.S. stimulus. The won strengthened to a five-month high
as the dollar weakened, while the benchmark bond yield edged up.
    
    ** The benchmark KOSPI         gained 28.67 points, or
1.24%, to 2,340.53 by 0201 GMT. The index is set for a four-day
winning streak, led by heavyweight Samsung Electronics Co Ltd
           .
    
    ** Concerns that the global economy is stalling amid a surge
in coronavirus cases has increased calls for more fiscal aid, a
move stock investors have welcomed.
    
    ** A group of Senate Republicans on Wednesday backed
extending a $25 billion payroll assistance program for U.S.
airlines, according to a letter seen by Reuters.             
       
    ** Back home, shares of Hyundai Motor Co             soared
as much as 7.8% to their highest since May 2018, set to gain for
a fourth straight session, on upbeat July sales and hopes of
higher electric vehicle sales.             
    
    ** Foreigners were net buyers of 39.5 billion won ($33.35
million) worth of shares on the main board.
    
    ** The won was quoted at 1,184.6 per dollar on the onshore
settlement platform           , 0.35% higher than its previous
close at 1,188.8, hitting its highest level since March 5 in
earlier trade.
    
    ** In offshore trading, the won        was quoted at 1,184.6
per dollar, up 0.1% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,183.6.
    
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was up 0.31%.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         fell 0.01 points to 112.29.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
0.8 basis points to 0.803%, while the benchmark 10-year yield
rose by 1.6 basis points to 1.308%.

    ($1 = 1,184.5800 won)

 (Reporting by Joori Roh, Editing by Sherry Jacob-Phillips)
Source: Read Full Article
Related Posts
