S.Korean stocks fall on virus worries, firmer dollar

S.Korean stocks fall on virus worries, firmer dollar

[ad_1]

    * KOSPI falls, foreigners net sellers
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, July 1 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares slipped on Thursday, on fears of the
spread of COVID-19's Delta variant and a strengthening of the
U.S. dollar ahead of a closely-watched U.S. jobs report on
Friday. The won weakened and the benchmark bond yield fell.
    
    ** The benchmark KOSPI         fell 8.48 points, or 0.26%,
to 3,288.20 by 0243 GMT.
    
    ** Among heavyweights, technology giant Samsung Electronics
            fell 0.50% and peer SK Hynix             slid 1.96%,
while internet giant Naver             slipped 0.12%.
    
    ** Foreigners were net sellers of 219.1 billion won ($193.45
million) worth of shares on the main board. 
    
    ** "Strengthening dollar on expectations for upbeat U.S.
jobs data is adding pressure on KOSPI ... Investors are seen
booking profits as KOSPI and other global shares are near their
record highs," said Seo Jung-hun, economist at Samsung
Securities.
    
    ** The dollar headed for its biggest monthly rise since
November 2016, as investors turned to the safe-haven currency
betting that a good Friday jobs report will strengthen the U.S.
Federal Reserve's hawkish tilt.
    
    ** Worries about the novel coronavirus persist with high
readings and snap lockdowns being announced in Australia,
Indonesia, Malaysia and Thailand.
    
    ** Meanwhile, South Korean exports marked a fourth
consecutive month of double-digit growth in June.             
    
    ** Separately, a private sector survey also showed the
country's factory activity extended growth into a ninth month in
June.             
    
    ** The won was quoted at 1,132.2 per dollar on the onshore
settlement platform           , down 0.54%.
    
    ** In offshore trading, the won        was quoted at
1,132.5, while in non-deliverable forward trading, its one-month
contract               was quoted at 1,132.2.
    
    ** In money and debt markets, September futures on
three-year treasury bonds         rose 0.04 point to 110.01.
    
    ** The benchmark 10-year yield fell by 2.6 basis points to
2.066%.

($1 = 1,132.6100 won)

 (Reporting by Joori Roh, additional reporting by Jihoon Lee;
editing by Uttaresh.V)
  

[ad_2]

Source link

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

Share This