S.Korean shares gain over 2% on China factory data

Jin Air Co

31/03/2020 04:37

* KOSPI rises, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, March 31 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korean shares rose more than 2% on Tuesday as factory
data from China beat forecasts and hinted at a rebound in
activity. The won strengthened, while the benchmark bond yield
rose.
    
** The Seoul stock market's main KOSPI  .KS11  rose 36.34
points, or 2.12%, to 1,753.46 by 0253 GMT. 
    
** Factory activity in China unexpectedly expanded in March
after contracting sharply to a record low, official data showed.
 urn:newsml:reuters.com:*:nL4N2BN1SR
    
** Meanwhile South Korea's February factory output contracted at
its sharpest pace in more than 11 years, official data showed on
Tuesday.  urn:newsml:reuters.com:*:nS6N2BG004
    
** The recent trend of repeated ups and downs in equity prices
continued as volatility remained high and outlooks uncertain,
said Na Jeong-hwan, an analyst at DS Investment and Securities. 
    
** South Korean businesses sentiment suffered its worst monthly
fall in 17 years as firms fretted over the coronavirus pandemic,
a central bank survey showed.  urn:newsml:reuters.com:*:nS6N2BG002
    
** South Korea reported 125 new coronavirus cases on Tuesday,
bringing the total number of infections to 9,786.  urn:newsml:reuters.com:*:nL4N2BO0G4
    
** Shares of Jin Air  272450.KS , a budget airline and an
affiliate of Korean Air Lines  003490.KS , rose as much as 15%
after South Korea’s transport ministry said it will lift
sanctions over its new routes and aircraft.  urn:newsml:reuters.com:*:nL4N2BO0AY 
    
** Foreigners were net sellers of 211.1 billion won ($173.13
million) worth of shares on the main board. 
    
** The won was quoted at 1,221.2 per dollar on the onshore
settlement platform  KRW=KFTC , 0.26% higher than its previous
close at 1,224.4.
    
** In offshore trading, the won  KRW=  was quoted at 1,219.1 per
dollar, up 0.4% from the previous day, while in non-deliverable
forward trading its one-month contract  KRW1MNDFOR=  was quoted
at 1,217.7.
    
** The KOSPI has fallen 20.21% so far this year and lost 23.4%
in the previous 30 trading sessions.
 
** The trading volume during the session in the KOSPI index
 .KS11  was 630.73 million shares. Of the total traded issues of
900, the number of advancing shares was 799.
    
** The won has lost 5.3% against the dollar so far this year.
    
** In money and debt markets, June futures on three-year
treasury bonds  KTBc1  fell 0.13 point to 111.17.
    
** The most liquid 3-year Korean treasury bond yield rose by 3.0
basis points to 1.127%, while the benchmark 10-year yield rose
by 2.6 basis points to 1.586%.

($1 = 1,219.3200 won)

 (Reporting by Jihoon Lee; Editing by Krishna Chandra Eluri)
 ((Jihoon.Lee@thomsonreuters.com; +822 6936 0034;))