S.Korean shares surge on upbeat U.S. data, virus vaccine hopes

SK Biopharmaceuticals Co

02/07/2020 08:32

* KOSPI rises more than 1%, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield falls
    * SK Biopharma makes stellar debut 
    * For the midday report, please click  urn:newsml:reuters.com:*:nL4N2E90OJ

    SEOUL, July 2 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares ended more than 1% higher on Thursday
on increased risk appetite after upbeat U.S. factory data and
positive developments in a COVID-19 drug trial boosted hopes of
a swift global economic recovery. The won strengthened, while
the benchmark bond yield fell.
    
    ** The Seoul stock market's main KOSPI  .KS11  rose 28.67
points, or 1.36%, to close at 2,135.37.  
    
    ** While U.S. manufacturing activity rebounded in June and
hit the highest in more than a year, a COVID-19 vaccine
developed by German biotech firm BioNTech  BNTX.O  and U.S. firm
Pfizer  PFE.N  showed potential in early-stage human trials.
 urn:newsml:reuters.com:*:nN9N2BW017  urn:newsml:reuters.com:*:nL8N2E65DJ
    
    ** A recovery in U.S. economic indicators has proved with
real numbers that the worst of the coronavirus crisis has
passed, said Shin Joong-ho, an analyst at eBest Investment &
Securities. 
    
    ** SK Biopharmaceuticals Co Ltd  326030.KS  jumped nearly
30% in its Seoul stock market debut, as the initial public
offering market gathers steam after the novel coronavirus
outbreak stalled potential listings.  urn:newsml:reuters.com:*:nL4N2E902Q
    
    ** Foreigners were net sellers of 12.5 billion won ($10.41
million) worth of shares on the main board. 
    
    ** The won closed trading 0.28% higher at 1,200.0 per dollar
on the onshore settlement platform  KRW=KFTC .
    
    ** In offshore trading, the won  KRW=  was quoted up 0.2% at
1,199.2 per dollar, while in non-deliverable forward trading its
one-month contract  KRW1MNDFOR=  was also quoted at 1,199.2. 
    
    ** The trading volume during the session in the KOSPI index
 .KS11  was 1,073.19 million shares. Of the total traded issues
of 899, the number of advancing shares was 671.
    
    ** In money and debt markets, September futures on
three-year treasury bonds  KTBc1  rose 0.06 point to 112.07.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
1.4 basis points to 0.835%, while the benchmark 10-year yield
fell by 2.8 basis points to 1.378%.

($1 = 1,200.5300 won)

 (Reporting by Jihoon Lee; Editing by Rashmi Aich)
 ((jihoon.lee@thomsonreuters.com; +822 6936 0034;))