South Korea stocks rebound, virus worries weigh

SEOUL: Round-up of South Korean financial markets:

** South Korean shares rose on Thursday, tracking a rebound in global equities although concerns about rising COVID-19 cases in some parts of the world weighed on market sentiment. The won gained, while the benchmark bond yield fell.

** The benchmark KOSPI closed up 5.86 points, or 0.18%, at 3,177.52, after a 1.52% drop on Wednesday.

** Among heavyweights, technology giant Samsung Electronics fell 0.24%, while peer SK Hynix rose 0.38%. Battery maker LG Chem added 0.81%.

** Hyundai Motor rose 0.22% after it reported a 187% jump in its first-quarter net profit as demand for its high-margin sports-utility vehicles and premium Genesis cars boomed.

** But worries that rising COVID-19 cases in certain Asian countries like India, Japan and South Korea, and in Latin America will be a hurdle for the global economic recovery have weighed on investor sentiment.

** South Korea reported 735 new coronavirus cases as of Wednesday midnight, the highest daily tally since Jan. 7, data showed.

** Foreigners were net sellers of 146.5 billion won ($131.17 million) worth of shares on the main board.

** The won was quoted at 1,117.3 per dollar on the onshore settlement platform, 0.12% higher than its previous close at 1,118.6.

** In offshore trading, the won was quoted at 1,116.9 per dollar, unchanged from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,116.5.

** In money and debt markets, June futures on three-year treasury bonds rose 0.05 point to 110.99.

** The most liquid 3-year Korean treasury bond yield fell by 0.7 basis point to 1.103%, while the benchmark 10-year yield fell by 1.6 basis points to 1.989%.