South Korean stocks end lower as virus spikes across Asia spur caution

SEOUL: Round-up of South Korean financial markets:

** South Korean shares closed lower on Monday as investor sentiment was dented by spikes in COVID-19 cases across Taiwan, Singapore and other parts in the region. The Korean won weakened, while the benchmark bond yield fell.

** The benchmark KOSPI ended 18.80 points, or 0.60%, lower at 3,134.52.

** Among the heavyweights, technology giant Samsung Electronics fell 0.62% and peer SK Hynix slid 0.84%. LG Chem and Naver rose 0.70% and 0.44%, respectively.

** Higher cases of the novel coronavirus fanned worries about potential production halt of chips in Taiwan, while inflation worries lingered, said Choi Yoo-june, an analyst at Shinhan Investment & Securities.

** Taiwan is racing to contain its worst outbreak, while chipmaking giant Taiwan Semiconductor Manufacturing Co Ltd said it was reducing movement of people across chip factories.

** Foreigners were net sellers of 599.7 billion won ($528.66 million) worth of shares on the main board.

** The won was quoted at 1,134.8 per dollar on the onshore settlement platform, down 0.55%.

** In offshore trading, the won was quoted at 1,134.5 per dollar, down 0.8%, while in non-deliverable forward trading its one-month contract was quoted at 1,134.2.

** The KOSPI has risen 9.08% so far this year, and gained 2.1% in the previous 30 trading sessions.

** The trading volume was 758.88 million shares. Of the total traded issues of 908, the number of advancing shares was 277.

** The won has lost 4.3% against the dollar this year.

** In money and debt markets, June futures on three-year treasury bonds rose 0.06 points to 111.01.

** The most liquid 3-year Korean treasury bond yield fell by 1.1 basis points to 1.105%, while the benchmark 10-year yield fell by 4.5 basis points to 2.115%.