May 15, 2020 / 7:33 AM / 22 days ago

S.Korean shares edge higher on China's factory data, post weekly loss

* KOSPI rises, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, May 15 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares edged higher on Friday as Chinese factory data showed signs of a recovery in the world’s second-largest economy, although simmering Sino-U.S. tensions capped gains. ** The Seoul stock market’s main KOSPI closed up 2.32 points, or 0.12%, to 1,927.28. But it dropped 1% for the week, its second straight weekly loss, having rebounded sharply in April from coronavirus-driven routs. ** China’s factory output rose for the first time this year as the world’s second-largest economy slowly emerged from its coronavirus lockdown, although consumption remained depressed amid increased job losses. ** U.S. President Donald Trump signalled a further deterioration of his relationship with China over the novel coronavirus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world’s second largest economy. ** South Korea’s finance ministry pledged on Friday to introduce more measures to minimize the employment shock from the COVID-19 pandemic, saying risks to the economy were intensifying as domestic and global demand slump. ** South Korea reported 27 new coronavirus cases on Friday amid the country’s efforts to contain an outbreak centred around bars and nightclubs in Seoul after weeks of nearly no new domestic cases. ** Stocks recovered from early losses after better-than-expected factory data from China, South Korea’s largest trading partner, said Daeshin Securities’ analyst Lee Kyoung-min, adding that a sharp increase in institutional investors’ equity purchases buoyed the index. ** Foreigners were net sellers of 442.5 billion won ($359.44 million) worth of shares on the main board. ** The won closed trading at 1,231.0 per dollar on the onshore settlement platform, 0.24% lower than its previous close at 1,228.0. ** In offshore trading, the won was quoted at 1,230.8 per dollar, down 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,230.7. ** The trading volume during the session in the KOSPI index was 850.91 million shares. Of the total traded issues of 896, the number of advancing shares was 492. ** In money and debt markets, June futures on three-year treasury bonds fell 0.01 point to 112.07. ** The most liquid 3-year Korean treasury bond yield rose by 0.5 basis point to 0.876%, while the benchmark 10-year yield rose by 0.4 basis point to 1.386%. ($1 = 1,231.0900 won) (Reporting by Jihoon Lee; Editing by Aditya Soni)

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