February 17, 2020 / 7:37 AM / 2 months ago

S.Korean shares end flat as China's stimulus offsets economic damage worries

* KOSPI flat, foreigners net sellers

* Korean won edges down versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Feb 17 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares closed flat on Monday as China’s move to cut a key interest rate offset worries about the economic damage from the rapidly-spreading coronavirus outbreak. The Korean won and the benchmark bond yield fell.

** The KOSPI closed down 1.42 points, or 0.06%, at 2,242.17.

** China’s central bank cut the rate on its medium-term lending, paving the way for a reduction in the benchmark loan prime rate, as policymakers sought to calm nerves.

** The death toll in mainland China reached 1,770 as of Sunday-end, up by 105 from the previous day, while there were 2,048 new cases, bringing the total count to 70,548.

** Japan and Singapore appeared to be on the brink of recession as the epidemic disrupted tourism and supply chains around the world.

** South Korea’s LG Chem ended 1.5% higher after touching a more than two-year high during the session as a U.S. trade panel preliminarily ruled in favour of the battery maker.

** Shares of companies exposed to K-pop boyband BTS surged ahead of the group’s new album release this week.

** Foreigners were net sellers of 229.6 billion won ($194.07 million) worth of shares on the main board.

** The won was quoted at 1,183.9 per dollar on the onshore settlement platform, 0.08% lower than its previous close at 1,183.0.

** In offshore trading, the won was quoted at 1,183.9 per U.S. dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,183.2 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.25%, after U.S. stocks ended mixed on Friday. Japanese stocks fell 0.69%.

** The KOSPI has risen 2.02% so far this year, and gained 2.1% in the previous 30 trading sessions.

** The trading volume was 453.09 million shares. Of the total traded issues of 903, the number of advancing shares was 319.

** The won has lost 2.3% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.09 point to 110.69, while the 3-month Certificate of Deposit rate was quoted at 1.42% in late afternoon trade. ** The most liquid 3-year Korean treasury bond yield fell by 0.6 basis points to 1.323% in late afternoon trade, while the benchmark 10-year yield fell by 2.5 basis points to 1.627%. ($1 = 1,183.9300 won) (Reporting by Hayoung Choi; editing by Uttaresh.V)

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