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S.Korean shares climb on U.S. stimulus talks, drop in local virus cases

10/19/2020 | 03:28am

* KOSPI rises, foreigners net buyers

* Korean won strengthens against U.S. dollar

* South Korea benchmark bond yield falls

SEOUL, Oct 19 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares gained on Monday as optimism over some progress in U.S. stimulus talks and a drop in domestic coronavirus cases lifted sentiment. The won strengthened, while the benchmark bond yield fell. ** By 0632 GMT, the benchmark KOSPI was up 5.21 points, or 0.22%, at 2,346.74. ** The market was buoyed by hopes of a U.S. fiscal package, but weaker-than-expected Chinese economic growth data capped gains, DS Investment & Securities analyst Na Jeong-hwan said. ** Index heavyweights SK Hynix and POSCO firmed 1.64% and 3.22%, respectively. ** U.S. House Speaker Nancy Pelosi said she was optimistic legislation on a coronavirus relief package could be pushed through before Election Day. ** South Korea reported 76 new coronavirus cases as of Sunday midnight, extending declines after logging triple-digit increases last week. ** Foreigners were net buyers of 43.4 billion won worth of shares on the main board. ** The won was quoted at 1,142.0 per dollar on the onshore settlement platform, 0.47% higher than its previous close at 1,147.4. ** In offshore trading, the won was quoted at 1,141.2 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,141.0. ** MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.22%. ** The KOSPI has risen 6.78% so far this year, and gained 0.7% in the previous 30 trading sessions. ** The trading volume during the session in the KOSPI index was 911.37 million shares. Of the total traded issues of 905, the number of advancing shares was 440. ** The won has gained 1.3% against the dollar so far in 2020. ** The most liquid 3-year Korean treasury bond yield rose by 0.9 basis points to 0.892%, while the benchmark 10-year yield fell by 4.8 basis points to 1.441%. (Reporting by Cynthia Kim, Jihoon Lee; Editing by Aditya Soni)

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