July 20, 2020 / 3:23 AM / 19 days ago

S.Korea shares dip on uncertainty over recovery package in Europe, U.S.

    * KOSPI falls, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, July 20 (Reuters) - Round-up of South Korean
financial markets:
 
** South Korean shares fell on Monday as investors worried about
deadlocked talks in Europe over a recovery package to help
economies ride out the fallout of the COVID-19 pandemic. The
Korean won strengthened, while the benchmark bond yield fell.
 
** As of 0248 GMT, the Seoul stock market's main KOSPI        
was down 7.09 points, or 0.32%, at 2,194.10.
 
** A delay by European Union leaders to put together a recovery
package and uncertainty over more fiscal stimulus in the United
States hurt investor sentiment, said Seo Sang-young, an analyst
at Kiwoom Securities.
    
** EU leaders stood at an impasse on Sunday after three days of
haggling over a plan to revive economies throttled by the
COVID-19 pandemic, but the chairman of their near-record-length
summit urged them to make one last push on "mission
impossible".                
 
** Foreigners were net sellers of 133.9 billion won worth of
shares on the main board. 
    
** Shares of internet service provider Naver             and
messenger app operator Kakao             dropped 4.3% and 4.1%,
respectively. Market heavyweight Samsung Electronics            
declined 0.37%.
 
** The won was quoted at 1,204.2 per dollar on the onshore
settlement platform           , 0.07% higher than its previous
close at 1,205.1.
 
** In offshore trading, the won        was quoted at 1,204.2 per
U.S. dollar, down 0.1% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,203.7 per dollar.
 
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.07%, after the Dow        fell 0.23%
on Friday. Japanese stocks         slipped 0.35%.
 
** The KOSPI dropped 0.16% so far this year, but gained 0.9% in
the previous 30 trading sessions.
 
** The trading volume during the session in the KOSPI index
        was 359.65 million shares. Of the total traded issues of
901, the number of advancing shares was 287.
 
** The won weakened 4% against the dollar so far this year.
 
** In money and debt markets, September futures on three-year
treasury bonds         rose 0.03 points to 112.18.
 
** The most liquid 3-year Korean treasury bond yield fell by 0.5
basis points to 0.807% in early trade.

 (Reporting by Cynthia Kim and Jihoon Lee, Editing by Sherry
Jacob-Phillips)
  
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