S.Korean stocks post worst fall in a month on Europe lockdown concerns – Reuters

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* KOSPI falls two.four%, most considering the fact that Aug. 20

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* Foreigners offer net 229.six bln won

* Korean received weakens towards U.S. greenback

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* South Korea benchmark bond generate falls

* For the midday report, remember to click

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SEOUL, Sept 22 (Reuters) – Spherical-up of South Korean economical marketplaces:

** South Korean shares dropped 2.four% on Tuesday, logging the sharpest drop in a thirty day period, as investors shunned riskier assets on issues about new coronavirus restrictions in Europe. The two the gained and the benchmark bond generate weakened.

** The benchmark KOSPI extended losses to a 2nd session to near down fifty six.eighty factors, or 2.38%, at two,332.fifty nine.

** With COVID-19 bacterial infections on the rise in Europe, international locations together with Denmark, Greece and England have tightened limits, spurring fears about fresh new lockdowns that could even further stress the financial system.

** MSCI’s broadest index of Asia-Pacific shares outdoors Japan was down 1.26%.

** Most of South Korea’s market heavyweights slumped, with the two premier – Samsung Electronics and SK Hynix – falling 1.7% and three.8%, respectively.

** Shares in South Korean biomedical business LabGenomics dropped to a two-thirty day period minimal, following reports claimed a U.S. lab had stopped applying the company’s COVID-19 examination kits owing to trustworthiness concerns.

** Meanwhile, LG Chem, a Tesla supplier, soared as significantly as 5.1% ahead of the electric powered-automobile maker’s “Battery Day” party on hopes for enhanced battery mobile buys from Tesla.

** The Financial institution of Korea said it sees no need to have to downgrade its latest economic expansion projections, even soon after the govt imposed tougher social distancing measures to suppress a spike in coronavirus situations in late August.

** South Korea documented 61 new coronavirus instances as of Monday midnight, decreased than 70 a working day earlier.

** Foreigners were being net sellers of 229.6 billion won worth of shares on the primary board.

** The won finished trading at one,one hundred sixty five. per dollar on the onshore settlement system, .sixty% lessen than its previous near.

** The most liquid 3-yr Korean treasury bond produce fell by .seven basis factors to .897%. (Reporting by Joori Roh Editing by Devika Syamnath)

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