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Seoul: Stocks gain for third straight day on US stimulus hopes

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[SEOUL] South Korean shares rose on Wednesday as renewed hopes for additional US stimulus helped investors look past sluggish preliminary trade data and a rise in coronavirus infections. The won and the benchmark bond yield both rose. Read more at The Business Times.

South Korean exports dropped 5.8 per cent in the first 20 days of October, returning to contraction after growing in September, government data showed on Wednesday.

Meanwhile, the country reported 91 new coronavirus cases as of Tuesday midnight, higher than 58 a day earlier.The won ended trading at 1,131.9 per US dollar on the onshore settlement platform, 0.66 per cent higher than its previous close of 1,139.4. In offshore trading, the won was quoted at 1,131.3 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,131.1.The most liquid three-year Korean treasury bond yield rose by 2.4 basis points to 0.936 per cent, while the benchmark 10-year yield rose by 6.2 basis points to 1.523 per cent.For daily updates on weekdays and specially selected content for the weekend.

 

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