News Formal

Seoul: Stocks close over 1% lower on record selling by foreigners

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

[SEOUL] South Korean shares closed more than 1 per cent lower on Monday, erasing previous session's gains, on a huge foreign sell-off due to economic concerns in the backdrop of downbeat July factory data and tougher coronavirus-led social distancing measures. Read more at The Business Times.

Slower-than-expected July data, which did not reflect the resurgence in Covid-19 cases, raised worries that economic indicators could worsen going forward, while foreigners' selloff was focused in the electronics sector, Daishin Securities analyst Lee Kyoung-min said.

Industrial output in South Korea, which reported 248 new cases, rose at a much slower pace in July and missed forecasts.The won ended at 1,187.8 per US dollar on the onshore settlement platform, down 0.29 per cent. The currency edged up 0.3 per cent on a monthly basis, marking the third consecutive month of gains.

In offshore trading, the won was quoted at 1,187.6 per US dollar, down 0.6 per cent from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,187.6.The most liquid three-year Korean treasury bond yield rose by 4.1 basis points to 0.936 per cent, while the benchmark 10-year yield rose by 2.2 basis points to 1.508 per cent.For daily updates on weekdays and specially selected content for the weekend.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tokyo: Stocks open higher on Monday[TOKYO] Tokyo stocks opened higher on Monday helped by rallies on Wall Street with a higher yen against the dollar capping the upside. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Europe: Stocks open firmer[PARIS] European stock markets opened firmer Monday, supported by continued gains on US and Asian bourses. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Hong Kong: Stocks rally at open[HONG KONG] Hong Kong stocks rallied more than one per cent after opening Monday morning as data showed a better-than-expected improvement in Chinese factory activity during August. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Keppel, Sabana Reit, ESR-Reit, OCBC, DBS, Wing Tai, CDLHTTHE following companies saw new developments that may affect trading of their securities on Monday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Hong Kong dividend stocks no longer in favour as payouts slashedDIVIDEND investors are having to rethink their strategies in Hong Kong's stock market, as companies mired in a pandemic-driven recession are slashing payouts more than before. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Japan stocks a buy for some funds betting on policy continuity[TOKYO] Market watchers seem to be voicing a near consensus that Prime Minister Shinzo Abe's resignation won't immediately mean swerves in Japan's economic agenda. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »