* KOSPI rises, foreigners net sellers
* Korean won weakens against the U.S. dollar
* South Korea benchmark bond yield falls
* For the midday report, please click
SEOUL, July 28 (Reuters) – Round-up of South Korean financial markets:
** South Korean shares ended higher on Wednesday, despite concerns over China’s tech rout and domestic COVID-19 cases, while investors awaited cues from the U.S. Federal Reserve’s policy meeting. The won and the benchmark bond yield weakened.
** The KOSPI closed up 4.33 points, or 0.13%, at 3,236.86, following a 0.24% gain on Tuesday.
** Technology giant Samsung Electronics rose 0.89%, leading gains in the benchmark, ahead of its quarterly earnings report. Peer SK Hynix dropped 1.72%.
** Chinese major stock indexes extended losses, weighing on the markets across Asia, amid growing fears about a government crackdown on tech and other sectors.
** Investors appeared to have shrugged off 1,896 new COVID-19 cases reported in South Korea, a record daily increase, even after the government stepped up virus-related distancing regulations.
** Markets will be closely watching for any hints on when the Fed will start reducing its purchases of government bonds and any fresh insight into its views on inflation and economic growth.
** Lifting sentiment was the International Monetary Fund’s sharp upgrade in its growth projection for South Korea to 4.3% for this year, a more optimistic view than that of the finance ministry and the central bank.
** Foreigners were net sellers of 421.5 billion won ($365.02 million) worth of shares on the main board.
** The won ended at 1,154.6 per dollar on the onshore settlement platform, 0.39% lower than its previous close at 1,150.1.
** In offshore trading, the won was quoted at 1,154.8, while in non-deliverable forward trading its one-month contract was quoted at 1,155.3.
** In money and debt markets, September futures on three-year treasury bonds fell 0.07 points to 110.26.
** The benchmark 10-year yield fell by 1.5 basis points to 1.853%.
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