S.Korea stocks snap four-day rally on coronavirus worries, BOK forecast cut

* KOSPI falls 1%, foreigners net sellers

* Korean won gains against U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Aug 27 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares fell 1% on Thursday and snapped a four-day winning streak, as the country recorded its highest daily coronavirus cases since early March and the central bank sharply downgraded its economic outlook. Both the won and the benchmark bond yield rose.

** The benchmark KOSPI closed down 24.87 points, or 1.05%, at 2,344.45.

** The country on Thursday urged businesses to have employees work from home after reporting 441 new coronavirus cases, the highest daily number since early March, as it also flagged the risks of new clusters at call centres and logistics warehouses.

** The Bank of Korea kept interest rates steady on Thursday, but sharply downgraded its 2020 growth outlook. It also kept the door open for more monetary stimulus to support an economy hard hit by the pandemic.

** Market focus is also on U.S. Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole symposium due later on Thursday, said Lee Kyoung-min, analyst at Daishin Securities.

** Foreigners were net sellers of 23.8 billion won worth of shares on the main board.

** The won ended trading at 1,185.0 per dollar on the onshore settlement platform, 0.15% higher than its previous close at 1,186.8.

** In offshore trading, the won was quoted at 1,184.3 per dollar, up 0.0% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,184.8.

** MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.38%.

** In money and debt markets, September futures on three-year treasury bonds fell 0.05 points to 112.08.

** The most liquid 3-year Korean treasury bond yield rose by 1.9 basis points to 0.854%, while the benchmark 10-year yield rose by 2.1 basis points to 1.426%.

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