BOK purchases 2 tln won worth of state bonds
SEOUL, March 9 (Yonhap) -- The Bank of Korea (BOK) on Tuesday purchased 2 trillion won (US$1.76 billion) worth of government bonds as part of its market-stabilizing efforts amid the coronavirus crisis.
According to an announcement posted on its website, an auction of the first batch of BOK's 7 trillion won bond purchase program within the first half was closed after attracting bids of more than 4.2 trillion won.
The bank bought three-year government bonds at 1.17 trillion won, five-year Treasurys at 140 billion won and 10-year bonds at 690 billion won.
Last month, BOK announced its bond-buying plan for the purpose of market stability, while South Korea has increased sales of state debts to cushion the impact of the coronavirus pandemic.
BOK Gov. Lee Ju-yeol earlier said the BOK would "actively" deal with its purchase of government bonds.
Despite the purchase, the local bond market remained volatile.
The return on 10-year Treasurys came to 2.034 percent Tuesday, up 0.6 basis point from the previous session. On the previous day, the yield topped 2 percent for the first time since March 2019.
The yield on five-year state bonds rose 9.5 basis points to 1.592 percent on Tuesday.
brk@yna.co.kr
(END)
-
(Yonhap Interview) BTS producer encourages anticipation for future messages from group
-
BLACKPINK star Jisoo tests positive for COVID-19, to miss world tour stop in Osaka
-
(News Focus) From hip-hop idols to global superstars, BTS shatters records over decade
-
3 EXO members file antitrust complaint against SM Entertainment
-
(LEAD) N. Korea releases rare photos of botched spy satellite launch
-
(Yonhap Interview) BTS producer encourages anticipation for future messages from group
-
Fifty Fifty chart on Billboard Hot 100 for 10th week with 'Cupid'
-
BLACKPINK star Jisoo tests positive for COVID-19, to miss world tour stop in Osaka
-
(News Focus) From hip-hop idols to global superstars, BTS shatters records over decade
-
(LEAD) 4 Chinese, 4 Russian military planes enter S. Korea's air defense zone without notice: S. Korean military
-
4 Chinese, 4 Russian military planes enter S. Korea's air defense zone without notice: S. Korean military
-
(LEAD) S. Korea wins seat on U.N. Security Council for 2024-25
-
(LEAD) 4 Chinese, 4 Russian military planes enter S. Korea's air defense zone without notice: S. Korean military
-
Yoon gov't unveils National Security Strategy highlighting N.K. threat
-
S. Korea expresses 'stern' protest to China, Russia over air defense zone incursion