Reuters logo
S.Korea stocks tread water, won calm ahead of U.S. data
February 3, 2017 / 2:44 AM / 8 months ago

S.Korea stocks tread water, won calm ahead of U.S. data

* KOSPI likely to continue calm trading in near term
-analyst
    * Won calm ahead of U.S. jobs data release

    SEOUL, Feb 3 (Reuters) - South Korean shares and the
won moved cautiously early on Friday, staying close to
their previous closing levels as investors were in an observant
mood ahead of jobs data from the United States later in the
global day.
    The Korea Composite Stock Price Index (KOSPI) was
down 0.2 percent at 2,067.19 points as of 0232 GMT.
    The won stood at 1,146.5 to the dollar, little
changed from Thursday's close of 1,146.8.          
    Cho Byung-hyun, a stock analyst at Yuanta Securities said
even after the jobs data, the Kospi is likely to show limited
volatility in the near term.
    "The index movement will be very narrow as investors'
expectation about fundamental improvement in the global economy
and worries about declines in the IT sector due to profit-taking
and Trump's future policies all co-exist in the market," added
Cho.
    A local bank trader told Reuters investors were unlikely to
chase the won up aggressively on Friday ahead of the U.S. data
and the weekend. The U.S. jobs report will be released hours
after South Korean markets are closed.
    Meanwhile, investors shrugged off special prosecutors' plan
to execute a search warrant on President Park Geun-hye's office
linked to a political scandal that has engulfed the country.
 
    Offshore stock investors were set to be sellers, offloading
a net 47 billion won ($41.00 million) worth of KOSPI shares near
mid-session.
    Carmaker Hyundai Motor gained 1.1 percent while
LG Display lost more than 2 percent.
    Decliners outnumbered advancers 478 to 319.
    March futures on three-year treasury bonds were
unchanged at 109.43. 
    
                       0232 GMT    Prev close
 Dollar/won             1,146.5       1,146.8
 Yen/won             10.1796/91       10.1329
 *KTB futures            109.43        109.43
 KOSPI                 2,067.19      2,071.01
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Additional reporting by Yena Park)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below