April 2, 2018 / 7:00 AM / a year ago

S.Korean stocks erase gains, won hits highest close in 3-1/2 yrs

* KOSPI index closes lower, foreigners sell

* Korean won rises against U.S. dollar

* South Korean bond yields rise

SEOUL, April 2 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index ended slightly lower on Monday, wiping off earlier gains in the session. The Korean won firmed to near 3-1/2-year high, while bond yields also rose. ** At 06:30 GMT, the KOSPI closed down 1.69 points or 0.07 percent at 2,444.16. The benchmark index erased earlier gains amid worries about trade tensions between the United States and China. Beijing increased tariffs by up to 25 percent on 128 U.S. products, escalating a spat between the world’s biggest economies in response to U.S. duties on imports of aluminium and steel. ** The won was quoted at 1,056.6 per dollar on the onshore settlement platform, 0.65 percent firmer than its previous close at 1,063.5. It was the highest closing level since Oct. 30, 2014. ** In offshore trading, the won was quoted at 1,055.04 per U.S. dollar, up 0.45 percent from the previous day, while in one-year non-deliverable forwards it fetched 1,041.45 per dollar. ** The KOSPI is down around 0.9 percent so far this year, and up by 2.12 percent in the previous 30 days. ** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 percent and the market capitalisation is 1,242.04 trillion won. ** The trading volume during the session on the KOSPI index was 386,502,000 shares, and of the total traded issues of 888, the number of advancing shares was 351. ** Foreigners were net sellers of 27,147 million won worth of shares. ** The U.S. dollar has fallen 1.02 percent against the won this year. The won’s high for the year is 1,056.67 per dollar on April 2 2018 and low is 1,098.4 on February 6 2018. ** In money and debt markets, June futures on three-year treasury bonds fell 0.04 points to 107.67. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65 percent, while the benchmark 3-year Korean treasury bond yielded 2.232 percent, higher than the previous day’s 2.22 percent. (Reporting by Dahee Kim; Editing by Amrutha Gayathri)

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