May 23, 2019 / 7:39 AM / 2 months ago

S.Korean stocks slip on widening Sino-U.S. tension

* KOSPI index drops, foreigners net buyers

* Korean won gains vs U.S. dollar; authorities seen selling dollars

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, May 23 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s KOSPI stock index fell on Thursday on growing anxiety over the Sino-U.S. conflicts involving Huawei Technologies, with the spillover impact dragging on a South Korean telecom operator. The Korean won strengthened, while the benchmark bond yield fell.

** The Seoul stock market’s main KOSPI closed down 5.27 points, or 0.26%, at 2,059.59.

** Media reports that telecom operators in the United Kingdom and Japan suspended or reduced their business with Huawei had a negative influence on investor sentiment, Lee Kyoung-min, an analyst at Daishin Securities, said in a note.

** South Korean telecom operator LG Uplus Corp, which uses Huawei gears, lost 6.4% on a local media report which said the U.S. government was lobbying Seoul not to use Huawei products amid a wider push by Washington to get its allies to boycott the Chinese telecom giant.

** British chip designer ARM halted relations with Huawei to comply with a U.S. blockade of the company, potentially crippling the Chinese telecom company’s ability to make new chips for its future smartphones.

** Japan’s Panasonic Corp said it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.

** Foreigners were net buyers of 85.3 billion won ($71.70 million) worth of shares on the main board.

** The won was quoted at 1,189.2 per dollar on the onshore settlement platform, 0.30% higher than its previous close at 1,192.8.

** South Korea’s finance minister said he was closely monitoring currency market, while forex dealers suspected authorities’ selling of U.S. dollars to curb the won’s weakness.

** In offshore trading, the won was quoted at 1,189.1 per U.S. dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,188.7 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.75%, after U.S. stocks weakened . Japanese stocks fell 0.62%.

** The KOSPI has risen 0.91% so far this year, but has lost 6.6% in the previous 30 trading sessions.

** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28% and the market capitalisation is 1,242.04 trillion won.

** The trading volume during the session on the KOSPI index was 500.23 million shares and, of the total traded issues of 896, the number of advancing shares was 218.

** The won has lost 6.2% against the U.S dollar so far this year.

** In money and debt markets, June futures on three-year treasury bonds rose 0.06 points to 109.77, while the 3-month Certificate of Deposit rate was quoted at 1.84%.

** The most liquid 3-year Korean treasury bond yield fell by 2.0 basis points to 1.648%, while the benchmark 10-year yield fell by 2.4 basis points to 1.806%. ($1 = 1,189.6000 won) (Reporting by Hayoung Choi; Editing by Rashmi Aich)

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