November 21, 2018 / 7:02 AM / 21 days ago

S.Korean stocks cut losses on institutional buying; won down 0.5 pct

* KOSPI index slips, foreigners sell

* Korean won weakens versus U.S. dollar

* South Korea bond yields up

* For the midday report, please click

SEOUL, Nov 21 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index erased earlier losses to close slightly lower on Wednesday on institutional buying. The won weakened 0.5 percent against the dollar, while bond yields gained. ** The KOSPI closed 6.03 points, or 0.29 percent, lower at 2,076.55. Earlier in the session, it declined nearly 1.6 percent following a sell-off on Wall street in the previous session.

** The market snapped some of its early losses as institutions bought, said Han Ji-young, an analyst with Cape Investment & Securities. ** Local institutions were net buyers of 294.8 billion won worth of shares. ** South Korea’s exports from Nov. 1 to 20 rose 5.7 percent in annual terms, while imports grew 12.8 percent, according to the customs agency. ** The won was quoted at 1,131.6 per dollar on the onshore settlement platform, 0.51 percent weaker than its previous close at 1,125.8. ** In offshore trading, the won was quoted at 1,130.96 per U.S. dollar, down 0.15 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,109.85 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.31 percent, after U.S. stocks ended the previous session with mild losses. Japanese stocks weakened 0.35 percent. ** The KOSPI is down around 15.6 percent so far this year, and down by 7.60 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 262,007,000 shares and, of the total traded issues of 894, the number of advancing shares was 433. ** Foreigners were net sellers of 415,159 million won worth of shares. ** The U.S dollar has risen 6.05 percent against the won this year. The won’s high for the year is 1,053.55 per dollar on April 2, 2018 and low is 1,146.26 on Oct. 11, 2018. ** In money and debt markets, December futures on three-year treasury bonds fell 0.01 points to 108.75. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.7 percent, while the benchmark 3-year Korean treasury bond yielded 1.946 percent, higher than the previous day’s 1.94 percent. (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)

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