November 30, 2018 / 7:13 AM / 13 days ago

S.Korean stocks drop as chipmakers fall; Trump-Xi meeting awaited

* KOSPI index closes down, foreigners sell

* Korean won falls vs dollar

* South Korean bond yields edge higher

* For the midday report, please click

SEOUL, Nov 30 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s KOSPI stock index closed lower on Friday, weighed down by chipmakers, as global investors awaited the high-stakes trade talks between President Xi Jinping and Donald Trump this weekend. The Korean won edged down, while bond yields rose.

** South Korea’s central bank raised its policy interest rate on Friday for the first time in a year in a widely expected move aimed mainly at containing a boom in parts of the country’s property market. Analysts said heightened global markets turmoil over the past few months has made it difficult for the Bank of Korea (BOK) to find the perfect timing to adjust policy.

** Growth in China’s vast manufacturing sector stalled for the first time in over two years in November as new orders shrank. The official Purchasing Managers’ Index (PMI), released on Friday, fell to 50 in November, missing market expectations and down from 50.2 in October.

** At 06:32 GMT, the KOSPI closed down 17.24 points or 0.82 percent at 2,096.86. The benchmark index rose 1.9 percent on a weekly basis, while it rose 3.3 percent on a monthly basis, posting the biggest monthly gain since January.

** KOSPI fell as semiconductor shares dipped towards the end of the session, said Kim Ji-hyung, an analyst at Hanyang Securities. BOK’s rate hike had limited effect as it was widely expected, Kim added.

** South Korea's chip giants Samsung Electronics and SK Hynix closed down 3.0 percent and 2.7 percent, respectively. World Semiconductor Trade Statistics (WSTS) said in its report bit.ly/2QpP1SU that it forecasts the memory segment to "show a slightly negative growth after the extraordinary growth in 2018."

** Hyundai Motor Co closed up 7.0 percent, posting its biggest gain since March 21, 2017, after the company said it would buy back 255 billion won ($228.3 million) worth of common and preferred stocks to stabilise its stock prices and boost investor returns.

** Samsung Electronics’ supplier Toptec Co Ltd plunged down 19.6 percent after South Korean prosecutors on Thursday charged the chief executive and eight employees of the company for selling information earlier this year about Samsung’s organic light-emitting diode (OLED) panels.

** South Korea’s construction machinery manufacturer Doosan Bobcat Inc hit a near four-month low as parent company Doosan Infracore Co Ltd said it sold shares worth 149.1 billion won ($133.08 mln) in Doosan Bobcat. Doosan Bobcat ended 7.3 percent lower.

** The won was quoted at 1,121.2 per dollar on the onshore settlement platform, 0.18 percent weaker than its previous close at 1,119.2. For the week, the currency rose 0.8 percent, while it jumped 1.6 percent on a monthly basis, hitting its biggest monthly gain since March 31.

** In offshore trading, the won was quoted at 1,120.67 per U.S. dollar, down 0.37 percent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,100.35 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.22 percent, after U.S. stocks ended the previous session with mild losses. Japanese stocks rose 0.4 percent.

** The KOSPI is down around 14.3 percent so far this year, and up by 1.59 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 410,584,000 shares and, of the total traded issues of 894, the number of advancing shares was 365.

** Foreigners were net sellers of 140,695 million won worth of shares.

** The U.S. dollar has risen 5.09 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 October 11 2018.

** In money and debt markets, December futures on three-year treasury bonds rose 0.01 points to 108.98.

** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.88 percent, while the benchmark 3-year Korean treasury bond yielded 1.893 percent, higher than the previous day’s 1.89 percent. (Reporting by Joori Roh, Yuna Park; Editing by Amrutha Gayathri)

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