August 12, 2019 / 7:17 AM / 4 months ago

S.Korean stocks edge up on stabilised yuan; sentiment still fragile

* KOSPI index rises modestly, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Aug 12 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares inched up on Monday, helped by the yuan’s stronger-than-expected daily fixing, while Seoul’s decision to remove Japan from its fast-track trade partners failed to impress investors. The won and the benchmark bond yield dropped.

** The Seoul stock market’s main KOSPI ended up 4.54 points at 0.23% to 1,942.29.

** The People’s Bank of China set its daily midpoint for yuan trading at 7.0211 per dollar. That was weaker than Friday’s setting but stronger than market expectations.

** Meanwhile, South Korea said it would drop Japan from its “white list” of countries with fast-track trade status from September, a tit-for-tat move that deepens a diplomatic and trade rift between the two countries.

** The move’s impact was limited as South Korea rarely exports goods related to weapons production to Japan, said Lee Won, an analyst at Bookook Securities. Still, sentiment remained fragile with investors expecting U.S. President Donald Trump’s possible remarks against China may rekindle their trade tension, Lee added.

** Foreigners were net sellers of 26.4 billion won ($21.73 million) worth of shares on the main board. They were net sellers of KOSPI shares for ninth straight session, the longest since October last year.

** The won was quoted at 1,216.2 per dollar on the onshore settlement platform, 0.47% lower than its previous close at 1,210.5.

** In offshore trading, the won was quoted at 1,215.8 per U.S. dollar, down 0.2% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,215.1 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.05%, after U.S. stocks ended lower .

** The KOSPI has fallen 4.84% so far this year, and lost 9.1% 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.

** KOSPI index’s trading volume was 416.01 million shares and, of the total traded issues of 894, the number of advancing shares was 491.

** The won has lost 8.3% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds fell 0.01 points to 111.21, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield fell by 0.4 basis points to 1.185%, while the benchmark 10-year yield fell by 0.2 basis points to 1.287%.

** Markets in Japan and Singapore were closed for a holiday. ($1 = 1,214.7000 won) (Reporting by Hayoung Choi; editing by Uttaresh.V)

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