March 29, 2016 / 6:11 AM / a month ago

S.Korean stocks end higher on Brexit deal hopes; cenbank cuts rates

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield rises

* Bank of Korea cuts rates to 1.25%

* For the midday report, please click

SEOUL, Oct 16 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares closed higher on Wednesday on rising hopes of a Brexit divorce deal, though worries over Sino-U.S. trade relations capped gains. The won weakened, while benchmark bond yields rose after its central bank cut interest rates.

** The Bank of Korea cut its policy interest rate on Wednesday, as expected, and left the door open for further easing although a split vote on the move suggested the next reduction may not be imminent.

** Two dissenting voters lowered expectation of a further rate-cut in the near future, said Park Sang-hyun, an analyst at HI Investment & Securities.

** Reduced likelihood of a so-called “no-deal Brexit” relieved investors, Park said, adding that Hong Kong issue capped the gains as it heightened worries over trade talks between the United States and China.

** Last-ditch talks between Britain and the European Union to get a Brexit deal ahead of a summit of the bloc’s leaders this week went on past midnight to Wednesday, but it was still unclear if London could avoid postponing its departure due on Oct. 31.

** China’s foreign ministry said that Beijing resolutely opposed new measures passed by the U.S. House of Representatives related to the Hong Kong protests and urged lawmakers to stop interfering.

** The Seoul stock market’s main KOSPI closed up 14.66 points, or 0.71%, at 2,082.83.

** Foreigners were net sellers of 46.3 billion won ($38.97 million) worth of shares on the main board.

** The won was quoted at 1,187.8 per dollar on the onshore settlement platform, 0.22% lower than its previous close at 1,185.2.

** In offshore trading, the won was quoted at 1,187.5 per U.S. dollar, down 0.2% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,186.6 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.50%, after U.S. stocks jumped . Japanese stocks also rose 1.20%.

** The KOSPI has risen 2.05% so far this year, and gained 6.5% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 513.81 million shares and, of the total traded issues of 889, the number of advancing shares was 504.

** The won has lost 6.1% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds fell 0.11 points to 110.68, while the 3-month Certificate of Deposit rate was quoted at 1.37%.

** The most liquid 3-year Korean treasury bond yield rose by 3.6 basis points to 1.313%, while the benchmark 10-year yield rose by 1.8 basis points to 1.511%. ($1 = 1,188.0000 won) (Reporting by Hayoung Choi; editing by Uttaresh.V)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below