February 28, 2019 / 7:01 AM / 4 months ago

S.Korean stocks fall as Trump-Kim summit fails to yield agreement

* KOSPI index falls, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Feb 28 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s KOSPI stock index extended its loss on Thursday on growing geopolitical risk after the summit between the United States and North Korea signalled dissonance, failing to produce an agreement in the end. The Korean won weakened, while the benchmark bond yield rose.

** The Seoul stock market’s main index closed down 39.35 points or 1.76 percent to 2,195.44 points. The benchmark index posted its biggest daily percentage loss since late October, 2018. ** No agreement was reached in the summit between the U.S. President Donald Trump and North Korean leader Kim Jong Un, according to White House.

** The possible dissonance between the United States and North Korea could provide reason for profit taking, said Lee Kyoung-min, an analyst at Daishin Securities. It seems psychological anxiety has grown, Lee added.

** Foreigners were net sellers of 257.5 billion won worth of shares on the main board.

** South Korea’s central bank kept monetary policy steady on Thursday in the face of rising economic risks and muted inflation. Markets barely reacted to the widely-expected rate decision.

** Shares of South Korean chip giants Samsung Electronics and SK Hynix stumbled on plunging prices of memory chips.

** The won was quoted at 1,124.7 per dollar on the onshore settlement platform, 0.50 percent lower than its previous close at 1,119.1.

** In offshore trading, the won was quoted at 1,124.5 per U.S. dollar, down 0.6 percent from the previous day, while in one-year non-deliverable forward trading its one-month contract was quoted at 1,123.4 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.48 percent, after U.S. stocks closed down. Japanese stocks fell 0.79 percent.

** The KOSPI has risen 7.82 percent so far this year, and gained 7.7 percent in the previous 30 trading sessions.

** 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 459.26 million shares and, of the total traded issues of 896, the number of advancing shares was 116.

** The won has lost 0.8 percent against the U.S dollar this year.

** In money and debt markets, March futures on three-year treasury bonds fell 0.02 points to 109.23, while the 3-month Certificate of Deposit rate was quoted at 1.89 percent.

** The most liquid 3-year Korean treasury bond yield rose 0.5 basis points to 1.813 percent, while the benchmark 10-year yield increased 1.1 basis points to 1.996 percent.

** South Korean financial markets are closed on Friday for a public holiday. Markets will resume trade at normal hours on Monday, March 4. For the latest market reports from South Korea, please click and. (Reporting by Hayoung Choi; Editing by Shreejay Sinha)

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