July 18, 2018 / 6:59 AM / 5 months ago

S.Korean stocks fall on dim economic growth outlook; won bows to strong dollar

* KOSPI index tumbles, foreigners buy

* Korean won closes at lowest since Oct. 2017

* South Korea bond yields steady

* For the midday report, please click

SEOUL, July 18 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index tumbled on Wednesday after the country on Wednesday cut its economic growth forecast for this year, citing a feeble labour market recovery and global trade tensions. The won touched its lowest since Oct. 2017 as a bullish outlook from the head of the U.S. central bank buoyed the dollar. South Korean bond yields were barely changed. ** At 06:32 GMT, the KOSPI was down 7.81 points or 0.34 percent at 2,290.11.

** Korea Aerospace Industries plunged 9.3 percent after the Marine Corps said a military helicopter developed by the company crashed during a test flight on Tuesday in the southeastern city of Pohang, killing five people and injuring one. ** The won was quoted at 1,132.3 per dollar on the onshore settlement platform, 0.72 percent weaker than its previous close at 1,124.1. The currency marked the lowest close since October 2017. ** In offshore trading, the won was quoted at 1,131.71 per U.S. dollar, down 0.51 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,115.75 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.07 percent, after U.S. stocks ended the previous session with gains. Japanese stocks rose 0.43 percent. ** The KOSPI is down around 6.9 percent so far this year, and down by 5.78 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 395,774,000 shares and, of the total 892 traded issues, the number of advancing shares was 187. ** Foreigners were net buyers of 92,393 million won worth of shares. ** The U.S dollar has risen 6.13 percent against the won this year. The won’s high for the year is 1,053.55 per dollar on April 2 and low is 1,133.98 on July 13. ** In money and debt markets, September futures on three-year treasury bonds rose 0.01 points to 108.16. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65 percent, while the benchmark 3-year Korean treasury bond yielded 2.095 percent, barely changed from the previous day’s 2.10 percent. (Reporting by Joori Roh; Editing by Sunil Nair)

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