November 15, 2018 / 8:33 AM / 5 months ago

S.Korean stocks jump on hopes of Trump-Kim summit, won gains

* KOSPI index climbs, foreigners sell

* Korean won rises versus U.S. dollar

* South Korean bond yields up

* For the midday report, please click

SEOUL, Nov 15 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index closed 1 percent higher on Thursday, boosted by hopes of a second meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un next year to follow up the Singapore summit held in June. The Korean won and bond yields also rose.

** At 07:32 GMT, the KOSPI closed up 20.01 points or 0.97 percent at 2,088.06. The market closed one hour later than usual on account of nationwide college entrance exams.

** U.S. Vice President Mike Pence said on Thursday Trump plans to meet Kim in the new year but won’t repeat past mistakes of allowing promises to be broken on pledges to end arms programmes.

** After the report that the summit between the United States and North Korea is at planning stage, KOSPI turned bullish as shares exposed to North Korea began to rise, said Jeong Dai, an analyst at Meritz Securities. ** Hyundai Elevator soared 9.3 percent, while Hyundai Rotem and Sungshin Cement climbed 5.4 percent and 7.1 percent, respectively.

** Shares of South Korean firms engaged in duty free businesses surged after local media reported that China lifted a ban on the online sale of group tour programs to South Korea; Tonymoly closed up nearly 30 percent, while duty free shares such as Shinsegae International and Hotel Shilla ended up 10.4 percent and 13 percent, respectively.

** The won was quoted at 1,129.2 per dollar on the onshore settlement platform, 0.45 percent firmer than its previous close at 1,134.3. ** In offshore trading, the won was quoted at 1,127.96 per U.S. dollar, up 0.33 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,108.7 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.19 percent, after U.S. stocks ended the previous session with mild losses. Japanese stocks weakened 0.2 percent. ** The KOSPI is down around 16.2 percent so far this year, and down by 11.58 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 346,712,000 shares and, of the total traded issues of 896, the number of advancing shares was 499. ** Foreigners were net sellers of 169,462 million won worth of shares. ** The U.S. dollar has risen 5.78 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 fell 0.08 points to 108.72. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.7 percent, while the benchmark 3-year Korean treasury bond yielded 1.945 percent, higher than the previous day’s 1.92 percent.

Reporting by Hayoung Choi, Yuna Park; Editing by Amrutha Gayathri

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