September 18, 2019 / 7:05 AM / a month ago

S.Korean stocks scale near 8-week high as oil prices cool; eyes on Fed

* KOSPI rises for 9th straight session, foreigners net buyers

* Korean won drops marginally vs U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Sept 18 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares ended near an eight-week peak on Wednesday as oil prices dipped on Saudi Arabia’s supply reassurance, with focus shifting to a U.S. Federal Reserve rate decision. The Korean won and the benchmark bond yield fell.

** Oil prices extended losses from the previous session after Saudi Arabia’s energy minister said the kingdom will restore lost oil production by the end of the month.

** Overnight fall in oil prices helped South Korean stocks, said Noh Dong-kil, an analyst at NH Investment and Securities.

** While a 25 basis point rate cut is seen as near-certain, investors look to the statement and economic projections from U.S. Federal Reserve policymakers, given signs of deep disagreements among them.

** The Seoul stock market’s main KOSPI ended up 8.40 points, or 0.41%, at 2,070.73. The benchmark index gained for a ninth straight session, posting its highest close since July 25.

** Foreigners were net buyers of 78.0 billion won ($65.48 million) worth of shares on the main board.

** The won was quoted at 1,191.3 per dollar on the onshore settlement platform, 0.05% lower than its previous close at 1,190.7.

** In offshore trading, the won was quoted at 1,191.3 per U.S. dollar, down 0.4% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,190.1 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.14%, after U.S. stocks closed up . Japanese stocks fell 0.18%.

** The KOSPI has risen 1.45% so far this year, and gained 2.2% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 596.63 million shares and of the total traded issues of 892, the number of advancing shares was 404.

** The won has lost 6.3% against the U.S dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds rose 0.05 points to 110.74, while the 3-month Certificate of Deposit rate was quoted at 1.54%.

** The most liquid 3-year Korean treasury bond yield fell by 0.3 basis points to 1.312%, while the benchmark 10-year yield fell by 3.6 basis points to 1.465%. ($1 = 1,191.2800 won) (Reporting by Hayoung Choi; Editing by Aditya Soni)

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