June 14, 2019 / 7:12 AM / 3 months ago

S.Korean stocks slip; all eyes on Fed, Trump-Xi meeting

* KOSPI index drops, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, June 14 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s KOSPI index declined on Friday as investors awaited the outcome of next week’s U.S. Federal Reserve meeting, amid uncertainties over a meeting of U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit later this month. The Korean won and the benchmark bond yield fell.

** The Seoul stock market’s main KOSPI closed down 7.72 points or 0.37%, at 2,095.43. For the week, the benchmark index added 1.1%.

** Investors have adapted a “wait-and-watch” mode as they await a clear signal from the Fed’s policy meeting, while watching the outcome of the Sino-U.S. meeting at the G20 summit (later this month), said Ha In-hwan, an analyst from Meritz Securities. The cautions would cap gains for some time, Ha added.

** The Federal Open Market Committee’s (FOMC) two-day policy meeting is set to begin on Tuesday. The Fed is not widely expected to cut rates when it meets on June 18-19, though investors will watch for new signals that a cut may come in July.

** Trump and Xi will likely meet on the sidelines of the Group of 20 summit later this month in Japan, a White House spokesman said on Thursday, although he suggested a meeting was not yet firmly scheduled.

** Foreigners were net sellers of 69.6 billion won ($58.74 million) worth of shares on the main board.

** The won was quoted at 1,185.3 per dollar on the onshore settlement platform, 0.19% lower than its previous close at 1,183.1. The currency lost 0.3% from a week ago.

** In offshore trading, the won was quoted at 1,185.0 per U.S. dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,183.7 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.46%, after U.S. stocks climbed . Japanese stocks rose 0.40%.

** The KOSPI has risen 2.66% so far this year, but lost 5.1% in the previous 30 trading sessions.

** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28% and the market capitalisation is 1,242.04 trillion won.

** The trading volume during the session on the KOSPI index was 465.63 million shares and, of the total traded issues of 891, the number of advancing shares was 279.

** The won has lost 5.9% against the U.S dollar so far this year.

** In money and debt markets, June futures on three-year treasury bonds rose 0.07 points to 110.25, while the 3-month Certificate of Deposit rate was quoted at 1.81%.

** The most liquid 3-year Korean treasury bond yield fell by 1.3 basis points to 1.467%, while the benchmark 10-year yield fell by 2.4 basis points to 1.588%. ($1 = 1,184.9500 won) (Reporting by Hayoung Choi; Editing by Rashmi Aich)

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