February 11, 2016 / 6:31 AM / 23 days ago

S.Korean stocks surge on trade optimism, growing rate cut bets

* KOSPI index soars, foreigners net buyers

* Korean won strengthens vs U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Aug 30 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares jumped nearly 2% on Friday as the United States and China looked set to restart their trade talks, while the Bank of Korea indicated that a rate cut was around the corner. The Korean won and the benchmark bond yield gained.

** The South Korean market opened higher on optimism about Sino-U.S. trade talks and the central bank’s stance on rate cut provided a positive influence, said Seo Sang-young, an analyst at Kiwoom Securities.

** South Korea’s central bank kept its benchmark interest rate unchanged but is widely expected to ease at the next meeting to support the faltering economy. Bank of Korea chief Lee Ju-yeol said there were two dissenters to the decision, a move seen signalling a rate cut at the next meeting.

** The Seoul stock market’s main KOSPI closed up 34.38 points or 1.78% at 1,967.79 points, after soaring as much as 1.96% in early trade.

** For the week, the benchmark index climbed 1%, gaining for a second straight week, but is down 2.8% on a monthly basis.

** Foreigners were net buyers of 224.5 billion won ($185.1 million) worth of shares on the main board.

** The won was quoted at 1,211.2 per dollar on the onshore settlement platform, 0.43% higher than its previous close.

** The currency was little changed from a week ago against the dollar. But for the month, the won has dropped 2.3%, marking a second consecutive monthly loss. The won has lost 7.9% against the dollar so far this year.

** In offshore trading, the won was quoted at 1,210.4 per U.S. dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,209.4 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.76%, after U.S. stocks rallied . Japanese stocks rose 1.19%.

** The KOSPI has fallen 3.59% so far this year, and lost 6.7% 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 in the KOSPI index was 302.40 million shares and, of the total traded issues of 891, the number of advancing shares was 695.

** In money and debt markets, September futures on three-year treasury bonds fell 0.09 points to 111.12, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield rose by 0.2 basis points to 1.169%, while the benchmark 10-year yield gained 2.7 basis points to 1.275%.

($1 = 1,212.6600 won)

Reporting by Hayoung Choi; Editing by Sriraj Kalluvila

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