November 13, 2019 / 6:59 AM / 25 days ago

S.Korean stocks, won slide on trade deal concerns, Hong Kong unrest

* KOSPI shrinks, foreigners net sellers

* Korean won hits lowest since Nov. 1 vs dollar

* South Korea benchmark bond yield down

* For the midday report, please click

SEOUL, Nov 13 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares dropped on Wednesday as hopes for a Sino-U.S. trade deal dwindled after President Donald Trump gave no new details on negotiations with China and as unrest in Hong Kong escalated. The won and the benchmark bond yield fell.

** President Donald Trump on Tuesday dangled the prospect of completing an initial trade deal with China “soon,” but offered no information on the negotiations in a campaign-style speech touting his administration’s economic record.

** Trump’s speech failed to meet market expectations, disappointing investors, said Park Sang-hyun, an analyst at HI Investment & Securities. Unrest in Hong Kong and a plunge in Hong Kong shares also affected local movement, he added.

** The Seoul stock market’s main KOSPI index ended down 18.47 points, or 0.86%, at 2,122.45. The benchmark index fell as much as 1% in early trade, hitting the lowest since Nov. 4.

** South Korea’s top government think-tank on Wednesday called on the central bank to cut interest rates further and slashed its economic growth and inflation forecasts for this and next year.

** One of the two South Korean central bank board members who voted against a majority decision to cut interest rates in October said on Wednesday some indicators recently show the global manufacturing sector stabilising.

** Foreigners were net sellers of 27.9 billion won ($24.03 million) worth of shares on the main board.

** The won was quoted at 1,167.8 per dollar on the onshore settlement platform, 0.60% lower than its previous close at 1,160.8. In early trade, the currency fell to as low as 1169.0 per dollar, its lowest since Nov. 1.

** In offshore trading, the won was quoted at 1,167.0 per U.S. dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,166.4 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.05%, after U.S. stocks closed up marginally. Japanese stocks fell 0.85%.

** The KOSPI has risen 3.99% so far this year, and gained 4.4% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 655.80 million shares and, of the total traded issues of 905, the number of advancing shares was 282.

** The won has lost 4.5% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds rose 0.19 points to 110.05, while the 3-month Certificate of Deposit rate was quoted at 1.53% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield fell by 5.8 basis points to 1.510% in late afternoon trade, while the benchmark 10-year yield fell by 5.0 basis points to 1.792%.

$1 = 1,161.2300 won Reporting by Hayoung Choi; Editing by Aditya Soni

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