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South Korean stocks rise, won strengthens to 2-1/2-yr high
November 22, 2017 / 6:58 AM / 22 days ago

South Korean stocks rise, won strengthens to 2-1/2-yr high

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SEOUL, Nov 22 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index advanced on Wednesday. The Korean won rose and bond yields climbed. ** At 06:32 GMT, the KOSPI was up 9.81 points or 0.39 percent at 2,540.51. ** The won was quoted at 1,089.1 per dollar on the onshore settlement platform, the highest since May 19, 2015. It was 0.62 percent firmer than its previous close at 1,095.8. The currency’s strong trend is expected to persist for a while as many traders are betting on strong foreign demand for local equities. ** In offshore trading, the won was quoted at 1,087.97 per U.S. dollar, up 0.2 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,085.44 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.54 percent, after U.S. stocks put on a strong performance overnight. Japanese stocks rose 0.48 percent. ** The KOSPI is up around 24.9 percent so far this year, and 3.98 percent higher 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 477,887,000 shares, and of the total traded issues of 873, the number of advancing shares was 341. ** Foreigners were net buyers of 40,038 million won worth of shares. ** The U.S dollar has fallen 9.83 percent against the won this year. The won’s high for the year is 1,088.31 per dollar on November 22 2017 and low is 1,211.8 on January 3 2017. ** In money and debt markets, December futures on three-year treasury bonds fell 0.01 point to 107.94. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.48 percent compared with a previous close of 1.47 percent, while the benchmark 3-year Korean treasury bond yielded 2.171 percent, higher than the previous day’s 2.16 percent. (Reporting by Dahee Kim; Editing by Shri Navaratnam)

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