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South Korean stocks slide to 4-week low, won weakens
November 27, 2017 / 6:52 AM / 14 days ago

South Korean stocks slide to 4-week low, won weakens

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SEOUL, Nov 27 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index skidded to a four-week low on Monday. The Korean won also nudged down on the local platform and bond yields fell. ** At 06:31 GMT, the KOSPI was down 36.52 points or 1.44 percent at 2,507.81. Selling by foreign investors has taken a heavy toll on the benchmark index as they dumped tech stocks, especially Samsung Electronics and SK Hynix, after Morgan Stanley said in a report that the memory chip boom is peaking.

** Shares of Samsung Electronics and SK Hynix lost 5.1 percent and 2.4 percent, respectively. ** The won was quoted at 1,088.6 per dollar on the onshore settlement platform, 0.29 percent weaker than its previous close at 1,085.4. ** In offshore trading, the won was quoted at 1,088.15 per U.S. dollar, down 0.34 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,085.45 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.84 percent, in part as investors were spooked by an extended selloff in Chinese stocks. Japanese stocks weakened 0.24 percent. ** The KOSPI is up around 25.6 percent so far this year, and up by 2.86 percent 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 282,240,000 shares, and of the total traded issues of 872, the number of advancing shares was 345. ** Foreigners were net sellers of 418,402 million won worth of shares. ** The U.S dollar has fallen 9.79 percent against the won this year. The won’s high for the year is 1,083.4 per dollar on November 24 2017 and low is 1,211.8 on January 3 2017. ** In money and debt markets, December futures on three-year treasury bonds rose 0.04 point to 107.99. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.5 percent compared with a previous close of 1.5 percent, while the benchmark 3-year Korean treasury bond yielded 2.16 percent, lower than the previous day’s 2.17 percent. (Reporting by Dahee Kim; Editing by Shri Navaratnam)

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