Reuters logo
S.Korea stocks, won flat; BOJ decision awaited
July 29, 2016 / 2:41 AM / in a year

S.Korea stocks, won flat; BOJ decision awaited

* Risk rally to continue until more global events in August
    * KOSPI, won set to mark weeks of gains

    SEOUL, July 29 (Reuters) - South Korean shares and the won
 were flat early on Friday, with market players awaiting
the outcome of a Bank of Japan policy meeting that could see it
expand monetary stimulus for the world's third-largest economy.
    The Korea Composite Stock Price Index (KOSPI) was
flat at 2,021.40 points as of 0216 GMT.    
    The won also stood flat at 1,123.5, nearly
unchanged compared with Thursday's close of 1,124.4.
    "I don't see much (from the BOJ) that will snap the KOSPI's
recent rising trend thanks to ample global liquidity," Kim
Sung-hwan, an analyst at Bookook Securities said.
    "Until Yellen speaks at Jackson Hole and the U.S. jobs data
release in August, the greenback is likely to stay calm,
supporting riskier assets broadly."
    Federal Reserve Chair Janet Yellen plans to speak at the
U.S. central bank's Jackson Hole conference on Aug. 26 which has
been the venue for major policy announcements. 
    The KOSPI and won were both set to end the week up.
    Offshore investors were expected to be buyers for 17
straight days, purchasing a net 163.5 billion Korean won
($145.54 million) worth of KOSPI shares near mid-session. 
    The sub-index for electrics and electronics rose 2.4
percent with Samsung Electronics Co Ltd up 2.7
percent and SK Hynix Inc  up 1.8 percent.
    Decliners outnumbered advancers 469 to 316.
    September futures on three-year treasury bonds held
steady at 111.17. 
                       0216 GMT    Prev close
 Dollar/won             1,123.5       1,124.4
 Yen/won             10.7895/64       10.6715
 *KTB futures            111.18        111.18
 KOSPI                 2,021.40      2,021.10
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Jacqueline Wong)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below