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S.Korea won, stocks flat as markets cautious before Yellen speech, BOJ
December 19, 2016 / 2:19 AM / a year ago

S.Korea won, stocks flat as markets cautious before Yellen speech, BOJ

* Global risk-averse sentiment continues, pressuring the
market
    * Won down for four straight sessions

    SEOUL, Dec 19 (Reuters) - The South Korean won was
slightly down early on Monday as investors kept to the sidelines
ahead of a speech by Federal Reserve Chair Janet Yellen and the
outcome of the Bank of Japan's policy meeting.
    The won was quoted at 1,185.9 as of 0157 GMT,
down 0.2 percent compared to the previous close of 1,183.9, the
fourth straight session of losses. The currency hit a low of 
1,187.2, the weakest since late June of this year.
    South Korean shares were virtually unchanged with the Korea
Composite Stock Price Index (KOSPI) at 2,042.20 points.
    Jung Sung-yoon, a foreign exchange analyst at Hyundai
Futures, expects subdued trade as investors look ahead to global
events.
    Fed Chair Yellen will deliver a speech later in the day
while the Bank of Japan will announce the outcome of its two-day
policy review on Tuesday. 
    "There is still some possibility the won may suddenly fall
as investors are still wary of riskier assets," added Jung.
    Offshore investors were set to be net sellers, offloading
7.3 billion Korean won ($6.16 million) worth of KOSPI shares
near mid-session.
    Shares of Hotel Shilla Co Ltd fell nearly 4
percent as it failed to win duty-free store licence. Shinsegae
Inc, however, rose nearly 2 percent as it was
granted one. 
    Decliners outnumbered advancers 456 to 328.
    December futures on three-year treasury bonds gained
0.01 point to 109.51. 
    
                       0157 GMT    Prev close
 Dollar/won             1,185.9       1,183.9
 Yen/won             10.0833/10       10.0500
 *KTB futures            109.51        109.50
 KOSPI                 2,042.20      2,042.24
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Shri Navaratnam)

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