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CORRECTED-S.Korea won recovers, stocks inch down; listening out for Trump
January 10, 2017 / 2:30 AM / a year ago

CORRECTED-S.Korea won recovers, stocks inch down; listening out for Trump

(Corrects day of Trump newsconference to Wednesday)
    * Won's current rise is technical -analyst
    * Market expects to get hints about Trump's economic stance
from press conference

    SEOUL, Jan 10 (Reuters) - The South Korean won 
rebounded early on Tuesday in a technical adjustment following a
sharp fall in previous trading session, with traders in Seoul,
as elsewhere, apprehensive ahead of a press conference U.S.
president-elect Donald Trump will give on Wednesday.
    "The press conference will be very important as Trump is
highly likely to show his economic stance, which will then judge
the greenback's direction," said Kim Doo-un, a foreign exchange
analyst at Hana Futures.
    The won was quoted at 1,202.9 against the dollar
as of 0211 GMT, up 0.5 percent compared to Monday's close of
    South Korean shares were flat and the Korea Composite Stock
Price Index (KOSPI) was down 0.2 percent at 2,045.28
    Offshore investors were set to be net buyers for 10 straight
days, purchasing a net 15.4 billion Korean won ($12.80 million)
worth of KOSPI shares near mid-session. 
    Shares of Hotel Shilla dropped nearly 3 percent
to touch the lowest level since late February of 2013 as 
investors feared there will be less visitors from China due to
the deployment of U.S. Terminal High Altitude Area Defence
(THAAD) system in South Korea.
    Automobile manufacturer Hyundai Motor gained 1.3
    Decliners outnumbered advancers 513 to 277.
    March futures on three-year treasury bonds gained
0.04 point to 109.57. 
                       0211 GMT    Prev close
 Dollar/won             1,202.9       1,208.3
 Yen/won             10.3538/78       10.3615
 *KTB futures            109.57        109.53
 KOSPI                 2,045.28      2,048.78
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Simon Cameron-Moore)

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