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S.Korea won's gain capped by N.Korea worries, market cautious
May 15, 2017 / 2:52 AM / 7 months ago

S.Korea won's gain capped by N.Korea worries, market cautious

    * Worries over N.Korea's missile test offsetting weaker dlr
    * Investors to continue cautious trading -analyst

    SEOUL, May 15 (Reuters) - The South Korean won        traded
flat early on Monday as tensions following North Korea's missile
test offset support from a weaker dollar.
    The won            stood at 1,126.3 against the dollar as of
0232 GMT, up 0.1 percent compared to the previous close of
1,127.4.    
     South Korea's military said more analysis was needed to
verify North Korea's claim that it achieved technical
advancement during Sunday's test-launch of a ballistic missile.
            
    "North Korea issue is capping further gains in the local
currency and the market participants are expected to continue
cautious trading," said Jung Sung-yoon, a foreign exchange
analyst at Hyundai Futures.
    The Korea Composite Stock Price Index (KOSPI)         edged
up 0.1 percent at 2,288.44 points.
    Offshore investors were poised to be net sellers, offloading
123.8 billion won ($110.01 million) worth of KOSPI shares near
mid-session. 
    Shares of security software companies listed on the junior
Kosdaq Index         soared after the spread of malicious
ransomware worm around the world.
    ESTsoft Corp             jumped 30 pct, the single-day
trading limit, hitting its highest since Aug. 25, 2016. Ahnlab
Inc             rose 12 pct, while Hancom Secure Inc            
climbed 14 pct.
    South Korea said there have been nine cases of ransomware
found in the country so far, but did not provide details on
where the cyber attacks were discovered.             
    Market heavyweight SK Hynix Inc             gained more than
1 percent. 
    Decliners outnumbered advancers 446 to 356.
    June futures on three-year treasury bonds         gained
0.06 point to 109.39. 
    
                       0232 GMT    Prev close
 Dollar/won             1,126.3       1,127.4
 Yen/won              9.9269/18        9.9131
 *KTB futures            109.39        109.33
 KOSPI                 2,288.44      2,286.02
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim; Editing by Randy Fabi)
  

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