June 10, 2019 / 2:25 AM / 3 months ago

S.Korea stocks gain on hopes of U.S. rate cut, Mexico tariff deal

    * KOSPI index climbs, foreigners net buyers
    * China's exports unexpectedly returned to growth in May
    * South Korea benchmark bond yield steady

    SEOUL, June 10 (Reuters) - Round-up of South Korean
financial markets:
South Korea's KOSPI stock index         gained on Monday on
hopes for Federal Reserve interest rate cuts, while optimism
about progress in U.S. trade fight with Mexico lifted auto
shares. The won weakened and benchmark bond yield was unchanged.
** As of 0206 GMT, the Seoul stock market's main KOSPI was up
10.09 points, or 0.49%, at 2,082.42 points. The major index
extended gains after China released its exports data.
** China's exports unexpectedly returned to growth in May
despite higher U.S. tariffs, but imports fell in a further sign
of weak domestic demand that could prompt Beijing to step up
stimulus measures.             
** However, Monday's gains were mainly led by U.S. rate cut
hopes and investors' sentiment improved after the United States
and Mexico struck a deal, said Lee Won, an analyst from Bookook
** U.S. job growth slowed sharply in May and wages rose less
than expected, raising fears that a loss of momentum in economic
activity could be spreading to the labour market, which could
put pressure on the Federal Reserve to cut interest rates this
** Kia Motors             and Hyundai Wia             rose 3.4%
and 4.6%, respectively, as concerns over their Mexico operations
eased after the United States and Mexico struck a deal to avert
a tariff war.             
** Foreigners were net buyers of 5.6 billion won ($4.73 million)
worth of shares on the main board. 

** The won was quoted at 1,184.3 per dollar on the onshore
settlement platform           , 0.24% lower than its previous
close at 1,181.4.
** In offshore trading, the won        was quoted at 1,184.0 per
U.S. dollar, down 0.2% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,182.8 per dollar.

** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.47%, after U.S. stocks rallied.
Japanese stocks         rose 1.06%.            
** The KOSPI rose 1.84% so far this year, but lost 6.7% in the
previous 30 trading sessions.
** The current price-to-earnings ratio is 12.10, the dividend
yield is 1.28% and the market capitalisation is 1,242.04
trillion won.
** The trading volume during the session on the KOSPI index
        was 207.86 million shares and, of the total traded
issues of 890, the number of advancing shares was 479.
** The won lost 5.8% against the U.S dollar so far this year.
** In money and debt markets, June futures on three-year
treasury bonds         fell 0.03 points to 110.10, while the
3-month Certificate of Deposit rate was quoted at 1.82%.
** The most liquid 3-year Korean treasury bond yield fell by 2.2
basis points to 1.515%, while the benchmark 10-year yield was
flat at 1.635%.

    ($1 = 1,183.8800 won)

 (Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips)
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