August 30, 2017 / 2:49 AM / a month ago

REFILE-S.Korea won, stocks rebound as North Korea worries ease

 (Corrects spelling of KOSPI index)
    * U.S. condemns N.Korea, but holds back new sanctions on
Pyongyang
    * N.Korea risks recede, sentiment improves -analyst
    * Foreign investors turn net buyers of KOSPI shares

    SEOUL, Aug 30 (Reuters) - The South Korean won           
and shares saw modest gains early on Wednesday, recovering from
earlier losses as market participants' anxiety following North
Korea's latest missile launch began to recede.
    The United Nations also held back on any threat of new
sanctions on North Korea while demanding Pyongyang halt its
weapons programme.             
    The won was quoted at 1,121.8 as of 0238 GMT, up 0.4 percent
compared to Tuesday's close of 1,126.4.
    The Korea Composite Stock Price Index (KOSPI)         also
edged up 0.1 percent to 2,366.09 points.
    "North Korea risks lasted for just a short while and U.S.
stocks also rebounded, improving overall market sentiment," said
Ha Keon-hyeong, a foreign exchange analyst at Shin Investment
Corp.
    Measures of risk such as the spread on South Korea's 5-year
credit default swaps                 also edged lower to 60.2
basis points from 62.3 on Tuesday. 
    Ha expected the won to move in narrow ranges throughout the
week with a batch of economic indicators such as South Korea's
exports and U.S. employment to be published later this week.
    Foreign investors were set to be net buyers of KOSPI shares,
although volumes were relatively small near mid-session.
    Advancing issues slightly outnumbered declining ones by 398
to 366.
    Tech major LG Electronics             rose as much as 4.7
percent after it said it had joined the bidding for ZKW Group, a
maker of car lights, in a deal that could be worth $1.2 billion.
                         
    Shares of Hyundai Motor             skidded to their lowest 
in more than four months after the South Korean carmaker said 
production at its four Chinese factories had been suspended
since last week because of supply disruptions.             
    September futures on three-year treasury bonds        
gained 0.06 point to 109.28. 
    
                       0238 GMT    Prevue close
 Dollar/won             1,121.8       1,126.4
 Yen/won             10.2177/32       10.2351
 *KGB futures            109.28        109.22
 KOSPI                 2,366.09      2,364.74
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Eric Meijer)
  

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