May 24, 2019 / 2:25 AM / 4 months ago

S.Korea stocks drop on growing Sino-U.S. trade friction

    * KOSPI index hits lowest since Jan. 9; foreigners net
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, May 24 (Reuters) - Round-up of South Korean financial
** South Korea's KOSPI stock index         sagged early on
Friday, hitting its lowest since early January, as U.S.
President Donald Trump's latest remark on China's Huawei
Technologies Co Ltd          added fuel to the tension. The
Korean won and the benchmark bond yield also declined.
** As of 0220 GMT, the Seoul stock market's main KOSPI fell
13.06 points or 0.63% to 2,046.53, after hitting its lowest
level since January 9 in early trade. 
** President Trump said U.S. complaints against Huawei might be
resolved within the framework of a U.S.-China trade deal, while
at the same time calling the Chinese telecommunications giant
"very dangerous."             
** The oil price plunge, which was led by escalating trade spat,
boosted South Korean airline shares, while it pulled down
refineries. Shares of Korean Air Lines             and Asiana
Airlines             rose more than 3% each, while SK Innovation
            lost 2.7%.             
** Foreigners were net sellers of 145.7 billion won ($122.41
million) worth of shares on the main board. 
** The won was quoted at 1,190.1 per dollar on the onshore
settlement platform           , 0.08% lower than its previous
close at 1,189.2.
** In offshore trading, the won        was quoted at 1,189.7 per
U.S. dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,188.1 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.12%, after U.S. stocks ended lower
           . Japanese stocks         fell 0.46%.
** The KOSPI has risen 0.50% so far this year, but has lost 7.0%
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 206.41 million shares and, of the total traded
issues of 895, the number of advancing shares was 276.
** The won has lost 6.3% against the U.S dollar so far this
** In money and debt markets, June futures on three-year
treasury bonds         rose 0.01 points to 109.79, while the
3-month Certificate of Deposit rate was quoted at 1.84%.
** The most liquid 3-year Korean treasury bond yield fell 0.5
basis points to 1.643%, while the benchmark 10-year yield shed
1.6 basis points to 1.793%.

($1 = 1,190.3000 won)

 (Reporting by Hayoung Choi; Editing by Shreejay Sinha)
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