July 24, 2019 / 2:37 AM / 7 months ago

S.Korea stocks tread water; eyes on Sino-U.S. trade talks

    * KOSPI index flat, foreigners net buyers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, July 24 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares veered between losses and gains waiting
for signals from the U.S.-China trade talks, while concerns over
weak corporate earnings from some major firms persisted. The
Korean won and the benchmark bond yield rose.
** U.S. Trade Representative Robert Lighthizer and senior U.S.
officials will travel to Shanghai on Monday for face-to-face
trade meetings with Chinese officials, Bloomberg reported on
Tuesday, citing unnamed sources.             
** White House economic adviser Larry Kudlow on Tuesday called
it a good sign that top U.S. officials would be travelling to
China to discuss reviving stalled trade talks, and said he
expected Beijing to start buying U.S. agriculture products soon.
** Shares of Samsung BioLogics Co Ltd             fell 2.4%
after the drugmaker reported a second-quarter loss on Tuesday.
It pulled down the pharmaceutical sub-index         down over
1%, making it the biggest percentage loser among KOSPI
** LG Display Co Ltd             shares traded down 2.4% after
the company said on Tuesday its second-quarter operating loss
widened to 369 billion won ($313.02 million) from 228 billion
won a year earlier. That compared with analysts' forecast of a
loss of 268 billion won.             
** The benchmark index rose earlier as Chinese stocks opened
higher in response to U.S. reaction on the trade negotiation
with China, said Seo Sang-young, an analyst at Kiwoon
Securities. Still, South Korean stocks are generally riding on
corporate earings, he added. 
** As of 0230 GMT, the Seoul stock market's main KOSPI index
        fell 1.17 points or 0.06% to 2,100.28.
** Foreigners were net buyers of 58.6 billion won ($49.76
million) worth of shares on the main board.
** The won was quoted at 1,178.7 per dollar on the onshore
settlement platform           , 0.02% higher than its previous
close at 1,178.9.
** In offshore trading, the won        was quoted at 1,177.7 per
U.S. dollar, up 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,177.0 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.38%, after U.S. stocks gained. Japanese
stocks         rose 0.55%.            
** The KOSPI has risen 3.08% so far this year, but lost 0.5% 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 276.07 million shares and of the total traded issues
of 890, the number of advancing shares was 392.
** The won has lost 5.3% against the U.S dollar so far this
** In money and debt markets, September futures on three-year
treasury bonds         rose 0.04 points to 110.77, while the
3-month Certificate of Deposit rate was quoted at 1.59%.
** The most liquid 3-year Korean treasury bond yield fell by 1.1
basis points to 1.329%, while the benchmark 10-year yield rose
by 0.1 basis point to 1.471%.

 ($1 = 1,177.7300 won)

 (Reporting by Hayoung Choi; Editing by Shounak Dasgupta)
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