June 11, 2019 / 2:02 AM / 3 months ago

S.Korea stocks climb on U.S. rate cut optimism

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

    SEOUL, June 11 (Reuters) - Round-up of South Korean
financial markets:
South Korea's KOSPI stock index         gained on Tuesday, amid
a brewing U.S.-China trade spat, as investors remained
optimistic that the Federal Reserve will come to the rescue with
an interest rate cut. The won and the benchmark bond yield rose.
** As of 0155 GMT, the Seoul stock market's main KOSPI was up
4.58 points or 0.22% at 2,104.07 points. 
** U.S. President Donald Trump said on Monday he was ready to
impose another round of punitive tariffs on Chinese imports if
he cannot make progress in trade talks with Chinese President Xi
Jinping at the G20 summit.             
** Late last week, the United States dropped its threat to
impose tariffs on Mexico in a deal to combat illegal migration
from Central America, while weak U.S. jobs data raised
expectations for U.S. interest rate cuts.    
** The recent gains in South Korean stocks have been mainly led
by increasing bets for a U.S. rate cut, in line with upbeat
global stocks market, said Lee Young-gon, an analyst from Hana
Financial Investment.   
** Foreigners were net sellers of 3.8 billion won ($3.22
million) worth of shares on the main board. 
** The won was quoted at 1,181.6 per dollar on the onshore
settlement platform           , 0.30% higher than its previous
close at 1,185.2.
** In offshore trading, the won        was quoted at 1,181.0 per
U.S. dollar, up 0.2% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,180.4 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.24%, after U.S. stocks extended gains.
Japanese stocks         rose 0.10%.            
** The KOSPI rose 2.93% so far this year, but lost 4.6% 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 131.67 million shares and, of the total traded
issues of 885, the number of advancing shares was 495.
** 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         rose 0.01 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 rose by 0.2
basis points to 1.532%, while the benchmark 10-year yield
climbed by 0.7 basis points to 1.664%.

($1 = 1,181.4000 won)

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