July 25, 2019 / 2:02 AM / 4 months ago

S.Korea stocks drop on weak corporate earnings; chip giants gain

    * KOSPI index falls, foreigners net buyers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, July 25 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares declined on Thursday as weak
second-quarter corporate earnings dampened investor mood, even
as chip giants rose after SK Hynix Inc             said it would
cut investment and production to support a modest rebound in
chip demand. The won and the benchmark bond yield fell.
** Shares of LG Chem             fell more than 5% after the
company lowered profit margin estimate for its battery business,
blaming a recent fire incident. This sent the chemical sub-index
        2.4% lower, making it the biggest percentage loser among
KOSPI sub-indexes.             
** Shares of SK Hynix             rose more than 3% after the
company said it would cut DRAM output capacity from the next
quarter. This lifted other chipmakers including Samsung
Electronics            , which gained 1.2%.             
** Shares of Hyundai Mobis             jumped nearly 6% to their
highest level since May last year, after the company posted
second-quarter results above market consensus.             
** As of 0157 GMT, the Seoul stock market's main KOSPI index
        fell 15.35 points, or 0.74%, to 2,066.95 points.
** South Korea's economy swung back to growth in the second
quarter, dodging a technical recession, although the expansion
was mostly driven by government spending, suggesting the central
bank may need to cut rates again to stoke demand.             
** Foreigners were net buyers of 1.2 billion won ($1.02 million)
worth of shares on the main board. 
** The won was quoted at 1,179.8 per dollar on the onshore
settlement platform           , 0.16% lower than its previous
close at 1,177.9.
** In offshore trading, the won        was quoted at 1,179.4 per
U.S. dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,177.9 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.13%, after U.S. stocks registered
record closing highs            . Japanese stocks         rose
** The KOSPI has risen 1.42% so far this year, but lost 1.3% 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 270.64 million shares and, of the total traded
issues of 893, the number of advancing shares was 124.
** The won has lost 5.4% against the U.S dollar so far this
** In money and debt markets, September futures on three-year
treasury bonds         rose 0.02 points to 110.81, while the
3-month Certificate of Deposit rate was quoted at 1.56%.
** The most liquid 3-year Korean treasury bond yield fell by 1.3
basis points to 1.309%, while the benchmark 10-year yield fell
by 2.0 basis points to 1.446%.

($1 = 1,179.3700 won)

 (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)
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