October 7, 2019 / 2:16 AM / 13 days ago

S.Korea stocks erase gains as bets of steep U.S. rate cuts fade

    * KOSPI nearly flat, foreigners net buyers
    * Korean won inches higher versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, Oct 7 (Reuters) - Round-up of South Korean financial
** South Korean shares pared early gains to trade almost flat on
Monday, as brisk U.S. jobs data tempered expectations of steep
rate cuts amid persistent concerns over the trade war between
the United States and China. The won inched higher, while the
benchmark bond yield fell.
** The U.S. unemployment rate dropped to near a 50-year low of
3.5% in September, with job growth increasing moderately,
suggesting the slowing economy could avoid a recession for now
despite trade tensions that are hammering manufacturing.             
** Following the U.S. unemployment data, expectations gathered
pace that the Federal Reserve may delay its rate cut, said Lee
Young-gon, an analyst at Hana Financial Investment. Lingering
worries about the Sino-U.S. trade talks also capped gains, he
** Chinese officials are signalling that they are increasingly
reluctant to agree to a broad trade deal pursued by U.S.
President Donald Trump, ahead of negotiations this week that
have raised hopes of a potential truce, Bloomberg reported
citing people familiar with the discussions.             
** South Korean shares exposed to North Korea plunged after
working-level talks between Washington and Pyongyang were broken
off on Saturday, weighing on the broader markets.             
** As of 0211 GMT, the Seoul stock market's main KOSPI        
rose 1.23 points, or 0.06%, to 2,021.92, after rising as much as
0.7% earlier in the session. 
** Foreigners were net buyers of 1.2 billion won ($1.00 million)
worth of shares on the main board. 
** The won was quoted at 1,196.4 per dollar on the onshore
settlement platform           , 0.03% higher than its previous
close at 1,196.8.
** In offshore trading, the won        was quoted at 1,196.2 per
U.S. dollar, down 0.4% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,195.4 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.13%, after U.S. stocks jumped
           . Japanese stocks         fell 0.28%.
** The KOSPI has fallen 0.92% so far this year, but gained 3.1%
in the previous 30 trading sessions.
** The trading volume during the session in the KOSPI index
        was 131.77 million shares and, of the total traded
issues of 885, the number of advancing shares was 288.
** The won has lost 6.7% against the U.S dollar so far this
** In money and debt markets, December futures on three-year
treasury bonds         rose 0.01 point to 111.10, while the
3-month Certificate of Deposit rate was quoted at 1.55%.
** The most liquid 3-year Korean treasury bond yield rose by 0.6
basis point to 1.216%, while the benchmark 10-year yield fell by
0.7 basis point to 1.366%.

($1 = 1,196.0000 won)    

 (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)
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