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S.Korea stocks fall for 4th session; steel shares buckle on US tariff reports
September 22, 2017 / 2:52 AM / a month ago

S.Korea stocks fall for 4th session; steel shares buckle on US tariff reports

    * N.Korea: could consider a hydrogen bomb on Pacific ocean
    * N.Korea comments little affect KOSPI, won
    * Steel shares plunge as US decides to impose tariffs

    SEOUL, Sept 22 (Reuters) - South Korean shares fell for a
fourth straight session on Friday, weighed down by losses on
Wall Street and a plunge in steelmakers after media reports that
the United States will slap tariffs on the country's steel.
             
    North Korean Foreign Minister Ri Yong Ho said he believes
the North could consider a hydrogen bomb test on the Pacific
Ocean of an unprecedented scale, but the comments had little
immediate impact on South Korean markets. 
    The Korea Composite Stock Price Index (KOSPI)         was
down 0.4 percent at 2,395.60 points as of 0221 GMT.
    The South Korean won            edged down 0.2 percent from
Thursday's close of 1,132.7 against the dollar and stood at
1,135.1. 
    "The KOSPI today is mostly influenced by a dip in Wall
Street overnight rather than what is going on with North Korea
issues," said Kim Sung-hwan, an analyst at Bookook Securities.
    Foreign investors also seemed quite immune to Friday's fresh
sabre-rattling from North Korea as they sold a relatively small
net 5 billion won ($4.41 million) worth of KOSPI shares near
mid-session.
    Huge losses in local steelmakers took a toll on the
benchmark stock index.
    Shares of Posco             fell more than 4 percent and the
sub-index for iron, steel and metal         was down as much as
3.7 percent following media reports that the United States said
it would impose tariffs on South Korean steel.             
    Decliners far outnumbered advancers 672 to 155.
    September futures on three-year treasury bonds        
gained 0.02 point to 109.00. 
    
                       0221 GMT    Prev close
 Dollar/won             1,135.1       1,132.7
 Yen/won             10.1385/65       10.0610
 *KTB futures            109.00        108.98
 KOSPI                 2,395.60      2,406.50
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Kim Coghill)
  

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