August 2, 2018 / 2:38 AM / 3 months ago

S.Korea stocks fall on renewed Sino-U.S. trade friction; won steady

    * KOSPI index drops, foreigners sell
    * Korean won steady vs U.S. dollar
    * South Korea bond yields down

    SEOUL, Aug 2 (Reuters) - Round-up of South Korean financial
markets:
** South Korea's KOSPI stock index         weakened on Thursday
as the U.S. administration increased pressure on China for trade
concessions by proposing a higher 25 percent tariff on $200
billion worth of Chinese imports. The Korean won remained
steady, while bond yields slipped.
 
** At 0215 GMT, the KOSPI was down 16.66 points or 0.72 percent
at 2,290.41.
 
** The won was quoted at 1,119.7 per dollar on the onshore
settlement platform           , 0.08 percent firmer than its
previous close at 1,120.6. 
** In offshore trading, the won        was quoted at 1,120.75
per U.S. dollar, down 0.2 percent from the previous day, while
in one-year non-deliverable forwards             it was being
transacted at 1,103.65 per dollar. 

** While the U.S. Federal Reserve left the interest rates
untouched, it still remained on course for an expected interest
rate hike in September. Fed's decision did not affect South
Korean market, as it did not have remarkable changes to reflect
market momentum.
        
** U.S. Trade Representative Robert Lighthizer said President
Donald Trump directed the increase from a previously proposed 10
percent duty because China has refused to meet U.S. demands and
has imposed retaliatory tariffs on U.S. goods.               
 
** MSCI's broadest index of Asia-Pacific shares outside Japan
                slipped 0.74 percent, after U.S. stocks ended
the previous session with losses            . Japanese stocks
        weakened 0.34 percent. 
 
** The KOSPI lost around 6.5 percent so far this year, and
slipped 2.40 percent in the previous 30 days.
 
** The current price-to-earnings ratio is 12.10, the dividend
yield is 1.28 percent and the market capitalisation is 1,242.04
trillion won. 
 
** The trading volume during the session on the KOSPI index
        was 159,235,000 shares and, of the total traded issues
of 890, the number of advancing shares was 311.
 
** Foreigners were net sellers of 8,198 million won worth of
shares.
 
** The U.S dollar has risen 5.1 percent against the won this
year. The won's high for the year is 1,053.55 per dollar on
April 2, 2018, and low is 1,140.4 on July 19, 2018.

 (Reporting by Joori Roh, Editing by Sherry Jacob-Phillips)
  
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