October 25, 2019 / 2:45 AM / 2 months ago

S.Korea stocks flat amid cautious mood; won weakens

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

    SEOUL, Oct 25 (Reuters) - Round-up of South Korean financial
markets:
  
South Korean shares were flat on Friday as investors steered
clear of making big bets ahead of a key U.S. central bank
decision on interest rates next week. The Korean won weakened,
while the benchmark bond yield rose.
    
** A Reuters poll of economists found that the recent truce in
the U.S.-China trade war is not an economic turning point and
has done nothing to reduce a significant risk that the United
States could slip into recession in the next two years.
                   
 
** The Federal Reserve after lowering interest rates in July and
September, was expected to cut again by 25 basis points next
week. 
    
** As investors are unsure of a rate cut by the Federal Reserve
next week, they are cautious, said Huh Jae-hwan, an analyst at
Eugene Investment.

** The analyst also said that local institutions were booking
profits after increasing their exposure to stocks recently.    
        
** Foreigners were net buyers of 49.6 billion won ($42.22
million) worth of shares on the main board, while local
institutions were net sellers of 33.1 billion won worth of
shares.
    
** As of 0232 GMT, the Seoul stock market's main KOSPI        
was trading flat at 2,084.92. For the week, the KOSPI was set to
gain around 1.1%.
  
** Shares of POSCO             dropped more than 5% on
expectations that the steelmaker would likely face further cost
burden and supply glut.             
    
** The won was quoted at 1,175.1 per dollar on the onshore
settlement platform           , 0.19% lower than its previous
close at 1,172.9.
    
** In offshore trading, the won        was quoted at 1,174.9 per
U.S. dollar, unchanged from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,173.5 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.06%, after U.S. stocks closed up
           . Japanese stocks         fell 0.02%.
    
** The KOSPI has risen 2.20% so far this year, and gained 3.8%
in the previous 30 trading sessions.
    
** The trading volume during the session in the KOSPI index
        was 129.12 million shares, and of the total traded
issues of 897, the number of advancing shares was 290.
    
** The won has lost 5.1% against the dollar so far this year.
    
** In money and debt markets, December futures on three-year
treasury bonds         fell 0.03 points to 110.35, while the
3-month Certificate of Deposit rate was quoted at 1.37%.
    
** The most liquid 3-year Korean treasury bond yield rose by 1.4
basis points to 1.410%, while the benchmark 10-year yield rose
by 1.0 basis points to 1.648%.    

($1 = 1,174.7300 won)

 (Reporting by Hayoung Choi, editing by Amy Caren Daniel)
  
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