June 28, 2019 / 2:34 AM / 3 months ago

S.Korea stocks flat as Trump-Xi meeting looms large

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

    SEOUL, June 28 (Reuters) - Round-up of South Korean
financial markets:
South Korea's KOSPI stock index         traded flat on Friday as
investors exercised caution ahead of the meeting between U.S.
President Donald Trump and his Chinese counterpart Xi Jinping.
The Korean won was steady, while the benchmark bond yield fell. 

** President Trump has agreed to no preconditions for his
high-stake meeting with China's Xi this weekend and is
maintaining his threat to impose new tariffs on Chinese goods,
White House economic adviser Larry Kudlow said.             
** Both leaders are expected to meet in Osaka at 0230 GMT on
** Cautious mood in the market heightened after Trump's remarks
suggested two extreme scenarios about the talks, while the index
traded within a narrow range, said Na Jong-hwan, an analyst at
DS Investment & Securities. 
** As of 0224 GMT, the Seoul stock market's main KOSPI was down
4.91 points or 0.23% at 2,129.41 points.
** Foreigners were net buyers of 102.8 billion won ($88.83
million) worth of shares on the main board. 
** The won was quoted at 1,157.2 per dollar on the onshore
settlement platform           , 0.08% higher than its previous
close at 1,158.1.
** In offshore trading, the won        was quoted at 1,157.1 per
U.S. dollar, unchanged from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,155.7 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.16%, after U.S. stocks rose. Japanese
stocks         fell 0.38%.            
** The KOSPI climbed 4.37% so far this year, and gained 2% 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 246.64 million shares and, of the total traded
issues of 886, the number of advancing shares was 215.
** The won lost 3.6% against the U.S dollar so far this year.
** In money and debt markets, September futures on three-year
treasury bonds         rose 0.06 points to 110.39.
** The most liquid 3-year Korean treasury bond yield fell by 2.5
basis points to 1.467%, while the benchmark 10-year yield
dropped by 1.8 basis points to 1.597%.

($1 = 1,157.3300 won)

 (Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips)
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