October 16, 2019 / 2:15 AM / a month ago

S.Korea stocks gain on potential Brexit deal

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

    SEOUL, Oct 16 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares climbed on Wednesday as Britain and the
European Union made headway on a Brexit deal, while investors
shrugged off a widely-expected rate cut by the country's central
bank. The Korean won weakened, while the benchmark bond yield
rose.
    
** Last-ditch talks between Britain and the European Union to
get a Brexit deal ahead of a summit of the bloc's leaders this
week went on past midnight to Wednesday, but it was still
unclear if London could avoid postponing its departure due on
Oct. 31.             
    
** British and EU negotiators were closing in on a draft Brexit
deal, with optimism there will be a breakthrough before the end
of the day Tuesday, Bloomberg reported citing two EU officials.
            
    
** On higher possibility of the deal between Britain and the EU,
risk appetite picked up around the globe, said Noh Dong-kil, an
analyst at NH Investment & Securities. 
    
** As of 0209 GMT, the Seoul stock market's main KOSPI        
rose 13.29 points, or 0.64%, to 2,081.46. 

** South Korea's central bank cut its policy interest rate for
the second time in three months on Wednesday, as expected, to
support a slowing economy and address mounting deflationary
pressures.             
    
** As the rate cut was a widely-expected move, the stock markets
were not sensitive towards this, Noh added.   
    
** Earlier, all but one of 31 analysts surveyed by Reuters
expected the Bank of Korea to cut its seven-day repurchase rate
KROCRT=ECI by 25 basis points to 1.25%.             
        
** Foreigners were net buyers of 28.1 billion won ($23.68
million) worth of shares on the main board. 
     
** The won was quoted at 1,186.8 per dollar on the onshore
settlement platform           , 0.13% lower than its previous
close at 1,185.2.
     
** In offshore trading, the won        was quoted at 1,186.5 per
U.S. dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,185.6 per dollar.
     
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.21%, after U.S. stocks jumped
           . Japanese stocks         rose 1.39%.
     
** The KOSPI has risen 1.74% so far this year, and gained 6.5%
in the previous 30 trading sessions.
     
** The trading volume during the session in the KOSPI index
        was 161.69 million shares. Of the total 866 traded
issues, the number of advancing shares was 429.
    
** The won has lost 6.0% against the dollar so far this year.
    
** In money and debt markets, December futures on three-year
treasury bonds         fell 0.04 points to 110.75, while the
3-month Certificate of Deposit rate was quoted at 1.55%.
    
** The most liquid 3-year Korean treasury bond yield rose by 2.1
basis points to 1.298%, while the benchmark 10-year yield rose
by 3.0 basis points to 1.523%.    

($1 = 1,186.7500 won)    

 (Reporting by Hayoung Choi; Editing by Rashmi Aich)
  
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