August 8, 2019 / 2:20 AM / 4 months ago

S.Korea stocks gain on relief over Japan export curbs

    * KOSPI index adds more than 1%, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Aug 8 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares picked up on Thursday and were set to
snap six sessions of losses on news that Japan had granted
approval for a high-tech export to the country for the first
time since stricter curbs in July. The Korean won and the
benchmark bond yield rose.
 
** South Korea's prime minister said Japan has granted its first
approval for the export of a high-tech material to South Korea
since Tokyo imposed tighter curbs in July on three high-tech
components used for making chips and displays.             
 
** Japan's industry minister Hiroshige Seko refrained from
commenting on details of the exports, but later added it will
consider expanding its strict examination beyond the three
high-tech materials if improper use of exports to South Korea is
found.             
 
** Japan said in July it would tighten restrictions on exports
of high-tech materials to South Korea, a move seen as related to
disputes over compensation for forced labour during World War
Two.
 
** Japan's latest move has provided relief, while a
confrontation between the United States and China is not
escalating further, said Lee Young-gon, an analyst at Hana
Financial Investment.
 
** As of 0213 GMT, the Seoul stock market's main KOSPI        
rose 23.74 points or 1.24% to 1,933.45. 
 
** Foreigners were net sellers of 107.8 billion won ($89.06
million) worth of shares on the main board.
 
** The won was quoted at 1,211.3 per dollar on the onshore
settlement platform           , 0.3% higher than its previous
close at 1,214.9.
 
** In offshore trading, the won        was quoted at 1,210.4 per
U.S. dollar, up 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,209.4 per dollar.
 
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.62%, after U.S. stocks closed up.
Japanese stocks         rose 0.55%.            
 
** The KOSPI has fallen 5.70% so far this year, and lost 10.0%
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 in the KOSPI index
        was 338.65 million shares and, of the total traded
issues of 888, the number of advancing shares was 697.
 
** The won has lost 7.9% against the U.S dollar so far this
year.
 
** In money and debt markets, September futures on three-year
treasury bonds         fell 0.03 point to 111.30, while the
3-month Certificate of Deposit rate was quoted at 1.49%.
 
** The most liquid 3-year Korean treasury bond yield fell by 0.3
basis point to 1.150%, while the benchmark 10-year yield rose by
0.6 basis point to 1.257%.
    
 ($1 = 1,210.4000 won)

 (Reporting by Hayoung Choi; Editing by Shounak Dasgupta)
  
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