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S.Korea stocks hit 2-week high as N.Korea tensions ease, won edges up
August 22, 2017 / 3:00 AM / 4 months ago

S.Korea stocks hit 2-week high as N.Korea tensions ease, won edges up

    * Buying interest revives as N.Korea tensions ease
    * KOSPI may near previous peak soon - analyst
    * Won gains as dollar remains tentative

    SEOUL, Aug 22 (Reuters) - South Korean shares climbed to
near a two-week high on Tuesday as tensions eased between the
United States and North Korea, but gains were capped by caution
ahead of the Federal Reserve's central banking conference later
this week.
    The Korea Composite Stock Price Index (KOSPI)         was up
0.4 percent at 2,363.50 points as of 0232 GMT, its highest
intraday level since August 10.
    "The cautious mood ahead of Jackson Hole is offsetting the
investment sentiment. Otherwise, the KOSPI's rebound could have
been bigger," said Cho Byung-hyun, a stock analyst at Yuanta
Securities.
    Markets are looking for any clues on monetary policy from
the gathering of global central bankers at the Fed's annual
conference in Jackson Hole, Wyoming on Aug 24-26. 
    Cho added that the KOSPI could return near to its previous
peak in coming week.
    Offshore investors were set to be small net sellers of local
equities near mid-session while local institutions purchased a
net 34.8 billion won ($30.64 million) worth. 
    Advancers outnumbered decliners 405 to 364.
    The sub-index for securities companies         rose 1.5
percent. Samsung Securities             gained 1 percent and NH
Investment & Securities             2.1 percent. 
    LG Chemical             rose over 3 percent as the analysts
expected investors' demand for its batteries will remain robust
in the next quarter.
    The South Korean won        edged up as the greenback
remained wobbly.
    The won            stood at 1,136.0 to the dollar, up 0.3
percent compared to Monday's close of 1,139.0.
    September futures on three-year treasury bonds         shed
0.04 point to 109.08. 
    
                       0232 GMT    Prev close
 Dollar/won             1,136.0       1,139.0
 Yen/won             10.3963/29       10.4387
 *KTB futures            109.08        109.12
 KOSPI                 2,363.50      2,355.00
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kiml Editing by Kim Coghill)
  

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