November 4, 2019 / 2:06 AM / 3 months ago

S.Korea stocks hit 4-month high on trade optimism

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

    SEOUL, Nov 4 (Reuters) - Round-up of South Korean financial
South Korean shares rallied on Monday to hit their highest in
more than four months, as heightened optimism over U.S.-China
trade negotiations lifted risk appetite. The Korean won and the
benchmark bond yield also gained. 
** As of 0149 GMT, the Seoul stock market's main KOSPI        
was up 24.64 points, or 1.17%, at 2,124.84, marks its best
session since July 2. 
** The United States and China on Friday said they made progress
in talks aimed at defusing a nearly 16-month-long trade war that
has harmed the global economy, and U.S. officials said a deal
could be signed this month.               
** Particularly, the news about China's Huawei Technologies
formed investors expectations that Washington and Beijing might
go on to the "phase-2" agreement, said Cho Byung-hyun, an
analyst at Yuanta Securities Korea. 
** U.S. Commerce Secretary Wilbur Ross said licences for U.S.
companies to sell components to China's Huawei Technologies Co
will come "very shortly," in an interview with Bloomberg
published on Sunday.             
** U.S. job growth slowed less than expected in October as the
drag from a strike at General Motors was offset by gains
elsewhere and hiring in the prior two months was stronger than
previously estimated, offering some assurance that consumers
would continue to support the slowing economy.             
** Foreigners were net buyers of 65.7 billion won ($56.63
million) worth of shares on the main board. 
** The won was quoted at 1,160.8 per dollar on the onshore
settlement platform           , 0.41% higher than its previous
close at 1,165.6.
** In offshore trading, the won        was quoted at 1,160.1 per
U.S. dollar, up 0.4% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,158.6 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.78%, after U.S. stocks rallied.
Japanese stocks         dipped 0.33%.            
** The KOSPI advanced 4.11% so far this year, and gained 1.4% in
the previous 30 trading sessions.
** The trading volume during the session in the KOSPI index
        was 212.54 million shares and, of the total traded
issues of 900, the number of advancing shares was 642.
** The won lost 3.9% against the dollar so far this year.
** In money and debt markets, December futures on three-year
treasury bonds         dipped 0.08 points to 110.03, while the
3-month Certificate of Deposit rate was quoted at 1.44%.
** The most liquid 3-year Korean treasury bond yield rose by 2.9
basis points to 1.495%, while the benchmark 10-year yield
climbed by 2.9 basis points to 1.760%.

($1 = 1,160.2000 won)

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