June 5, 2019 / 2:21 AM / 3 months ago

S.Korea stocks hit near 3-week high on hopes of Fed rate cut

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

    SEOUL, June 5 (Reuters) - Round-up of South Korean financial
** South Korea's KOSPI stock index         rose to a nearly
three-week high in early trade on Wednesday boosted by hopes of
a rate cut by the U.S. Federal Reserve, which helped in soothing
Sino-U.S. trade spat concerns. The Korean won and the benchmark
bond yield rose.
** As of 0200 GMT, the benchmark KOSPI rose 11.03 points, or
0.53%, to 2,078.00, after climbing to its highest level since
May 16 of 2,086.49. 
** The Federal Reserve will respond "as appropriate" to the
risks posed by a global trade war and other recent developments,
Fed Chairman Jerome Powell said in remarks that seemed to open
the door to the possibility of a rate cut.             
** Powell's comment was the biggest favorable factor for South
Korean market, said Kim Dae-jun, an analyst for Korea Investment
& Securities. 
** South Korea posted its first current account deficit in seven
years in April on a surge in stock dividend payments amid
falling exports, but the balance stayed in the black after
adjustment for seasonal factors.             
** Foreigners were net sellers of 29.9 billion won ($25.35
million) worth of shares on the main board. 
** The won was quoted at 1,179.1 per dollar on the onshore
settlement platform           , 0.31% higher than its previous
close at 1,182.8.
** In offshore trading, the won        was quoted at 1,178.8 per
U.S. dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,177.1 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.69%, after U.S. stocks soared
           . Japanese stocks         rose 1.71%.
** The KOSPI has risen 1.72% so far this year, but lost 6.7% 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 180.17 million shares and, of the total traded
issues of 888, the number of advancing shares was 539.
** The won has lost 5.4% against the U.S dollar so far this
** In money and debt markets, June futures on three-year
treasury bonds         was unchanged at 110.02, while the
3-month Certificate of Deposit rate was quoted at 1.82%.
** The most liquid 3-year Korean treasury bond yield was flat at
1.570%, while the benchmark 10-year yield rose by 0.6 basis
points to 1.690%.

($1 = 1,179.5000 won)

 (Reporting by Hayoung Choi; Editing by Rashmi Aich)
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