January 4, 2019 / 2:14 AM / 5 months ago

S.Korea stocks hover near 2-year low on global growth concerns

    * KOSPI index flat, foreigners buy
    * Korean won rise versus U.S. dollar
    * South Korea bond yields down

    SEOUL, Jan 4 (Reuters) - Round-up of South Korean financial
** South Korea's KOSPI stock index         traded largely steady
on Friday after hitting the lowest intraday level since Dec. 6,
2016, as worries about an economic slowdown dented sentiment.
The Korean won rose against the dollar, while bond yields fell.
** At 0202 GMT, the KOSPI was trading steady at 0.01 points at
** The local market is being pressured by global growth
concerns, especially after iPhone maker Apple          trimmed
its profit outlook, said Lee Won, an analyst at Bookook
Securities. However, such concerns of Chinese economy could
raise the possibility of a trade agreement between the United
States and China, Lee noted. 
** Apple Inc on Wednesday took the rare step of cutting its
quarterly sales forecast, with Chief Executive Tim Cook blaming
slowing iPhone sales in China, whose economy has been dragged
down by uncertainty around U.S.-China trade relations. 
** Shares of Samsung Electronics             and SK Hynix
            dropped as much as 1.9 percent and 1.2 percent,
respectively. Samsung Electronics marked the lowest since its
stock split in May 2018, while SK Hynix was traded at the lowest
since June 2017.    
** Bucking the trend, shares of Hyundai Motor             and
Kia Motors             added 4.3 percent and 5.3 percent to the
index, respectively, mainly due to bargain hunting, Lee said.
** The won was quoted at 1,125.6 per dollar on the onshore
settlement platform           , 0.19 percent firmer than  its
previous close at 1,127.7. 
** In offshore trading, the won        was quoted at 1,127.09
per U.S. dollar, down 0.2 percent from the previous day, while
in one-year non-deliverable forwards             it was being
transacted at 1,107.8 per dollar. 
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.21 percent, after U.S. stocks ended
the previous session with mild losses            . Japanese
stocks         weakened 3.62 percent. 
** The KOSPI lost about 2.3 percent so far in the first week of
2019, and slipped 5.09 percent in the previous 30 days.
** The current price-to-earnings ratio is 12.10, the dividend
yield is 1.28 percent and the market capitalisation is 1,242.04
trillion won. 
** The trading volume during the session on the KOSPI index
        was 114,040,000 shares and, of the total traded issues
of 879, the number of advancing shares was 240.
** Foreigners were net buyers of 19,471 million won worth of
** The U.S dollar rose 1.23 percent against the won this year.
The won's high for the year is 1,114.7 per dollar on Jan. 2,
2019, and low is 1,130.05 on Jan. 3, 2019.
** In money and debt markets, March futures on three-year
treasury bonds         rose 0.09 points to 109.35.
** The Korean 3-month Certificate of Deposit benchmark rate was
quoted at 1.92 percent, while the benchmark 3-year Korean
treasury bond yielded 1.789 percent, lower than the previous
day's 1.79 percent.

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