October 22, 2019 / 2:13 AM / a month ago

S.Korea stocks jump as trade progress stokes risk appetite

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

    SEOUL, Oct 22 (Reuters) - Round-up of South Korean financial
South Korean shares jumped on Tuesday on perception that
Washington and Beijing would come to some form of trade
resolution, lifting trade-sensitive stocks. The Korean won hit
its highest since early July and the benchmark bond yield rose.
** U.S. President Donald Trump said efforts to end a U.S. trade
war with China were going well as the world's two largest
economies continued to battle over trade and politics across the
world despite heralding a long-awaited truce this month. 
** White House economic adviser Larry Kudlow told the network
that 15% U.S. tariffs on many consumer goods imported from
China, including cellphones, laptop and tablet computers, could
be withdrawn if negotiations continue to go well.             
** If the tariffs scheduled for December are withdrawn, sales of
South Korean electronic makers will grow, said Na Jeong-hwan, an
analyst from DS Investment & Securities. 
** Shares of trade-sensitive electronic makers rose, lifting the
electronic sub-index         as much as 1.5%, with Samsung
Electronics             and SK Hynix             advancing 1.5%
and 2%, respectively.      
** As of 0206 GMT, the Seoul stock market's main KOSPI        
was up 17.18 points, or 0.83%, at 2,082.02, after rising as much
as 1.1%
** Foreigners were net buyers of 29.9 billion won ($25.52
million) worth of shares on the main board. 
** The won was quoted at 1,171.6 per dollar on the onshore
settlement platform           , 0.03% higher than its previous
close at 1,172.0. In early trade, the currency gained as high as
1,169.4 per dollar, marking its highest since July 5. 
** In offshore trading, the won        was quoted at 1,171.3 per
U.S. dollar, up 0.1% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,170.6 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.55%, after U.S. stocks gained.
** The KOSPI rose 2.27% so far this year, and gained 5% in the
previous 30 trading sessions.
** The trading volume during the session in the KOSPI index
        was 180.76 million shares and, of the total traded
issues of 894, the number of advancing shares was 518.
** The won lost 4.8% against the dollar so far this year.
** In money and debt markets, December futures on three-year
treasury bonds         rose 0.03 points to 110.34, while the
3-month Certificate of Deposit rate was quoted at 1.36%.
** The most liquid 3-year Korean treasury bond yield dropped by
0.3 basis points to 1.404%, while the benchmark 10-year yield
rose by 1.7 basis points to 1.676%.    

($1 = 1,171.5300 won)    

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