August 14, 2019 / 3:00 AM / 2 months ago

S.Korea stocks rise after Washington delays tariffs on some Chinese imports

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

    SEOUL, Aug 14 (Reuters) - Round-up of South Korean financial
markets:

** South Korean shares jumped nearly 1% on Wednesday after
Washington delayed tariffs on some Chinese imports. The won
strengthened sharply and the benchmark bond yield rose too.
    
** U.S. President Donald Trump backed off his Sept. 1 deadline
for 10% tariffs on remaining Chinese imports, delaying duties on
cellphones, laptops and other consumer goods, in the hopes of
blunting their impact on U.S. holiday sales.             
    
** As of 0250 GMT, the Seoul stock market's main KOSPI        
rose 16.67 points or 0.87% to 1,942.50, after rising as much as
1.4%. 
    
** The South Korean markets' rebound is expected to be slower
than Wall Street, due to sluggish exports and weak profit
momentum of businesses, said Noh Dong-kil, an analyst at NH
Investment & Securities. 
    
** South Korea's seafood processing firms surged as investors
expected sales growth of local firms after the government put
pressure on Japan over radioactive water discharged from
Fukushima plant.             
        
** Foreigners were net sellers of 0.1 billion won ($82,474.23)
worth of shares on the main board. 
     
** The won was quoted at 1,212.0 per dollar on the onshore
settlement platform           , 0.84% higher than its previous
close at 1,222.2.
     
** In offshore trading, the won        was quoted at 1,212.2 per
U.S. dollar, down 0.5% from the previous day, while in
non-deliverable forward trading, its one-month contract
              was quoted at 1,211.4 per dollar.
     
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.87%, after U.S. stocks surged
           . Japanese stocks         rose 0.69%.
     
** The KOSPI has fallen 4.65% so far this year, and lost 9.2% 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.
     
** Trading volume during the session on the KOSPI index        
was 386.68 million shares and, of the total traded issues of
894, the number of advancing shares was 572.
         
** The won has lost 7.9% against the U.S dollar so far this
year.
     
** In money and debt markets, September futures on three-year
treasury bonds         fell 0.03 points to 111.32.
     
** The most liquid 3-year Korean treasury bond yield rose by 0.3
basis points to 1.155%, while the benchmark 10-year yield rose
by 0.5 basis points to 1.235%.
    
($1 = 1,212.5000 won)

 (Reporting by Hayoung Choi; editing by Uttaresh.V)
  
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