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S.Korea stocks rise on signs of thawing China ties
October 27, 2017 / 2:52 AM / a month ago

S.Korea stocks rise on signs of thawing China ties

    * China's individual trip to Seoul may begin -Yonhap
    * Tour, cosmetics shares strengthen
    * Investors await Q3 earnings release
    * Won down as USD hikes following ECB

    SEOUL, Oct 27 (Reuters) - South Korean shares rose in early
trade on Friday, clawing back losses from the previous session
as signs of easing political tensions between Seoul and China
supported consumer and travel stocks and as investors eyed
corporate earnings.
    The Korea Composite Stock Price Index (KOSPI)         rose
0.6 percent at 2,495.41 points as of 0220 GMT. It fell 0.5
percent on Thursday.
    Hotel Lotte was told by Chinese tour company Ctrip that it
is considering resuming sales of individual tours to South Korea
on its website, Yonhap News Agency said, which pushed Lotte Tour
Development             shares up 30 percent, their daily stock
trading limit.             
    Tours like the ones Ctrip offers had been unofficially
banned by China due to political disputes between the two
countries regarding Seoul's deployment of U.S. anti-missile
system.
    South Korea's cosmetics-related companies, whose biggest
export market is China, also gained. Amorepacific            
was up nearly 2 percent and Hankook Cosmetic             rose
5.3 percent.  
    "THAAD-related (Terminal High Altitude Area Defence) shares
would show great recovery during the session, supporting the
benchmark index," said Seo Sang-young, a stock analyst at Kiwoom
Securities.
    "The index would extend further or pare gains once the
market players check out the third-quarter earnings coming out
later."
    South Korean firms like Hyundai Mobis            , Kia
Motors             will be releasing their earnings for
July-September period on the day.
    Advancing issues far outnumbered decliners 527 to 255.
    The South Korean won        slumped as the greenback was
largely buoyed by European Central Bank's dovish policy move on
Thursday.
    The ECB took a step towards weaning the euro zone off loose
monetary policy but promised years of stimulus and even left the
door open to backtracking.             
    The won            stood at 1,129.2 to the dollar, down 0.4
percent compared to Thursday's close of 1,124.6.
    December futures on three-year treasury bonds         gained
0.04 point to 107.76. 
    
                       0220 GMT    Prev close
 Dollar/won             1,129.2       1,124.6
 Yen/won             9.8867/989        9.8925
 *KTB futures            107.76        107.72
 KOSPI                 2,495.41      2,480.63
 * Front-month futures on three-year treasury bonds

For a round up of market news, please see our daily Asia Morning
Call report            

 (Reporting by Dahee Kim; Editing by Sam Holmes)
  

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