May 15, 2019 / 2:51 AM / 2 months ago

S.Korea stocks rise tracking Wall Street on trade optimism; won steady

    * KOSPI index rises, foreigners sell
    * Korean won steady against U.S. dollar
    * South Korea benchmark bond yields fall

    SEOUL, May 15 (Reuters) - Round-up of South Korean financial
    South Korea's KOSPI stock index         rose on Wednesday,
in line with Wall Street gains on trade optimism. The Korean won
remained steady, while the benchmark bond yields fell.
    ** U.S. President Donald Trump on Tuesday said he had a
"very good" dialogue with China and insisted talks between the
world's two largest economies had not collapsed.             
    ** This comes after the world's two biggest economies
exchanged some hopeful remarks on Tuesday. China's State
Councillor Wang Yi said the two countries have the "ability and
wisdom" to reach a trade deal that is good for both, while
President Trump said he has "a feeling it's going to be very
    ** South Korea's April employment data revealed signs of
weakening recovery amid increased uncertainties in the economy
such as U.S.-China trade conflict and sluggish exports. The
country's unemployment rate rose to a three-month high in April
as jobs were shed in the manufacturing and construction sectors,
adding pressure to President Moon Jae-in to do more to boost

    ** The Seoul stock market's main KOSPI rose 9.46 points, or
0.45%, to 2,091.30.
    ** South Korean firms that operate duty-free stores in Seoul
fall as the government decides to issue additional licences to
operate duty-free stores in Seoul.             
    ** SK Innovation 096770.KS said on Wednesday it plans to
invest 579.9 billion won ($488.30 million) to build its second
China factory for electric vehicle batteries, in a bet that
China will open up its market to Korean battery makers.
    ** Foreigners were net sellers of 18.3 billion won ($15.40
million) worth of shares on the main board.
    ** The won was quoted at 1,189.4 per dollar on the onshore
settlement platform           , steady from its previous close
at 1,189.4.
    ** The currency has been showing signs of increased
volatility hurt by U.S.-China trade dispute and sluggish
exports. South Korea's Finance Minister Hong said on Wednesday
that the government is monitoring any unusual movements or
whether herd behaviours are seen in the currency market and said
it will respond to any signs of her behaviours.             
    ** In offshore trading, the won        was quoted at 1,189.4
per U.S. dollar, down 0.2% from the previous day, while in
one-year non-deliverable forward trading its one-month contract
              was quoted at 1,187.1 per dollar.
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was up 0.34%, after U.S. stocks bounced
back overnight            . Japanese stocks         fell 0.08%.
    ** The KOSPI has risen 2.46% so far this year, and fell 2.7%
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 268.64 million shares and, of the total traded
issues of 892, the number of advancing shares was 579.
    ** The won has lost 6.2% against the U.S dollar this year.
    ** In money and debt markets, June futures on three-year
treasury bonds         rose 0.03 points to 109.58.
    ** The most liquid 3-year Korean treasury bond yield fell by
0.3 basis points to 1.708%, while the benchmark 10-year yield
fell by 0.9 basis points to 1.860%.

($1 = 1,188.6000 won)

 (Reporting by Joori Roh; Editing by Rashmi Aich)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below