December 3, 2019 / 2:15 AM / 6 days ago

S.Korea stocks sag on Trump's tariffs against Brazil, Argentina

    * KOSPI hits lowest since Oct. 21
    * Foreigners net sellers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Dec 3 (Reuters) - Round-up of South Korean financial
** South Korean shares dropped on Tuesday as U.S. President
Donald Trump's surprise decision to impose tariffs on Brazil and
Argentina rekindled fears that a trade war could be spreading.
The Korean won weakened, while the benchmark bond yield rose.
** Trump on Monday announced tariffs on U.S. steel and aluminium
imports from the two countries, with sentiment also hit by weak
U.S. manufacturing data.                          
** In addition to U.S.-China trade war, risk appetite waned on
signs of trade frictions between the United States and the South
American countries, said Lee Young-gon, an analyst at Hana
Financial Investment. 
** As of 0206 GMT, the Seoul stock market's main KOSPI        
fell 16.27 points, or 0.78%, to 2,075.50. The index fell as much
as 1.2% in early trade, its lowest intraday level since Oct. 21.
** Foreigners were net sellers of 117.1 billion won ($99.29
million) worth of shares on the main board. 
** The won was quoted at 1,187.0 per dollar on the onshore
settlement platform           , 0.33% lower than its previous
close at 1,183.1.
** In offshore trading, the won        was quoted at 1,187.1 per
U.S. dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,185.3 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.61%, after U.S. stocks slid around 1%
overnight            . Japanese stocks         fell 0.95%.
** The KOSPI has risen 1.64% so far this year, and gained 1.3%
in the previous 30 trading sessions.
** Trading volume during the session in the KOSPI index        
was 173.62 million shares and, of the total traded issues of
900, the number of advancing shares was 159.
** The won has lost 6.0% against the dollar so far this year.
** In money and debt markets, December futures on three-year
treasury bonds         fell 0.03 points to 110.29, while the
3-month Certificate of Deposit rate was quoted at 1.53% in late
afternoon trade.
** The most liquid 3-year Korean treasury bond yield rose by 1.2
basis points to 1.434% in late afternoon trade, while the
benchmark 10-year yield rose by 3.2 basis points to 1.714%.

($1 = 1,179.3300 won)    

 (Reporting by Hayoung Choi; Editing by Sriraj Kalluvila)
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