May 16, 2019 / 1:52 AM / 2 months ago

S.Korea stocks sink as Trump escalates trade friction with China

    * KOSPI index drops, foreigners net sellers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, May 16 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korea's KOSPI stock index         sagged on Thursday as
U.S. President Donald Trump escalated trade frictions with
China, by imposing sanctions on Chinese telecom giant Huawei
        . The Korean won and the benchmark bond yield fell.
     
** As of 0140 GMT, the Seoul stock market's main KOSPI benchmark
fell 18.33 points, or 0.88%, to 2,075.45.
    
** The Trump administration hit Chinese telecoms giant Huawei
with severe sanctions, adding another incendiary element to the
U.S.-China trade dispute just as Treasury Secretary Steven
Mnuchin said he would visit China soon for more talks.
            
    
** A series of media reports cloud the prosepct of trade deal
between the United States and China, said Noh Dong-kil, an
analyst from Shinhan Investment. 
    
** After media reports that Trump is expected to delay decision
on imposing tariffs on imported cars, South Korean auto shares
opened sharply higher. The country's largest automaker Hyundai
Motor is trading up 0.8% while Kia Motors added more than 1.2%,
making the auto sub-index         the sole gainer among KOSPI
subcategories.             
     
** Foreigners were net sellers of 121.0 billion won ($101.73
million) worth of shares on the main board. 
    
** The won was quoted at 1,189.3 per dollar on the onshore
settlement platform           , 0.06% lower than its previous
close at 1,188.6.
     
** In offshore trading, the won        was quoted at 1,189.1 per
U.S. dollar, down 0.3% 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 down 0.37%, after U.S. stocks ended higher
           . Japanese stocks         fell 0.92%.
    
** The KOSPI has risen 1.81% so far this year, and fell 3.5% 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 261.55 million shares and, of the total traded
issues of 894, the number of advancing shares was 295.
    
** 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 0.07 points to 109.63, while the
3-month Certificate of Deposit rate was quoted at 1.84%.
    
** The most liquid 3-year Korean treasury bond yield fell by 1.4
basis points to 1.696%, while the benchmark 10-year yield fell
by 3.0 basis points to 1.835%.

($1 = 1,189.4000 won)

 (Reporting by Hayoung Choi; Editing by Rashmi Aich)
  
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