November 20, 2019 / 1:52 AM / 22 days ago

S.Korea stocks slip as U.S. support for HK protests fuels trade worries

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

    SEOUL, Nov 20 (Reuters) - Round-up of South Korean financial
** South Korean shares slipped on Wednesday as concerns grew
that trade relations between China and the United States could
worsen further after the U.S. Senate unanimously passed
legislation in support of Hong Kong protests. The won and the
benchmark bond yield dropped.
** The Senate passed the legislation on Tuesday aimed at
protecting human rights in Hong Kong amid China's crackdown on a
pro-democracy protest movement that has gripped the vital
financial centre for months.             

** China on Wednesday condemned the U.S. Senate measure, vowing
to take steps necessary to safeguard its sovereignty and
** Bookook Securities analyst Lee Won said there were worries
that the move might affect China's stance on the trade talks. 
** Washington would raise tariffs on Chinese imports if no deal
is reached with Beijing to end the dispute, U.S. President
Donald Trump said on Tuesday, threatening an escalation of the
spat that has damaged economic growth worldwide.             
** Investors now wait for the release of minutes from the
Federal Reserve's latest policy meeting, where the central bank
cut interest rates but signalled there would be no further
reductions unless the economy takes a turn for the worse.
** As of 0144 GMT, the Seoul stock market's main KOSPI        
fell 16.20 points, or 0.75%, to 2,137.04.
** Foreigners were net sellers of 41.1 billion won ($35.14
million) worth of shares on the main board. 
** The won was quoted at 1,169.7 per dollar on the onshore
settlement platform           , 0.18% lower than its previous
close at 1,167.6.
** In offshore trading, the won        was quoted at 1,170.0 per
U.S. dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,169.1 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.39%, after U.S. stocks were mixed
overnight            . Japanese stocks         fell 0.26%.
** The KOSPI has risen 4.77% so far this year, and gained 6.5%
in the previous 30 trading sessions.
** The trading volume during the session in the KOSPI index
        was 206.05 million shares and, of the total traded
issues of 900, the number of advancing shares was 232.
** The won has lost 4.6% against the dollar this year.
** In money and debt markets, December futures on three-year
treasury bonds         rose 0.09 point to 110.26, while the
3-month Certificate of Deposit rate was quoted at 1.53%.
** The most liquid 3-year Korean treasury bond yield fell by 2.5
basis points to 1.463%, while the benchmark 10-year yield
declined by 3.8 bps to 1.699%.    

($1 = 1,169.5800 won)

 (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)
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