January 11, 2019 / 2:24 AM / 2 months ago

Trade optimism, dovish Fed comments lift S.Korea stocks

    * KOSPI index picks up, foreigners buy
    * Korean won flat versus U.S. dollar
    * South Korea bond yields down

    SEOUL, Jan 11 (Reuters) - Round-up of South Korean financial
markets:
South Korea's KOSPI stock index         advanced on Friday as
the United States and China avoided additional tariff conflict
through the three-day talks, while dovish comments from the Fed
chairman soothed sentiment. The Korean won and bond yields fell.
 
** At 0208 GMT, the KOSPI was up 10.03 points or 0.49 percent at
2,073.31.
    
** It seems like the recent trade talks raised some expectation
that high-ranking talks could follow to find a middle ground,
said Kim Ji-hyung, analyst, Hanyang Securities. However, the
current stocks rally could be limited if companies' earning
outlook remains murky, Kim added. 

** Overnight, U.S. President Donald Trump said the country was
having "tremendous success" in its trade negotiations with
China.             

** Amid lingering concerns that U.S. economy will slow this
year, Federal Reserve Chairman Jerome Powell said the central
bank can be patient in approving any further rate hikes. 
              
 
** The won was quoted at 1,118 per dollar on the onshore
settlement platform           , 0.03 percent firmer than its
previous close at 1,118.3. 
 
** In offshore trading, the won        was quoted at 1,119 per
U.S. dollar, down 0.2 percent from the previous day, while in
one-year non-deliverable forwards             it was being
transacted at 1,101.25 per dollar. 
 
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.23 percent, after U.S. stocks ended the
previous session with mild gains            . Japanese stocks
        rose 0.86 percent. 
 
** The KOSPI is up about 1.1 percent so far this year, and up by
0.95 percent in the previous 30 days.
 
** The current price-to-earnings ratio is 12.10, the dividend
yield is 1.28 percent and the market capitalisation is 1,242.04
trillion won. 
 
** The trading volume during the session on the KOSPI index
        was 134,005,000 shares and, of the total traded issues
of 885, the number of advancing shares was 484.
 
** Foreigners were net buyers of 107,546 million won worth of
shares.
 
** The U.S dollar has risen 0.51 percent against the won this
year. The won's high for the year is 1,114.7 per dollar on Jan.
2, 2019, and low is 1,130.05 on Jan. 3, 2019.
 
** In money and debt markets, March futures on three-year
treasury bonds         dipped 0.01 points to 109.29.
 
** The Korean 3-month Certificate of Deposit benchmark rate was
quoted at 1.86 percent, while the benchmark 3-year Korean
treasury bond yielded 1.796 percent, lower than the previous
day's 1.80 percent.    

 (Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips)
  
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