S.Korea stocks fall as trade hopes wane on Trump comments

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

SEOUL, Dec 4 (Reuters) - Round-up of South Korean financial

** South Korean shares shed more than 1% on Wednesday after U.S.
President Donald Trump's remarks undermined optimism for a quick
initial trade deal with China. The won and the benchmark bond
yield fell.

** By 0214 GMT, the Seoul stock market's main KOSPI fell
22.23 points, or 1.07%, to 2,061.84. The index hit the lowest
since Oct. 21.

** President Trump said a trade agreement with China might have
to wait until after the U.S. presidential election in November
2020, denting hopes of a resolution soon to a dispute that has
weighed on the world economy.

** Denting sentiment further, China said it resolutely opposed
the U.S. House of Representatives' bill requiring the Trump
administration to toughen its response to what the bill called
China's crackdown on ethnic minorities in the western region of

** Foreigners were net sellers of around 200 billion won
($169.59 million) worth of shares on the main board.

** While investor sentiment was already dampened by Trump's
remarks, the KOSPI extended its losses after China depreciated
its currency against the dollar, said Seo Sang-young, an analyst
at Kiwoom Securities.

** Following China's move, the won also extended its losses,
being quoted at 1,193.6 per dollar on the onshore settlement
platform , 0.54% lower than its previous close at

** In offshore trading, the won was quoted at 1,193.1 per
U.S. dollar, down 0.3% from the previous day, while in
non-deliverable forward trading, its one-month contract
was quoted at 1,191.2 per dollar.

** MSCI's broadest index of Asia-Pacific shares outside Japan
fell 0.64%, after U.S. stocks shrank overnight
. Japanese stocks fell 1.06%.

** The KOSPI has risen 1.29% so far this year, but lost 0.2% in
the previous 30 trading sessions.

** The trading volume during the session on the KOSPI index
was 146.25 million shares and, of the total traded
issues of 904, the number of advancing shares was 172.

** The won has lost 6.5% against the dollar so far this year.

** In money and debt markets, December futures on three-year
treasury bonds rose 0.08 point to 110.32, 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 fell by 3.7
basis points to 1.425% in late afternoon trade, while the
benchmark 10-year yield fell by 6.7 basis points to 1.670%.

($1 = 1,179.3300 won)

(Reporting by Hayoung Choi; editing by Uttaresh.V)

2019-12-04 04:25:39

© 2020 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.