Views Article – Sharenet Wealth

Asia, Forex

S.Korean stocks end higher as solid U.S. data fuels risk appetite

* KOSPI gains, foreigners buy

* KRW edges up against USD

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Jan 20 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares closed higher on Monday as solid U.S. economic data whipped up risk appetite. The won firmed slightly, while the benchmark bond yield rose.

** The KOSPI ended up 12.07 points, or 0.54%, to 2,262.64.

** Eyes are on South Korea’s advance estimates of gross domestic product for the fourth quarter and for 2019 due on Wednesday.

** A Reuters poll showed that the economy likely grew faster in the December quarter at a seasonally adjusted 0.8% from the previous quarter.

** U.S. housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units in December, data showed on Friday, a 13-year high.

** The Federal Reserve said the U.S. manufacturing output unexpectedly rose 0.2% in December.

** LG Chem Ltd jumped to a six-month high on report of a joint venture factory between the company and Hyundai Motor Co in South Korea to make battery cells for electric vehicles.

** South Korean pharmaceutical firms surged after the country confirmed its first case of a new coronavirus.

** Samsung Electronics Co Ltd gained 1.8% after it named its youngest president as its new smartphone chief.

** Foreigners were net buyers of 53.9 billion won ($46.55 million) worth of shares on the main board.

** The won was quoted at 1,158.1 per dollar on the onshore settlement platform, 0.11% higher than its previous close at 1,159.4.

** In offshore trading, the won was quoted at 1,158.2 per U.S. dollar, up 0.2% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,157.1 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.05%. Japanese stocks rose 0.18%.

** The KOSPI has risen 2.96% so far this year.

** The trading volume was 534.80 million shares and, of the total traded issues of 906, the number of advancing shares was 276.

** The won has lost 0.1% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds fell 0.10 point to 110.20, while the 3-month Certificate of Deposit rate was quoted at 1.46% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield rose by 2.5 basis points to 1.462% in late afternoon trade, while the benchmark 10-year yield rose by 2.3 basis points to 1.768%. ($1 = 1,157.9400 won) (Reporting by Joori Roh; editing by Uttaresh.V)

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