';
Views Article – Sharenet Wealth

Asia, Forex

S.Korea stocks lose steam as investors brace for China growth data

* KOSPI index drops, foreigners net sellers * KOSPI index snaps a three-session winning streak * Korean won gains modestly vs U.S. dollar * South Korea benchmark bond yield falls SEOUL, July 15 (Reuters) – Round-up of South Korean financial markets: South Korean shares inched down on Monday, as investors braced for key economic data from China amid lacklustre expectations of second-quarter corporate earnings season. The Korean won strengthened, while the benchmark bond yield dropped. ** China’s second-quarter GDP growth was expected to slow to a near 30-year low of 6.2% this year, a Reuters poll showed, despite a flurry of support measures to spur domestic demand amid a bruising trade war with the United States. ** The markets are waiting for China’s GDP data, said Lee Won, an analyst at Bookook Securities. Low expectations of second-quarter corporate earnings also weighed on the benchmark index, he added. ** As of 0120 GMT, the Seoul stock market’s main KOSPI was down 7.72 points or 0.37% at 2,078.94 points. ** Foreigners were net sellers of 14.9 billion won ($12.64 million) worth of shares on the main board. ** The won was quoted at 1,178.4 per dollar on the onshore settlement platform , 0.07% higher than its previous close at 1,179.2. ** In offshore trading, the won was quoted at 1,177.8 per U.S. dollar, down 0.1% from the previous session, while in non-deliverable forward trading its one-month contract was quoted at 1,177.4 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.14%, after U.S. stocks notched all-time highs . ** The KOSPI climbed 1.95% so far this year, and gained 2.3% 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 in the KOSPI index was 124.36 million shares and, of the total traded issues of 891, the number of advancing shares was 237. ** The won slipped 5.3% against the U.S dollar so far this year. ** In money and debt markets, September futures on three-year treasury bonds rose 0.03 points to 110.55, while the 3-month Certificate of Deposit rate was quoted at 1.78%. ** The most liquid 3-year Korean treasury bond yield fell by 0.6 basis points to 1.419%, while the benchmark 10-year yield slipped by 1.1 basis points to 1.560%. ($1 = 1,178.6700 won) (Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips)


© 2019 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.