Views Article – Sharenet Wealth

Asia, Forex

S.Korea stocks slip on global recession worries

* KOSPI index plunges, foreigners net sellers * Korean won weakens versus U.S. dollar * South Korea benchmark bond yield falls SEOUL, Aug 16 (Reuters) – Round-up of South Korean financial markets: ** South Korean shares dropped on Friday on global slowdown worries, fuelled by a plunge in U.S. 30-year Treasury yields. The Korean won and the benchmark bond yield also fell. ** U.S. 30-year Treasury yields fell to a record low below 2% and benchmark 10-year notes dropped to a three-year trough on Thursday amid persistent worries about global trade tensions and economic slowdown. ** South Korean stocks’ drop has been limited since bargain hunting has emerged on expectations of global central banks’ stimulus measures, said Seo Sang-young, an analyst at Kiwoom Securities. ** As of 0222 GMT, the Seoul stock market’s main KOSPI fell 14.89 points, or 0.79%, to 1,923.48. For the week, the KOSPI is set to lose 0.86%. ** Foreigners were net sellers of 53.1 billion won ($43.71 million) worth of shares on the main board. ** The won was quoted at 1,215.1 per dollar on the onshore settlement platform , 0.20% lower than its previous close at 1,212.7. ** In offshore trading, the won was quoted at 1,214.5 per U.S. dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,213.5 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.10%, after U.S. stocks were mixed . Japanese stocks fell 0.07%. ** The KOSPI has fallen 5.87% so far this year, and lost 7.5% 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 214.56 million shares and, of the total traded issues of 893, the number of advancing shares was 170. ** The won has lost 8.2% against the U.S dollar so far this year. ** In money and debt markets, September futures on three-year treasury bonds rose 0.19 points to 111.51. ** The most liquid 3-year Korean treasury bond yield fell by 6.1 basis points to 1.088%, while the benchmark 10-year yield fell by 8.0 basis points to 1.153%. ($1 = 1,214.7300 won) (Reporting by Hayoung Choi; Editing by Rashmi Aich)

© 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.
Array ( )