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Views Article – Sharenet Wealth

Asia, Forex

S.Korean stocks fall on global growth worries, post 4th weekly loss

* KOSPI index drops; Korean won strengthens vs U.S. dollar

* Foreigners post net sales for 12th consecutive session

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Aug 16 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares declined on Friday due to global recession worries after a plunge in U.S. 30-year Treasury yields. The Korean won turned higher, while the benchmark bond yield fell.

** The Seoul stock market’s main KOSPI ended down 11.20 points, or 0.58%, at 1,927.17.

** South Korean shares’ drop was less sharp because they had fallen much already, said Park Sang-hyun, an analyst at HI Investment & Securities. A modest rise of U.S. stocks overnight also provided some relief, he added.

** 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.

** China’s state planner said on Friday it will roll out a plan to boost disposable income this year and in 2020 to spur consumption as the economy slows.

** China’s plan for stimulus measure helped the benchmark index recoup some of early losses. The KOSPI fell as much as 1.4% in early trade.

** The benchmark index marked a fourth consecutive weekly loss with a 0.55% fall for the week.

** ** Foreigners were net sellers of 127.9 billion won ($105.62 million) worth of shares on the main board. They registered net sales of KOSPI shares for 12th consecutive session, the longest since January 2016.

** The won was quoted at 1,210.8 per dollar on the onshore settlement platform, 0.16% higher than its previous close at 1,212.7. The currency was little changed from a week ago against the dollar.

** In offshore trading, the won was quoted at 1,210.9 per U.S. dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,210.0 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.46%, after U.S. stocks were mixed . Japanese stocks rose 0.06%.

** The KOSPI has fallen 5.58% 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 413.12 million shares and, of the total traded issues of 893, the number of advancing shares was 203.

** The won has lost 7.9% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds rose 0.14 points to 111.46, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield fell by 5.6 basis points to 1.093%, while the benchmark 10-year yield fell by 6.7 basis points to 1.166%. ($1 = 1,210.9300 won)

(Reporting by Hayoung Choi; Editing by Rashmi Aich)


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