Views Article – Sharenet Wealth

Asia, Forex

S.Korean stocks eke out gains; Fed in focus

* KOSPI index rises, foreigners net sellers

* Korean won strengthens against U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

Seoul, Aug 21 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares ended slightly higher on Wednesday, ahead of the release of Fed’s July meeting minutes later in the day and Fed Chair Jerome Powell’s Jackson Hole speech this week. The Korean won strengthened, and the benchmark bond yield rose.

** The Seoul stock market’s main KOSPI rose 4.40 points, or 0.22%, to 1,964.65 points.

** KOSPI seems to have lost direction … investors are on a wait-and-see mode before the Jackson Hole speech as they seek clues on U.S. interest rate cuts and global economic growth, said Noh Dong-gill, an analyst at NH Investment & Securities

** Foreigners were net sellers of 128.6 billion won worth of shares on the main board.

** The won was quoted at 1,202.5 per dollar on the onshore settlement platform, 0.48% higher than its previous close at 1,208.3.

** In offshore trading, the won was quoted at 1,201.9 per U.S. dollar, up 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,200.9 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.10%, after U.S. stocks fell . Japanese stocks fell 0.28%.

** The KOSPI has fallen 3.74% so far this year, and lost 5.0% 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 382.23 million shares and, of the total traded issues of 892, the number of advancing shares was 552.

** The won has lost 7.2% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds fell 0.18 points to 111.21, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield rose by 2.8 basis points to 1.129%, while the benchmark 10-year yield increased 4.9 basis points to 1.247%. (Reporting by Yuna Park; Editing by Sriraj Kalluvila)

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