Views Article – Sharenet Wealth

Asia, Forex

S.Korean stocks pare early losses; Powell speech eyed

* KOSPI index falls, foreigners net buyers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

Seoul, Aug 23 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares pared losses to close slightly lower on Friday, but ended the week with a gain of over 1%. The won weakened, while the benchmark bond yield rose. Investors now await Fed Chair Jerome Powell’s speech at Jackson Hole.

** The Seoul stock market’s main KOSPI fell 2.71 points or 0.14% to 1,948.30.

** South Korea unexpectedly decided to end the intelligence sharing pact with Japan, and now Japan’s response will be a key point on how the market will move next week, said Lee Won, an analyst at Bookook Securities.

** However, South Korea will share intelligence with Japan through a three-way channel involving the United States, despite the decision to scrap a pact with its neighbour, a senior official of the presidential Blue House said on Friday.

** Foreigners were net buyers of 8.2 billion won worth of shares on the main board.

** The won was quoted at 1,210.6 per dollar on the onshore settlement platform, 0.26% lower than its previous close at 1,207.4.

** In offshore trading, the won was quoted at 1,210.5 per U.S. dollar, down 0.1% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,209.6 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.25%. Japanese stocks rose 0.40%.

** The KOSPI has fallen 4.54% so far this year, and lost 5.2% 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.

** Trading volume during the session on the KOSPI index was 365.60 million shares and, of the total traded issues of 893, the number of advancing shares was 245.

** The won has lost 7.8% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds fell 0.15 points to 111.17, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield rose by 5.1 basis points to 1.181%, while the benchmark 10-year yield rose by 4.2 basis points to 1.271%. (Reporting by Yuna Park; editing by Uttaresh.V)

© 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 ( )