S.Korean stocks slip ahead of Fed rate decision; trade woes resurface

Amorepacific

30/10/2019 06:51

* KOSPI declines, foreigners net sellers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield falls
    * For the midday report, please click  urn:newsml:reuters.com:*:nL3N27F0NJ

    SEOUL, Oct 30 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares dropped on Wednesday as investors
cautiously awaited cues from the U.S. Federal Reserve's rate
decision, amid worries about a possible delay in U.S.-China
trade deal. Both the Korean won and the benchmark bond yield
fell.
    
** The Seoul stock market's main KOSPI  .KS11  ended down 12.42
points, or 0.59%, at 2,080.27.
    
** An interim trade agreement between the United States and
China might not be completed in time for signing next month as
expected but that does not mean the accord is falling apart, a
U.S. administration official said on Tuesday.  urn:newsml:reuters.com:*:nL2N27E0ZB
    
** The Fed is expected to deliver a rate cut, but markets were
looking to the Fed's stance on its policy outlook.  urn:newsml:reuters.com:*:nL3N27F0R3
    
** Shares of Amorepacific Corp  090430.KS , South Korea's top
cosmetics maker, rallied after posting its operating profit up
41% to 108 billion won ($92.49 million) in July-September
period.  urn:newsml:reuters.com:*:nL3N27F1IU
         
** Foreigners were net sellers of 26.0 billion won worth of
shares on the main board. 
    
** The won was quoted at 1,168.1 per dollar on the onshore
settlement platform  KRW=KFTC , 0.44% lower than its previous
close at 1,163.0.
    
** In offshore trading, the won  KRW=  was quoted at 1,168.0 per
U.S. dollar, flat from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,166.7 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was down 0.32%, after U.S. stocks closed lower
 MKTS/GLOB . Japanese stocks  .N225  fell 0.57%.
    
** The KOSPI has risen 1.92% so far this year, and gained 2.1%
in the previous 30 trading sessions.
    
** The trading volume during the session in the KOSPI index
 .KS11  was 410.99 million shares and, of the total traded
issues of 901, the number of advancing shares was 263.
    
** The won has lost 4.5% against the dollar so far this year.
    
** In money and debt markets, December futures on three-year
treasury bonds  KTBc1  was unchanged at 110.07, while the
3-month Certificate of Deposit rate was quoted at 1.44%.
    
** The most liquid 3-year Korean treasury bond yield fell by 1.6
basis points to 1.485%, while the benchmark 10-year yield fell
by 2.1 basis points to 1.762%.

($1 = 1,167.7600 won)

 (Reporting by Hayoung Choi; Editing by Rashmi Aich)
 ((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))