S.Korean stocks jump on chipmakers; investors eye Trump speech
12/11/2019 07:03
* KOSPI jumps, foreigners net sellers
* Korean won strengthens versus U.S. dollar
* South Korea benchmark bond yield rises
* For the midday report, please click urn:newsml:reuters.com:*:nL4N27S02K
SEOUL, Nov 12 (Reuters) - Round-up of South Korean financial
markets:
** Chipmakers pushed South Korean shares higher on Tuesday, as
investors waited for a speech by U.S. President Donald Trump
later in the day that could offer clues on trade talks with
China. The Korean won and the benchmark bond yield rose as well.
** The electric sub-index .KS41 advanced 1.8%, buoyed by
Samsung Electronics 005930.KS and SK Hynix 000660.KS which
closed up nearly 2% and 2.3%, respectively.
** After a recent correction, chipmakers are rising again on
expectations of higher demand, said Cho Byung-hyun, an analyst
at Yuanta Securities Korea.
** The Seoul stock market's main KOSPI index .KS11 ended up
16.83 points, or 0.79%, at 2,140.92.
** President Trump is scheduled to speak at the Economic Club of
New York later in the day, with investors anxious for any
positive news about his administration's long-running trade war
with China.
** A consortium led by South Korean construction firm Hyundai
Development Co 294870.KS has been picked as the preferred
bidder for a controlling stake in Asiana Airlines 020560.KS .
The news sent Asiana Airlines' shares 13% higher. urn:newsml:reuters.com:*:nL4N27S10H
** Foreigners were net sellers of 66.5 billion won ($57.27
million) worth of shares on the main board.
** The won was quoted at 1,160.8 per dollar on the onshore
settlement platform KRW=KFTC , 0.52% higher than its previous
close at 1,166.8.
** In offshore trading, the won KRW= was quoted at 1,160.8 per
U.S. dollar, up 0.3% from the previous day, while in
non-deliverable forward trading its one-month contract
KRW1MNDFOR= was quoted at 1,160.2 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was up 0.49%, after U.S. stocks closed down
overnight. Japanese stocks .N225 rose 0.81%. MKTS/GLOB
** The KOSPI has risen 4.89% so far this year, and gained 2.4%
in the previous 30 trading sessions.
** The trading volume during the session in the KOSPI index
.KS11 was 601.67 million shares and, of the total traded
issues of 904, the number of advancing shares was 426.
** The won has lost 3.9% against the dollar so far this year.
** In money and debt markets, December futures on three-year
treasury bonds KTBc1 fell 0.15 points to 109.86, while the
3-month Certificate of Deposit rate was quoted at 1.53% in late
afternoon trade.
** The most liquid 3-year Korean treasury bond yield rose by 7.2
basis points to 1.568% in late afternoon trade, while the
benchmark 10-year yield rose by 5.7 basis points to 1.842%.
($1 = 1,161.2300 won)
(Reporting by Hayoung Choi; Editing by Aditya Soni)
((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))