S.Korean stocks climb amid cautious optimism after Sino-U.S. trade deal

Celltrion Pharm

16/01/2020 06:55

* KOSPI jumps, foreigners net sellers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield rises
    * For the midday report, please click  urn:newsml:reuters.com:*:nL4N29L06Q

    SEOUL, Jan 16 (Reuters) - Round-up of South Korean financial
markets: 
South Korean stocks ended firmer on Thursday, led by automotive
and pharmaceutical sectors, though investors remained wary of
unresolved trade issues after an initial pact was signed by
Washington and Beijing. The Korean won dropped, while the
benchmark bond yield rose.
    
** The United States and China signed the interim trade deal
that will roll back some tariffs and boost Chinese purchases of
U.S. goods and services. The deal will, however, leave in place
25% tariffs on a $250 billion array of Chinese industrial goods
and components used by U.S. manufacturers.  urn:newsml:reuters.com:*:nL1N29L033   
    
** The pact does not address structural economic issues that led
to the trade conflict. Officials say these will be dealt in
Phase 2 negotiations, though the differences there are so
fundamental that many investors doubt whether any deal will come
through.    
    
** The Seoul stock market's main KOSPI  .KS11  ended up 17.07
points, or 0.77%, at 2,248.05. 
    
** Shares of Hyundai Motor  005380.KS  closed up 3% following
positive reviews on the first sport-utility vehicle, under its
Genesis premium brand, that was unveiled on Wednesday.
 urn:newsml:reuters.com:*:nL4N29L02K
    
** The KOSPI's transportation sub-index  .KS42  tacked on 1.1%,
buoyed by Hyundai Motor, its affiliates and suppliers. 
    
** South Korean drugmaker Celltrion  068270.KS  and its
affiliates surged after group chief hinted at potential merger.
Celltrion gained 2.3%, while Celltrion Pharm  068760.KQ  and
Celltrion HealthCare  091990.KQ  firmed 19.3% and 6%,
respectively.  urn:newsml:reuters.com:*:nL4N29L0S1    
       
** Foreigners were net sellers of 36.8 billion won ($31.70
million) worth of shares on the main board. 
    
** The won was quoted at 1,161.1 per dollar on the onshore
settlement platform  KRW=KFTC , 0.35% lower than its previous
close at 1,157.0.
    
** In offshore trading, the won  KRW=  was quoted at 1,161.0 per
U.S. dollar, down 0.3% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,159.6 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was up 0.12%, after U.S. stocks ended higher
overnight  MKTS/GLOB . Japanese stocks  .N225  rose 0.07%.
    
** The KOSPI climbed 2.29% so far this year, and gained 6.8% in
the previous 30 trading sessions.
    
** The trading volume during the session in the KOSPI index
 .KS11  was 796.46 million shares and, of the total traded
issues of 907, the number of advancing shares was 373.
    
** The won lost 0.4% against the dollar so far this year.
    
** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  fell 0.14 points to 110.29, while the
3-month Certificate of Deposit rate was quoted at 1.46% in late
afternoon trade.
    
** The most liquid 3-year Korean treasury bond yield rose by 2.4
basis points to 1.415% in late afternoon trade, while the
benchmark 10-year yield climbed 0.5 basis points to 1.696%.

    ($1 = 1,161.0400 won)
    

 (Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips)
 ((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))