S.Korea stocks rise as U.S. jobs data, China stimulus buoy sentiment

Hanjin Logistics

08/04/2019 03:13

* KOSPI index rises, foreigners buy
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yields fall

    SEOUL, April 8 (Reuters) - Round-up of South Korean
financial markets:
    ** South Korea's KOSPI stock index  .KS11  rose on Monday
tracking its Chinese peer, as U.S. jobs data and more China
stimulus boosted investor sentiment. The Korean won slid while
the benchmark bond yield also fell.
    
    ** U.S. employment growth accelerated from a 17-month low in
March, assuaging fears of an abrupt slowdown in economic
activity, but a moderation in wage gains supported the Federal
Reserve's decision to suspend further interest rate increases
this year.  urn:newsml:reuters.com:*:nL1N21N0FG
    
    ** China will step up its policy of targeted cuts to banks'
required reserve ratios to encourage financing for small and
medium-sized businesses that play a key role in economic growth.
 urn:newsml:reuters.com:*:nL3N21P06Z
    
    ** The Seoul stock market's main KOSPI rose 6.52 points or
0.30 percent to 2,216.13 points.
    
    ** Shares of Korean Air Lines'  003490.KS  parent Hanjin
Group's subsidiaries jumped on hopes for leadership renewal
after the group's Chairman Cho Yang-ho passed away on Monday due
to a chronic ailment. Korean Air gained 3.8 percent, while
Hanjin Kal Corp  180640.KS  and Hanjin Transportation Co Ltd
 002320.KS  surged 17.7 percent and 13.2 percent, respectively.
 urn:newsml:reuters.com:*:nL3N21Q020
    
    ** Foreigners were net buyers of 86.0 billion won worth of
shares on the main board.
    
    ** The won was quoted at 1,138.8 per dollar on the onshore
settlement platform  KRW=KFTC , 0.19 percent lower than its
previous close at 1,136.6.
    
    ** In offshore trading, the won  KRW=  was quoted at 1,138.4
per U.S. dollar, down 0.2 percent from the previous day, while
in one-year non-deliverable forward trading its one-month
contract  KRW1MNDFOR=  was quoted at 1,137.2 per dollar.
    
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan  .MIAPJ0000PUS  was up 0.45 percent, after U.S. stocks
ended its previous session with mild gains  MKTS/GLOB . Japanese
stocks  .N225  rose 0.09 percent.
    
    ** The KOSPI has risen 8.58 percent so far this year, and
has fallen 0.9 percent in the previous 30 trading sessions.
    
    ** The current price-to-earnings ratio is 12.10, the
dividend yield is 1.28 percent and the market capitalisation is
1,242.04 trillion won.
    
    ** The trading volume during the session on the KOSPI index
 .KS11  was 167.46 million shares and, of the total traded
issues of 895, the number of advancing shares was 445.
    
    ** The won has lost 2.0 percent against the U.S dollar this
year.
    
    ** In money and debt markets, June futures on three-year
treasury bonds  KTBc1  rose 0.05 points to 109.57, while the
3-month Certificate of Deposit rate was quoted at 1.86 percent.
    
    ** The most liquid 3-year Korean treasury bond yield fell
0.8 basis points to 1.727 percent, while the benchmark 10-year
yield eased 2.1 basis points to 1.871 percent.
    
    ** Norway's sovereign wealth fund, the world's largest, will
streamline its $300 billion fixed-income portfolio by cutting
emerging market bonds from the benchmark index it tracks, the
Finance Ministry said on Friday. Government and corporate bonds
including $6.3 billion worth bonds issued by South Korea would
be affected.  urn:newsml:reuters.com:*:nL8N21N2T3

 (Reporting by Joori Roh; Editing by Shreejay Sinha)
 ((joori.roh@thomsonreuters.com; +82 2 3704 5642; Reuters
Messaging: joori.roh.thomsonreuters.com@reuters.net))