S.Korea stocks steady; weak pharmaceutical shares cap gains

Hanmi Science

04/07/2019 03:14

* KOSPI index steady, foreigners net buyers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises 

    SEOUL, July 4 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korea's KOSPI stock index  .KS11  was flat on Thursday,
as a sharp fall in pharmaceutical shares offset rising investor
optimism over an interest rate cut by the U.S. Federal Reserve.
The Korean won and the benchmark bond yield rose.
    
** Recent data from multiple sectors pointed to slowing economic
growth in the United States, bolstering the prospect of rate
cuts by the Federal Reserve.  urn:newsml:reuters.com:*:nL4N2442SV
    
** The U.S. trade deficit jumped in May and trade tensions
between the United States and China helped drive activity in the
services sector to a two-year low in June, further signs that
economic growth slowed sharply in the second quarter.
 urn:newsml:reuters.com:*:nL2N2430VX
    
** New orders for U.S.-made goods fell for a second straight
month May while shipments barely rose, pointing to continued
weakness in manufacturing.  urn:newsml:reuters.com:*:nLNS3IEF6N
    
** As of 0204 GMT, the Seoul stock market's main KOSPI fell 0.39
points, or 0.02%, to 2,095.63.
    
** South Korea's Hanmi Pharm Co Ltd  128940.KS  and Hanmi
Science  008930.KS  plunged 22% and 24%, respectively, after
Janssen Pharmaceuticals decided to return rights for
obesity/diabetes drug to Hanmi Pharm. The pharmaceutical
sub-index  .KS32  was the biggest percentage loser by falling
more than 2%.  urn:newsml:reuters.com:*:nL4N24502I
** Foreigners were net buyers of 15.4 billion won ($13.18
million) worth of shares on the main board. 
    
** The won was quoted at 1,168.6 per dollar on the onshore
settlement platform  KRW=KFTC , 0.23% higher than its previous
close at 1,171.3.
     
** In offshore trading, the won  KRW=  was quoted at 1,168.3 per
U.S. dollar, up 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,167.2 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was up 0.40%, after U.S. stocks closed at record
highs  MKTS/GLOB . Japanese stocks  .N225  rose 0.37%.
    
** The KOSPI has risen 2.94% so far this year, and gained 1.7%
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.
    
** The trading volume during the session on the KOSPI index
 .KS11  was 159.64 million shares and, of the total traded
issues of 889, the number of advancing shares was 337.
    
** The won has lost 4.5% against the U.S dollar so far this
year.
    
** In money and debt markets, September futures on three-year
treasury bonds  KTBc1  fell 0.01 points to 110.52, while the
3-month Certificate of Deposit rate was quoted at 1.78%.
    
** The most liquid 3-year Korean treasury bond yield rose by 0.3
basis points to 1.432%, while the benchmark 10-year yield rose
by 0.5 basis points to 1.539%.

($1 = 1,168.3000 won)

 (Reporting by Hayoung Choi; Editing by Rashmi Aich)
 ((hayoung.choi@thomsonreuters.com; +82 2 3704 5643; Reuters
Messaging: hayoung.choi.thomsonreuters.com@reuters.net))