S.Korean stocks gain as trade hopes boost confidence; ex-div adjustment caps gains

HYOSUNG

27/12/2019 02:39

* KOSPI climbs, foreigners net buyers
    * Korean won inches higher versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Dec 27 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares gained on Friday on expectations that the
market will rally next year, supported by easing Sino-U.S. trade
tensions, even as shares on the index went ex-dividend. The won
and the benchmark bond yield rose as well. 
    
** The Seoul stock market's main KOSPI  .KS11  rose 4.24 points,
or 0.19%, to 2,202.17 by 0235 GMT.
    
** In a yearly event, 46.0 points - equivalent to 2.09% - were
shaved off the benchmark index by the ex-dividend price
adjustment, according to the Korea Exchange. 
    
** Considering the adjustment, the index surged more than 2% on
expectations of growth going forward, said Lee Young-gon, an
analyst at Hana Financial Investment. 
    
** Sentiment was boosted after Beijing said on Thursday it was
in close contact with Washington about an initial trade
agreement, shortly after U.S. President Donald Trump talked up a
signing ceremony for the recently struck Phase 1 trade deal.
 urn:newsml:reuters.com:*:nB9N28903U
        
** Shares of Hyosung Corp  004800.KS  dropped after local media
reported that its chairman Hyun-joon Cho was indicted for
unfairly supporting affiliates.  urn:newsml:reuters.com:*:nL4N29103Y
    
** Foreigners were net buyers of 4.2 billion won ($3.62 million)
worth of shares on the main board. 
    
** The won was quoted at 1,161.2 per dollar on the onshore
settlement platform  KRW=KFTC , 0.05% higher than its previous
close at 1,161.8.
    
** In offshore trading, the won  KRW=  was quoted at 1,160.9 per
U.S. dollar, flat from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,159.1 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was up 0.51%, after U.S. stocks rallied to
record highs overnight  MKTS/GLOB . Japanese stocks  .N225  fell
0.06%.
    
** The KOSPI has risen 7.95% so far this year, and gained 3.6%
in the previous 30 trading sessions.
    
** The trading volume during the session in the KOSPI index
 .KS11  was 200.00 million shares and, of the total traded
issues of 904, the number of advancing shares was 379.
    
** The won has lost 3.9% against the dollar so far this year.
    
** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  fell 0.04 points to 110.50, while the
3-month Certificate of Deposit rate was quoted at 1.53%.
    
** The most liquid 3-year Korean treasury bond yield fell by 0.1
basis points to 1.367%, while the benchmark 10-year yield rose
by 2.3 basis points to 1.667%.    

($1 = 1,160.7300 won)
    

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