S.Korea stocks rise modestly amid caution ahead of Fed

Ilshin Stone Co

18/06/2019 03:25

* KOSPI index edges higher, foreigners net sellers
    * Korean won gains versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, June 18 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korea's KOSPI index  .KS11  edged higher on Tuesday
amid caution ahead of the U.S. Federal Reserve's interest rate
meeting. Chinese President Xi Jinping's plan to visit North
Korea lifts some shares with exposure to the North. Korean won
strengthened, while the benchmark bond yield fell.
    
** As of 0206 GMT, the main KOSPI index rose 7.68 points or
0.37% to 2,098.75 points. 
    
** The Federal Reserve, facing fresh demands from President
Donald Trump to cut interest rates, is expected to leave
borrowing costs unchanged at a policy meeting this week but
possibly lay the groundwork for a rate cut later this year.
 urn:newsml:reuters.com:*:nL2N23L160
    
** Some investors are bargain hunting after the index fell for
the fourth straight session until the previous session, said Lee
Young-gon, an analyst from Hana Financial Investment. Xi's
planned visit has shifted the focus to some shares with exposure
to North Korea though it's not affecting the broader market, Lee
added. 
    
** Xi will visit North Korea for two days from Thursday, state
media in both countries reported on Monday, making him the first
Chinese leader to visit in 14 years.  urn:newsml:reuters.com:*:nL4N23O2PZ
    
** Among shares with exposure to North Korea, Daeho AL
 069460.KS  rose 5% and Ilshin Stone  007110.KS  gained 3%. 
    
** Foreigners were net sellers of 1.6 billion won ($1.35
million) worth of shares on the main board. 
    
** The won was quoted at 1,184.4 per dollar on the onshore
settlement platform  KRW=KFTC , 0.18% higher than its previous
close at 1,186.5.
     
** In offshore trading, the won  KRW=  was quoted at 1,184.0 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 1,182.0 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was up 0.15%, after U.S. stocks closed up
 MKTS/GLOB . Japanese stocks  .N225  fell 0.36%.
    
** The KOSPI has risen 2.73% so far this year, but lost 5.5% 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 221.69 million shares with 889 total traded issues.
The number of advancing shares was 367.
    
** The won has lost 5.8% against the U.S dollar so far this
year.
    
** In money and debt markets, June futures on three-year
treasury bonds  KTBc1  fell 0.03 points to 110.18, while the
3-month Certificate of Deposit rate was quoted at 1.80%.
    
** The most liquid 3-year Korean treasury bond yield rose by 0.5
basis points to 1.495%, while the benchmark 10-year yield fell
by 0.1 basis points to 1.620%.

($1 = 1,184.6000 won)

 (Reporting by Hayoung Choi; editing by Darren Schuettler)
 ((hayoung.choi@thomsonreuters.com; +82 2 3704 5643; Reuters
Messaging: hayoung.choi.thomsonreuters.com@reuters.net))