S.Korean stocks gain on improved sentiment in pharma sector

SillaJen

28/08/2019 08:07

* KOSPI index climbs, 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:*:nL3N25O093

    SEOUL, Aug 28 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares closed firmer on Wednesday as investors
flocked to pharmaceutical stocks following a sharp sell-off in
the recent days. The won weakened, while the benchmark bond
yield rose.
    
** The benchmark KOSPI  .KS11  ended up 16.49 points or 0.86% at
1,941.09. 
    
** Despite external factors remained uncertain, rebound of
pharmaceutical shares led gains of the broader market, said Lee
Young-gon, an analyst at Hana Financial Investment. Investors
bought bio shares on views that there would be no further
negative issues, Lee added. 
    
** The medical sub-index  .KS32  was the biggest percentage
gainer among KOSPI sub-indexes, jumping 4.6%. The junior KOSDAQ
 .KQ11  rose 2.5%, also helped by bullish drugmakers. 
    
** The medical sub-index has stumbled nearly 30% so far this
year, hit by unfavourable news including suspension of
SillaJen's  215600.KQ  clinical tests.  urn:newsml:reuters.com:*:nL4N25118I
        
** Foreigners were net sellers of 51.9 billion won ($42.80
million) worth of shares on the main board on Wednesday. 
     
** The won was quoted at 1,213.9 per dollar on the onshore
settlement platform  KRW=KFTC , 0.22% lower than its previous
close at 1,211.2.
     
** In offshore trading, the won  KRW=  was quoted at 1,213.8 per
U.S. dollar, down 0.2% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,212.7 per dollar.
     
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was unchanged, while U.S. stocks closed lower
 MKTS/GLOB . Japanese stocks  .N225  rose 0.11%.
     
** The KOSPI has fallen 4.90% so far this year, and lost 7.6% 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.
     
** Trading volume during the session on the KOSPI index  .KS11 
was 280.08 million shares and, of the total traded issues of
892, the number of advancing shares was 609.
     
** The won has lost 8.1% against the U.S dollar so far this
year.
     
** In money and debt markets, September futures on three-year
treasury bonds  KTBc1  rose 0.04 points to 111.22, while the
3-month Certificate of Deposit rate was quoted at 1.49%.
     
** The most liquid 3-year Korean treasury bond yield rose by 4.5
basis points to 1.215%, while the benchmark 10-year yield rose
by 3.9 basis points to 1.274%.    

($1 = 1,212.6600 won)    

 (Reporting by Hayoung Choi; editing by Uttaresh.V)
 ((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))