S.Korean stocks rise as U.S. rate-cut views remain solid

SKC

12/07/2019 08:13

* KOSPI index gains for 3rd straight session
    * Foreigners net buyers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield rises
    * For the midday report, please click  urn:newsml:reuters.com:*:nL4N24D0GW

    SEOUL, July 12 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korean shares rose on Friday after Federal Reserve
Chair Jerome Powell again hinted at an interest rate cut later
this month, while investors focus shifted to second-quarter
corporate earnings. The won weakened, while the benchmark bond
yield rose.    
** Powell indicated again on Thursday that an interest rate cut
from the U.S. central bank was likely at its next meeting later
this month as businesses slow investment due to trade disputes
and a global growth slowdown.  urn:newsml:reuters.com:*:nL2N24C14C    
** Uncertainties around the U.S. rate cut have eased, lifting
South Korean shares for a third consecutive session, said Lee
Young-gon, an analyst at Hana Financial Investment. Investors
will focus on corporate earnings from next week, he added.    
** China's yuan-denominated exports rose 6.1% in the first half
of this year from the same period a year earlier, while imports
increased 1.4%, customs data showed after market hours on
Friday.  urn:newsml:reuters.com:*:nB9N23X02R
     
** The Seoul stock market's main KOSPI index  .KS11  ended up
6.08 points, or 0.29%, at 2,086.66 points. It fell 1.1% this
week.     
** Shares of SKC Kolon PI  178920.KQ  closed up 10.3% after the
company's top shareholders, SKC  011790.KS  and Kolon Industries
 120110.KS , said they were considering selling their stakes in
their joint venture.  urn:newsml:reuters.com:*:nL4N24D0AW  urn:newsml:reuters.com:*:nS6N23K019    
** Foreigners were net buyers of 3.1 billion won ($2.63 million)
worth of shares on the main board. 
    
** The won was quoted at 1,179.2 per dollar on the onshore
settlement platform  KRW=KFTC , 0.48% lower than its previous
close at 1,173.5. On a weekly basis, the currency lost 0.7%. 
     
** In offshore trading, the won  KRW=  was quoted at 1,178.8 per
U.S. dollar, down 0.4% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,177.0 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was down 0.01%, after U.S. stocks gained
 MKTS/GLOB . Japanese stocks  .N225  rose 0.20%.
    
** The KOSPI has risen 2.24% so far this year, and gained 2.8%
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 398.35 million shares and, of the total traded
issues of 896, the number of advancing shares was 460.
    
** The won has lost 5.4% against the U.S dollar so far this
year.
    
** In money and debt markets, September futures on three-year
treasury bonds  KTBc1  fell 0.03 point to 110.51, while the
3-month Certificate of Deposit rate was quoted at 1.78%.
    
** The most liquid 3-year Korean treasury bond yield rose by 1.0
basis point to 1.429%, while the benchmark 10-year yield rose by
2.7 basis points to 1.574%.

($1 = 1,178.7200 won)

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