S.Korean stocks, won rise on signs of progress in U.S.-China trade talks

Trinity Airways Co

26/11/2019 02:45

* KOSPI rises, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, Nov 26 (Reuters) - Late morning round-up of South
Korean financial markets:
    ** South Korean shares rose on Tuesday as signs of progress
towards an interim trade deal between the United States and
China boosted investors' appetite for riskier assets. The Korean
won strengthened, while the benchmark bond yield edged down.
    ** As of 0206 GMT, the Seoul stock market's main KOSPI
 .KS11  rose 10.19 points, or 0.48%, to 2,133.69. 
    ** Traders pointed to China's decision to increase
punishments for intellectual property rights violations as a
fresh concession to the United States in the drawn-out and
volatile negotiations.  urn:newsml:reuters.com:*:nL4N28406V
    ** On Tuesday, China's commerce ministry said Vice Premier
Liu He, U.S. Trade representative Robert Lighthizer and U.S.
Treasury Secretary Steven Mnuchin held a phone call on issues
related to a phase one trade agreement.  urn:newsml:reuters.com:*:nB9N1RH02M    
    ** Expectations for progress in the Sino-U.S. trade talks
are driving a rally in risk assets such as equities and
emerging-market currencies, Park Sang-hyun, chief economist at
Hi Investment & Securities, said.
    ** However, foreigners were on track to be net sellers for a
14th straight session, having sold 45.2 billion won worth of
shares on the main board so far on Tuesday. 
    ** The won was quoted at 1,172.2 per dollar on the onshore
settlement platform  KRW=KFTC , 0.32% higher than its previous
close at 1,176.0.
    ** In offshore trading, the won  KRW=  was quoted at 1,173.2
per U.S. dollar, down 0.0% from the previous day, while in
non-deliverable forward trading its one-month contract
 KRW1MNDFOR=  was quoted at 1,172.3 per dollar.
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan  .MIAPJ0000PUS  was up 0.45%, after U.S. stocks rallied
 MKTS/GLOB . Japanese stocks  .N225  also rose 0.89%.
    ** The KOSPI has risen 4.54% so far this year, and gained
2.7% in the previous 30 trading sessions.
    ** The trading volume during the session in the KOSPI index
 .KS11  was 216.21 million shares and, of the total traded
issues of 904, the number of advancing shares was 513.
    ** The won has lost 4.8% against the dollar so far this
year.
    ** In money and debt markets, December futures on three-year
treasury bonds  KTBc1  fell 0.03 points to 110.17, while the
3-month Certificate of Deposit rate was not quoted during the
morning session.
    ** The most liquid 3-year Korean treasury bond yield was
flat at 1.475%, while the benchmark 10-year yield fell by 0.7
basis points to 1.719%.

 (Reporting by Choonsik Yoo; Editing by Aditya Soni)
 ((choonsik.yoo@thomsonreuters.com; +822 6936 1464))