S.Korean stocks plunge after private survey hints at softening economy

Jaeyoung Solutec Co

02/01/2019 07:12

* KOSPI index falls 1.5 pct, foreigners sell
    * Korean won falls versus U.S. dollar
    * South Korea bond yields down
    * For the midday report, please click  urn:newsml:reuters.com:*:nL3N1Z20AQ

    SEOUL, Jan 2 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korea's KOSPI stock index  .KS11  plunged 1.5
percent on Wednesday, the first trading session of the new year,
after private surveys hinted at softening economies in South
Korea and China. The won and bond yields also declined.
    
    ** South Korean factory activity shrank for a second
consecutive month in December as global demand further cooled, a
private survey showed, adding to signs of softening in the
export-dependent economy.  urn:newsml:reuters.com:*:nS7N1OY01T
    
    ** China's factory activity contracted for the first time in
19 months in December as domestic and export orders continued to
weaken, a private survey showed, pointing to a rocky start for
the world's second-largest economy in 2019.  urn:newsml:reuters.com:*:nS7N1O402G
    
    ** The KOSPI closed down 31.04 points at 2,010.00.
    
    ** South Korean companies with a branch in the Kaesong
Industrial Complex in North Korea jumped after North Korean
leader Kim Jong Un said on Tuesday he was willing to restart the
complex without any conditions. Jaeyoung Solutec Co Ltd
 049630.KQ , In The F Co Ltd  014990.KS  and J.Estina Co Ltd
 026040.KQ  rose 4.9 percent, 8.4 percent and 5.8 percent,
respectively.  urn:newsml:reuters.com:*:nL3N1Z208K

    ** South Korean games makers rose after local company WeMade
Entertainment Co Ltd  112040.KQ  won a copyright infringement
lawsuit against a Chinese firm, while China's approval for the
release of games boosted investor sentiment. Shares of WeMade
jumped 17.9 percent, while Actoz Soft Co Ltd  052790.KQ  and
Joymax Co Ltd  101730.KQ  gained 6.8 and 4.8 percent,
respectively.  urn:newsml:reuters.com:*:nL3N1Z20E6

    ** South Korean refineries tumbled as declining oil prices
darken their profit outlook. U.S. crude futures fell 24.8
percent last year, while brent crude futures declined 19.5
percent. Shares of S-Oil  010950.KS  closed down 6.6 percent,
while those of GS Holdings  078930.KS  and SK Innovation
 096770.KS  ended down 6 percent and 5.9 percent, respectively.
 urn:newsml:reuters.com:*:nL3N1Z20XQ
    
    ** The won was quoted at 1,119 per dollar on the onshore
settlement platform  KRW=KFTC , 0.29 percent weaker than its
previous close at 1,115.7.
    
    ** In offshore trading, the won  KRW=  was quoted at
1,118.74 per U.S. dollar, down 0.62 percent from the previous
day, while in one-year non-deliverable forwards  KRWNDFOR=  it
was being transacted at 1,100.95 per dollar.
    
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan  .MIAPJ0000PUS  was down 1.59 percent, after U.S. stocks
ended the previous session with gains  MKTS/GLOB . Japanese
stocks  .N225  weakened 0.31 percent.
        
    ** The current price-to-earnings ratio is 12.10, the
dividend yield is 1.28 percent and the market capitalisation is
1,242.04 trillion won.
    
    ** The trading volume during the session on the KOSPI index
 .KS11  was 321,760,000 shares and, of the total traded issues
of 897, the number of advancing shares was 234.
    
    ** Foreigners were net sellers of 26,354 million won worth
of shares.
        
    ** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  rose 0.08 points to 109.29.
    
    ** The Korean 3-month Certificate of Deposit benchmark rate
was quoted at 1.93 percent, while the benchmark 3-year Korean
treasury bond yielded 1.801 percent, lower than the previous
day's 1.82 percent.

 (Reporting by Joori Roh; Editing by Subhranshu Sahu)
 ((joori.roh@thomsonreuters.com; +82 2 3704 5642; Reuters
Messaging: joori.roh.thomsonreuters.com@reuters.net))