S.Korea stocks, won jump on trade-deal optimism

Woongjin Co

14/10/2019 03:01

* KOSPI gains 1.2%, foreigners net buyers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Oct 14 (Reuters) - Round-up of South Korean financial
markets:
    
** South Korean shares jumped on Monday, after the United States
and China outlined a partial trade deal in the biggest step to
end their 15-month long spat. Both the Korean won and the
benchmark bond yield also rose.
    
** U.S. President Donald Trump on Friday outlined the first
phase of a deal to end a trade war with China and suspended a
threatened tariff hike, but officials on both sides said much
more work needed to be done before an accord could be agreed.
 urn:newsml:reuters.com:*:nL2N26W15C
    
** As of 0159 GMT, the Seoul stock market's main KOSPI  .KS11 
rose 27.66 points, or 1.35%, to 2,072.27. 
    
** Though the agreement was not complete, but such deal had been
unprecedented in past one and half years, said Huh Jae-hwan, an
analyst at Eugene Investment. Unless the trade conflicts
escalate further, performances of South Korean chip makers and
chemical firms would improve next year, he added. 
    
** Shares of Samsung Electronics  005930.KS  rose more than 2%
to their highest level since June 2018, as demand from China was
seen growing with signs of a resolution to the Sino-U.S. trade
conflict.  urn:newsml:reuters.com:*:nL3N26Z069
    
** Shares of Woongjin  016880.KS  and Woongjin Thinkbig
 095720.KS  soared, as a gaming firm Netmarble  251270.KS  was
selected as a preferred bidder to buy a stake in their water
purification unit, Woongjin Coway  021240.KS .  urn:newsml:reuters.com:*:nL3N26Z01M 
        
** Foreigners were net buyers of 89.6 billion won ($75.60
million) worth of shares on the main board. 
    
** The won was quoted at 1,185.2 per dollar on the onshore
settlement platform  KRW=KFTC , 0.30% higher than its previous
close at 1,188.8.
    
** In offshore trading, the won  KRW=  was quoted at 1,185.2 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 1,184.3 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  was up 0.80%, after U.S. stocks firmed more than
1% on Friday  MKTS/GLOB . 
    
** The KOSPI has risen 1.44% so far this year, and gained 6.7%
in the previous 30 trading sessions.
     
** The trading volume during the session in the KOSPI index
 .KS11  was 180.39 million shares and, of the total traded
issues of 885, the number of advancing shares was 639.
    
** The won has lost 5.9% against the dollar so far this year.
    
** In money and debt markets, December futures on three-year
treasury bonds  KTBc1  fell 0.05 points to 110.83, while the
3-month Certificate of Deposit rate was quoted at 1.55%.
    
** The most liquid 3-year Korean treasury bond yield rose by 0.9
basis points to 1.293%, while the benchmark 10-year yield rose
by 1.2 basis points to 1.505%.

($1 = 1,185.2000 won)    

 (Reporting by Hayoung Choi; Editing by Rashmi Aich)
 ((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))