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Markets

South Korean stocks move tentatively, won weaker

Published Updated

SEOUL: Round-up of South Korean financial markets: South Korea's KOSPI stock index ended flat on Wednesday as investors held their positions before the US Federal Reserve's rate decision.

The Korean won fell, while bond yields rose.

At 06:30 GMT, the KOSPI was down 0.55 points, or 0.02 percent, at 2,484.97.

The won was quoted at 1,072.3 per dollar on the onshore settlement platform, 0.35 percent weaker than its previous close at 1,068.6.

In offshore trading, the won was quoted at 1,071.2 per US dollar, down 0.03 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,060.3 per dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.01 percent, after US stocks ended the previous session with mild gains.

The KOSPI is up around 0.7 percent so far this year, and up by 3.23 percent in the previous 30 days.

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 was 391,077,000 shares, and of the total traded issues of 886, the number of advancing shares was 328.

Foreigners were net sellers of 65,132 million won worth of shares.

The U.S dollar has risen 0.45 percent against the won this year. The won's high for the year is 1,056.67 per dollar on Jan. 14, 2018 and low is 1,098.4 on Feb. 6, 2018.

In money and debt markets, June futures on three-year treasury bonds were unchanged at 107.39.

The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65 percent, while the benchmark 3-year Korean treasury bond yielded 2.294 percent, higher than the previous day's 2.29 percent.

 

Copyright Reuters, 2018

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