South Korean stocks close steady as ex-dividend limits gains

SEOUL: Round-up of South Korean financial markets:

** South Korea's KOSPI stock index closed nearly unchanged on Thursday as shares went ex-dividend, offsetting positive sentiment following a rally on Wall Street. The won rose while bond yields were barely changed.

** According to the Korea Exchange, 40.51 points - equivalent to 2 percent - were shaved off the benchmark index by the ex-dividend price adjustment.

** The KOSPI closed 0.43 points, or 0.02 percent, higher at 2,028.44. Gains were also capped as weak China data raised concerns of slowing growth in the world's second-largest economy.

** Earnings at China's industrial firms in November dropped for the first time in nearly three years, as slackening external and domestic demand left businesses facing more strain in 2019 in a sign of rising risks to the world's second-largest economy.

** There are not many issues that could improve the fundamentals amid rising concerns about global growth and major companies lowering their guidance, said Jeong Dai, an analyst with Meritz Securities.

** Shares of low budget carrier Air Busan Co Ltd , an affiliate of Asiana Airlines Inc, surged xxx percent on their first day of trading.

** The won was quoted at 1,120 per dollar on the onshore settlement platform, 0.48 percent firmer than its previous close at 1,125.4.

** In offshore trading, the won was quoted at 1,120.47 per U.S. dollar, up 0.28 percent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,102.35 per dollar.

** MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.54 percent, after U.S. stocks ended the previous session with gains. Japanese stocks rose 3.88 percent.

** The KOSPI is down around 17.8 percent so far this year, and down by 2.09 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 390,094,000 shares and, of the total traded issues of 896, the number of advancing shares was 521.

** Foreigners were net buyers of 241,840 million won worth of shares.

** The U.S dollar has risen 5.07 percent against the won this year. The won's high for the year is 1,053.55 per dollar on April 2, 2018 and low is 1,146.26 on Oct. 11, 2018.

** In money and debt markets, March futures on three-year treasury bonds fell 0.01 points to 109.24 from their previous close at 109.25.

** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.92 percent, while the benchmark 3-year Korean treasury bond yielded 1.807 percent, barely changed from the previous day's 1.81 percent.