SEOUL: Round-up of South Korean financial markets: South Korea's KOSPI stock index ended down on Tuesday as Japan's export curbs against Seoul added to trade uncertainties over the Sino-U.S. talks, while automakers slid after posting lean sales in June. The won and the benchmark bond yield fell.
** Japan's decision to tighten controls on exports of high-tech materials to South Korea is not in violation of World Trade Organization (WTO) rules, Industry Minister Hiroshige Seko said on Tuesday.
** Japan on Monday said it will tighten control exports of high-tech materials used in smartphone displays and chips to South Korea amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two.
** Meanwhile, U.S. President Donald Trump said trade talks with China were underway and any deal would need to be somewhat tilted in favour of the United States. China has had a "big advantage" over the United States in trade for "many years," Trump said.
** Frictions with Japan added to uncertainties, while the Sino-U.S. trade spat remains unresolved, said Cho Byung-hyun, an analyst from Yuanta Securities Korea. Generally, investors are unconvinced of South Korean markets, Cho added.
** The Seoul stock market's main KOSPI ended down 7.71 points or 0.36% at 2,122.03 points.
** The auto sub-index was the biggest percentage loser with a 1.1% drop, after automakers posted tepid sales in June. Shares of Ssangyong Motor closed 4% weaker after the company said it would suspend its Pyeongtake factory to maintain optimum inventory. ** Foreigners were net buyers of 34.1 billion won ($29.27 million) worth of shares on the main board.
** The won was quoted at 1,166.0 per dollar on the onshore settlement platform, 0.62% lower than its previous close at 1,158.8.
** In offshore trading, the won was quoted at 1,165.5 per U.S. dollar, down 0.4% from the previous session, while in non-deliverable forward trading its one-month contract was quoted at 1,164.4 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.35%, after U.S. stocks jumped. Japanese stocks rose 0.11%.
** The KOSPI climbed 3.97% so far this year, and gained 3.6% in the previous 30 trading sessions.
** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28% and the market capitalisation is 1,242.04 trillion won.
** The trading volume during the session on the KOSPI index was 442.10 million shares and, of the total traded issues of 894, the number of advancing shares was 421.
** The won lost 4.3% against the U.S dollar so far this year.
** In money and debt markets, September futures on three-year treasury bonds edged up 0.05 points to 110.38, while the 3-month Certificate of Deposit rate was quoted at 1.78%.
** The most liquid 3-year Korean treasury bond yield fell by 0.9 basis points to 1.468%, while the benchmark 10-year yield fell by 1.5 basis points to 1.589%.
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