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SEOUL: Round-up of South Korean financial markets, South Korea's KOSPI stock index weakened on Friday, although Samsung Electronics reported record March-quarter profit, on heightened risk aversion as US President Donald Trump's threat to impose more tariffs on China aggravated trade war fears.

The Korean won marked further losses in the local platform, while bond yields also fell.

At 06:30 GMT, the KOSPI closed down 7.94 points or 0.33 percent at 2,429.58. The benchmark index shed 0.7 percent for the week.

Samsung Electronics fell 0.7 percent as investors took profits after it gained nearly 4 percent on Thursday.

LG Electronics said on Friday first-quarter operating profit likely rose 20 percent from a year earlier, beating market expectations. The stock rose 5.7 percent.

The won was quoted at 1,069.6 per dollar on the onshore settlement platform, 0.93 percent weaker than its previous close at 1,059.7.

The currency extended losses as investors turned away from riskier assets as trade tensions between the United States and China flared back again.

In offshore trading, the won was quoted at 1,067.59 per US dollar, down 0.56 percent from the previous day, while in one-year non-deliverable forwards it fetched 1,052.7 per dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.04 percent, after US stocks ended the previous session with mild gains. Japanese stocks weakened 0.36 percent.

The KOSPI is down around 1.2 percent so far this year, and up by 0.32 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 446,361,000 shares, and of the total traded issues of 887, the number of advancing shares was 315.

Foreigners were net sellers of 238,347 million won worth of shares.

The US dollar has risen 0.11 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 1,098.4 on February 6 2018.

In money and debt markets, June futures on three-year treasury bonds rose 0.08 points to 107.92.

The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65 percent, while the benchmark 3-year Korean treasury bond yielded 2.158 percent, lower than the previous day's 2.18 percent.

 

Copyright Reuters, 2018

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