October 10, 2019 / 7:17 AM / 2 months ago

S.Korean stocks, won end weaker; high-level trade talks in focus

* KOSPI drops, foreigners sell

* Korean won edges down against USD

* South Korea benchmark bond yields rise

* For the midday report, please click

SEOUL, Oct 10 (Reuters) - Round-up of South Korean financial markets: South Korean shares trimmed early losses on Thursday as fresh reports raised hopes that Washington and Beijing would settle some economic disputes, though investors remained cautious ahead of high-level trade talks set to begin later in the day. The Korean won slid, while the benchmark bond yields strengthened.

** Investor sentiment was lifted by a Bloomberg report, which cited that the White House is looking at rolling out a previously agreed currency pact with China, raising hopes of a partial deal.

** Washington will soon issue licenses allowing some U.S. firms to supply non-sensitive goods to China’s Huawei Technologies , the New York Times reported on Wednesday.

** Top negotiators from the two countries were scheduled to meet in Washington on Thursday and Friday to end a bruising 15-month trade war.

** South Korea’s stock markets marked its worst session in more than a month after the South China Morning Post reported that the United States and China made no progress in deputy-level trade talks held on Monday and Tuesday in Washington, citing unnamed sources with knowledge of the meetings.

** However, CNBC reporter said the White House has denied the report about the Chinese negotiators’ early departure from Washington.

** The South Korean benchmark stock index KOSPI ended down 18.10 points, or 0.88%, at 2,028.15. Earlier in the day, the index lost as much as 1.7%, marking its worst intraday trading level since Sept. 6.

** Foreigners were net sellers of 164.7 billion won ($137.76 million) worth of shares on the main board.

** The won was quoted at 1,196.2 per dollar on the onshore settlement platform, 0.26% lower than its previous close at 1,193.1.

** In offshore trading, the won was quoted at 1,195.8 per U.S. dollar, up 0.1% from the previous session, while in non-deliverable forward trading its one-month contract was quoted at 1,194.4 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.20%, after U.S. stocks closed higher overnight. Japanese stocks rose 0.45%.

** The KOSPI dropped 0.63% so far this year, but gained 4.9% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 438.54 million shares of the total traded issues of 886, and the number of advancing shares was 266.

** The won lost 6.7% against the U.S dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds dipped 0.05 points to 110.90, while the 3-month Certificate of Deposit rate was quoted at 1.55%.

** The most liquid 3-year Korean treasury bond yield rose by 0.7 basis points to 1.274%, while the benchmark 10-year yield gained by 2.4 basis points to 1.457%.

$1 = 1,195.6000 won Reporting by Joori Roh, Editing by Sherry Jacob-Phillips

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