January 3, 2019 / 7:13 AM / 7 months ago

S.Korean stocks at 2-mth low on Apple outlook cut; won falls nearly 1 pct

* KOSPI index falls, foreigners buy

* Korean won drops against USD

* South Korea bond yields down

* For the midday report, please click

SEOUL, Jan 3 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s benchmark KOSPI stock index slumped to a two-month low on Thursday after Apple Inc cut its revenue forecast, adding worries over global economic slowdown. Both the Korean won and bond yields fell, with the local currency slipping nearly 1 percent.

** Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations.

** At 0630 GMT, the KOSPI closed down 16.30 points, or 0.81 percent at 1,993.70, hitting the lowest trading level since Oct. 30.

** The news on Apple’s forecast cut sent stocks of South Korean chip giants tumbling. Shares of Samsung Electronics and SK Hynix closed down 3.0 percent and 4.8 percent, respectively, on dim outlook for memory chip industry.

** Shares of South Korean gaming company Nexon’s affiliates Nexon GT Co Ltd and Nat Games Co Ltd surged nearly 30 percent after reports on the founder of the company set to sell a controlling stake worth around $9 billion in Nexon’s holding firm NXC Corp.

** The won was quoted at 1,127.7 per dollar on the onshore settlement platform, 0.78 percent weaker than its previous close at 1,119.0.

** In offshore trading, the won was quoted at 1,127.12 per U.S. dollar, down 0.71 percent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,110.15 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.64 percent, after U.S. stocks ended the previous session with gains. Japanese stocks were closed on Thursday.

** 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 424,198,000 shares and, of the total traded issues of 897, the number of advancing shares was 303.

** Foreigners were net buyers of 102,353 million won worth of shares.

** In money and debt markets, March futures on three-year treasury bonds rose 0.07 points to 109.36.

** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.93 percent, while the benchmark 3-year Korean treasury bond yielded 1.789 percent, lower than the previous day’s 1.80 percent. (Reporting by Joori Roh; Editing by Rashmi Aich)

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