August 17, 2018 / 7:03 AM / 4 months ago

S.Korean stocks end higher on China-U.S. trade talks; won gains

* KOSPI index rises, foreigners buy

* Korean won rises versus U.S. dollar

* South Korea bond yields down

* For the midday report, please click

SEOUL, Aug 17 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index ended higher on Friday after China and the United States agreed to hold their first trade talks since June next week and as extended gains in the Turkish lira ebbed worries about a potential Turkey crisis. The Korean won rose while bond yields dropped.

** Statistics Korea data out on Friday posted the weakest jobs growth in nearly nine years in July in the depths of the global financial crisis. While this adds pressure on South Korean President Moon Jae-in to do more to boost economic growth and abandon policies focused on raising wages and improving income distribution, the expectations on raising interest rates at the Bank of Korea meeting on August 31 dampened. ** At 0632 GMT, the KOSPI was up 6.25 points or 0.28 percent at 2,247.05. For the week, the benchmark index tumbled 1.6 percent, marking its biggest weekly loss since July 6.

** South Korea’s budget carrier Jin Air Co Ltd, an affiliate of Korean Air Lines Co Ltd, gained on South Korea’s transport ministry announcement to not revoke the aviation business licence of the company. Shares in Jin Air initially soared as much as 24 percent after news broke that its business licence was intact but later pared gains to close 6.2 percent higher. ** The won was quoted at 1,124.9 per dollar on the onshore settlement platform, 0.46 percent firmer than its previous close at 1,130.1. The currency gained 0.4 percent on a weekly basis, snapping the two consecutive sessions of weekly loss. ** In offshore trading, the won was quoted at 1,124.89 per U.S. dollar, up 0.12 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,108.25 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.39 percent, after U.S. stocks ended the previous session with mild gains. Japanese stocks rose 0.35 percent. ** The KOSPI is down around 9.2 percent so far this year, and slipped 1.09 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 231,926,000 shares and, of the total traded issues of 899, the number of advancing shares was 555. ** Foreigners were net buyers of 104,231 million won worth of shares. ** The U.S dollar has risen 5.48 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 1,140.4 on July 19, 2018. ** In money and debt markets, September futures on three-year treasury bonds rose 0.11 points to 108.5. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65 percent, while the benchmark 3-year Korean treasury bond yielded 2.008 percent, lower than the previous day’s 2.06 percent. (Reporting by Joori Roh, Editing by Sherry Jacob-Phillips)

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