September 25, 2019 / 7:22 AM / 21 days ago

S.Korean stocks end lower on U.S. political risk, profit booking

* KOSPI drops more than 1%, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Sept 25 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell over 1% on Wednesday, as investors worried about political risks after the impeachment inquiry into U.S. President Donald Trump, while profit booking also dragged the broader market. The won and the benchmark bond yield fell. ** Democrats in the U.S. House of Representatives on Tuesday launched a formal impeachment inquiry into U.S. President Donald Trump, accusing him of seeking foreign help to smear Democratic rival Joe Biden ahead of next year’s election.

** The impact of Trump impeachment issue remains to be seen, said Park Sang-hyun, an analyst at HI Investment & Securities. As uncertainties grew, there were some investors taking profits after the KOSPI’s recent rise, he added. ** Trump’s stinging rebuke to China’s trade practices with remarks that he would not accept a “bad deal” in U.S.-China trade negotiations also hit investor sentiment.

** The KOSPI closed down 27.65 points, or 1.32%, at 2,073.39, retreating from a two-month closing high marked in the previous session.

** Shares of LG Chem lost 6.7% to their lowest since Aug. 6 after analysts cut their target prices over business worries.

** Foreigners were net sellers of 365.8 billion won ($305.18 million) worth of shares on the main board.

** The won was quoted at 1,198.8 per dollar on the onshore settlement platform, 0.26% lower than its previous close at 1,195.7.

** In offshore trading, the won was quoted at 1,198.7 per U.S. dollar, down 0.3% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,197.7 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.91%, after U.S. stocks dropped . Japanese stocks fell 0.36%.

** The KOSPI has risen 1.58% so far this year, and gained 9.4% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 640.59 million shares and, of the total traded issues of 892, the number of advancing shares was 108.

** The won has lost 6.9% against the U.S dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds rose 0.06 points to 110.80, while the 3-month Certificate of Deposit rate was quoted at 1.55%.

** The most liquid 3-year Korean treasury bond yield fell by 2.3 basis points to 1.303%, while the benchmark 10-year yield fell by 3.6 basis points to 1.422%. ($1 = 1,198.6200 won) (Reporting by Hayoung Choi; editing by Uttaresh.V)

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