October 10, 2018 / 7:00 AM / 8 days ago

S.Korean stocks hit over 17-mth closing low on growth worries; won down

* KOSPI index falls, foreigners sell

* Korean won falls versus U.S. dollar

* South Korea bond yields down

* For the midday report, please click

SEOUL, Oct 10 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s KOSPI stock index closed down on Wednesday, hitting its lowest close since May 2, 2017 after the International Monetary Fund (IMF) cut its growth forecast for the country. The Korean won erased gains and closed lower, a day after U.S. President Donald Trump criticised the Federal Reserve on raising rates too fast. South Korean bond yields also fell.

** Trump on Tuesday again criticized the Federal Reserve, telling reporters the central bank is going too fast in raising rates when inflation is minimal and government data points to a strong economy. Trump told the reporters that he doesn’t “think it’s necessary to go as fast.” ** At 06:32 GMT, the KOSPI ended down 25.21 points or 1.12 percent at 2,228.62, marking its seventh straight session of fall, the longest since Sept. 2017.

** South Korean shares exposed to North Korea plunged on growing uncertainties after Trump said his second summit with North Korean leader Kim Jong Un would be held after U.S. congressional elections on Nov. 6, which is later than expected by some analysts. Hyundai Elevator, down 17.9 percent and Hyundai Rotem, down 14.9 percent, led the losses.

** The won was quoted at 1,133.8 per dollar on the onshore settlement platform, 0.1 percent weaker than its previous close of 1,132.7. The currency recorded its sixth consecutive session of loss. ** In offshore trading, the won was quoted at 1,133.51 per U.S. dollar, down 0.21 percent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,116.5 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.24 percent after U.S. stocks ended the previous session with mild losses. Japanese stocks rose 0.16 percent. ** The KOSPI is down around 8.7 percent so far this year, and down by 0.71 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 348,671,000 shares, and of the total traded issues of 897, the number of advancing shares was 107. ** Foreigners were net sellers of 229,492 million won worth of shares. ** The U.S dollar has risen 6.3 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, December futures on three-year treasury bonds rose 0.09 points to 108.21. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65 percent while the benchmark 3-year Korean treasury bond yielded 2.061 percent, lower than the previous day’s 2.09 percent. (Reporting by Joori Roh; Editing by Vyas Mohan)

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