October 29, 2018 / 7:26 AM / 10 months ago

S.Korean stocks slump to near 23-month low, bond yields down

* KOSPI index falls for 5th straight session

* Foreign, local investors continue to sell

* Korean won steady versus U.S. dollar

* For the midday report, please click

SEOUL, Oct 29 (Reuters) - Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index fell 1.5 percent on Monday, extending its decline into a fifth session and hitting its lowest in almost 23 months, on continued selling by foreign and local investors. Bond yields fell after the central bank chief’s comments on monetary policy, while the won was steady against the dollar.

** The KOSPI closed down 31.10 points, or 1.53 percent, at 1,996.05. ** The main index may fall to 1,900 level within November, said Noh Dong-kil, an economist with Shinhan Investment.

** The Financial Services Commission (FSC) said it will quicken the implementation of funds worth of 300 billion won ($262.93 million) with the goal of capital market stabilisation. The fund will start investment in the junior KOSDAQ stock market from early November, said FSC Vice-Chairman Kim Yong-beom.

** The measure, however, failed to boost investor sentiment. The KOSDAQ stock index finished 5 percent lower, hitting the lowest since August 2017.

** Shares of Hyundai Wia Corp, an affiliate of Hyundai Motor, fell 11.1 percent after the auto parts maker said third-quarter operating profit slumped 36.2 percent from a year earlier.

** Samsung Engineering jumped 6.2 percent after the company posted a huge gain in its third-quarter operating profit.

** Bank of Korea chief Lee Ju-yeol said the rate decision should consider downside pressures on the economy, noting that “rate hike is not a done deal.” After the remark, Seoul’s three-year treasury bond futures rose as much as 0.27 points.

** South Korean exports are likely to post double-digit growth in October, mainly due to more working days, but the underlying trend is weakening as Sino-U.S. trade war intensifies, a Reuters poll found.

** The won was quoted at 1,141.4 per dollar on the onshore settlement platform, 0.04 percent firmer than its previous close at 1,141.9. ** In offshore trading, the won was quoted at 1,141.01 per U.S. dollar, down 0.15 percent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,122.35 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.02 percent, after U.S. stocks ended the previous session with mild losses. Japanese stocks weakened 0.16 percent. ** The KOSPI is down around 17.8 percent so far this year, and down by 11.15 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 416,016,000 shares and, of the total traded issues of 898, the number of advancing shares was 67. ** Foreigners were net sellers of 159,519 million won worth of shares. ** The U.S dollar has risen 7 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 1,146.26 on Oct. 11, 2018. ** In money and debt markets, December futures on three-year treasury bonds rose 0.22 points to 108.88. ** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.7 percent, while the benchmark 3-year Korean treasury bond yielded 1.905 percent, lower than the previous day’s 1.96 percent. ($1 = 1,141.0000 won) (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)

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