June 13, 2019 / 2:31 AM / 8 days ago

S.Korea stocks drop as grim industry outlook hits chip giants

    * KOSPI index falls over 1%, foreigners net sellers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, June 13 (Reuters) - Round-up of South Korean
financial markets:
    
** South Korea's KOSPI stock index         fell early on
Thursday as a dimmer outlook of memory chip industry pulled down
shares of chip giants — the heavyweights on the major index. The
Korean won and the benchmark bond yield fell.
 
** As of 0225 GMT, the Seoul stock market's main KOSPI fell
22.80 points or 1.08% to 2,085.95.
    
** South Korean chipmakers are falling (after being) affected by
a report published by Evercore ISI, which pushed U.S. chip
equipment maker Lam Research          down more than 5%, said
Seo Sang-young, an analyst at Kiwoom Securities.             
            
    
** Evercore analyst C.J. Muse feared an estimate reset in the H2
2019 time frame, combined with a memory recovery now likely
pushed to H2 2020 (from H1 2020), will be headwinds that would
make it difficult for shares to move higher over the near term.
            
    
** Shares of Samsung Electronics             and SK Hynix
           , which have a combined 28% weight on the KOSPI
index, lost 2.1% and 3.2%, respectively, pulling down broader
KOSPI index, Seo added. 
     
** Foreigners were net sellers of 149.4 billion won ($126.02
million) worth of shares on the main board. 
    
** The won was quoted at 1,185.3 per dollar on the onshore
settlement platform           , 0.23% lower than its previous
close at 1,182.6.
     
** In offshore trading, the won        was quoted at 1,184.7 per
U.S. dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,183.8 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.32%, after U.S. stocks slipped
           . Japanese stocks         fell 0.31%.
    
** The KOSPI has risen 2.46% so far this year, but lost 3.2% in
the previous 30 trading sessions.
    
** The current price-to-earnings ratio is 12.10, the dividend
yield is 1.28% and the market capitalisation is 1,242.04
trillion won.
    
** Trading volume during the session on the KOSPI index        
was 193.39 million shares and, of the total traded issues of
886, the number of advancing shares was 383.
    
** The won has lost 5.9% against the U.S dollar so far this
year.
    
** In money and debt markets, June futures on three-year
treasury bonds         rose 0.07 points to 110.32.
    
** The most liquid 3-year Korean treasury bond yield fell by 1.0
basis points to 1.456%, while the benchmark 10-year yield fell
by 1.0 basis points to 1.588%.
    
($1 = 1,185.5000 won)

 (Reporting by Hayoung Choi; editing by Uttaresh.V)
  
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