June 20, 2019 / 2:44 AM / a month ago

S.Korea stocks steady on Fed's expected stance; won hits 6-week high

    * KOSPI index flat, foreigners net sellers
    * Korean won gains to 6-week high versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, June 20 (Reuters) - Round-up of South Korean
financial markets:
** South Korea's KOSPI index         traded flat early on
Thursday after the U.S. Federal Reserve indicated possible
interest rate cuts later this year, but the widely-expected
stance failed to provide further momentum. The won strengthened,
while the benchmark bond yield fell.
** The Fed said it was ready to battle growing global and
domestic economic risks with interest rate cuts beginning as
early as next month, as it took stock of rising trade tensions
and growing concerns about weak inflation.             
** Ahead of the Fed meeting, expectations of rate cuts this year
had already boosted markets, said Kim Ji-hyung, an analyst from
Hanyang Securities. Chinese President Xi Jinping's visit to
North Korea has limited impact on the broader market, Kim added.
** As of 0237 GMT, the Seoul stock market's main KOSPI rose 0.47
points, or 0.02%, to 2,125.25 points. 
** The head of South Korea's central bank said global economic
conditions have changed very drastically since its last meeting
in May and that the outcome of the Fed's policy meeting was
** Chinese President Xi Jinping departed for Pyongyang on
Thursday on a state visit to North Korea, state media said,
accompanied by a clutch of senior officials, including the head
of the state economic planner.             

** Shares of LG Display             gained as much as 6.4% after
local media, citing market research data, reported that the
company took the first place by shipment in global automotive
display market in the first quarter.             
** Foreigners were net sellers of 47.6 billion won ($40.69
million) worth of shares on the main board. 
** The won was quoted at 1,169.6 per dollar on the onshore
settlement platform           , 0.56% higher than its previous
close at 1,176.1. The currency hit its highest intraday level
since May 8. 
** In offshore trading, the won        was quoted at 1,169.8 per
U.S. dollar, up 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,168.5 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.52%, after U.S. stocks edged higher.
Japanese stocks         rose 0.55%.                 
** The KOSPI has risen 4.17% so far this year, but lost 2.4% 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.
** The trading volume during the session on the KOSPI index
        was 553.97 million shares and, of the total traded
issues of 890, the number of advancing shares was 434.
** The won has lost 4.6% against the U.S dollar so far this
** In money and debt markets, September futures on three-year
treasury bonds         rose 0.17 points to 110.62.
** The most liquid 3-year Korean treasury bond yield fell by 6.2
basis points to 1.424%, while the benchmark 10-year yield
declined by 5.2 basis points to 1.550%.

($1 = 1,169.9000 won)

 (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)
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