August 1, 2019 / 2:07 AM / 22 days ago

S.Korea stocks edge higher; Japan export curbs in focus

    * KOSPI index rises slightly, foreigners net sellers
    * Korean won drops versus U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Aug 1 (Reuters) - Round-up of South Korean financial
markets:

** South Korean shares rose slightly on Thursday, after opening
lower as U.S. Federal Reserve Chairman Jerome Powell ruled out a
lengthy easing cycle, while investors awaited further
developments in Japan's export curbs. The won weakened while the
benchmark bond yield rose.
    
** As of 0205 GMT, the Seoul stock market's main KOSPI index
        rose 5.75 points, or 0.28%, to 2,030.30. 
    
** Powell, speaking in a news conference after the release of
the central bank's statement, characterised Wednesday's rate cut
as "a mid-cycle adjustment to policy", a sign to markets that
sharp further cuts were not imminent. 
    
** Japan is preparing for cabinet approval as early as Friday to
remove South Korea from the so-called white list status with
minimum trade restrictions.             
    
** A trade conflict between Seoul and Tokyo turned into a
political issue and it's likely to be prolonged, SK Securities
analyst Han Dae-hoon said in a report. If Japan removes South
Korea from its trade white list on Friday, investor sentiment
would come under pressure, he added. 
    
** South Korea's exports tumbled for an eighth straight month in
July, with persistently weak global demand and an escalating
dispute with Japan painting an increasingly gloomy picture for
Asia's fourth-largest economy.             
    
** Shares of SM Entertainment             plunged after the
country's biggest talent agency disappointed investors in its
response to a shareholder's open letter.             
        
** Foreigners were net sellers of 26.3 billion won ($22.17
million) worth of shares on the main board. 
    
** The won was quoted at 1,188.7 per dollar on the onshore
settlement platform           , 0.47% lower than its previous
close at 1,183.1.
 
** In offshore trading, the won        was quoted at 1,186.5 per
U.S. dollar, up 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,185.3 per dollar.
    
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.34%, after U.S. stocks dropped
           . Japanese stocks         rose 0.13%.
    
** The KOSPI has fallen 0.46% so far this year and lost 4.7% 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 199.58 million shares and, of the total traded
issues of 888, the number of advancing shares was 450.
    
** The won has lost 6.1% against the U.S dollar so far this
year.
    
** In money and debt markets, September futures on three-year
treasury bonds         fell 0.07 points to 110.83, while the
3-month Certificate of Deposit rate was quoted at 1.50%.
    
** The most liquid 3-year Korean treasury bond yield rose by 1.2
basis points to 1.306%, while the benchmark 10-year yield rose
by 0.8 basis point to 1.399%.

($1 = 1,186.2000 won)    

 (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)
  
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