June 19, 2019 / 2:43 AM / a month ago

S.Korea stocks jump on U.S.-China trade optimism

    * KOSPI index rallies, foreigners net buyers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, June 19 (Reuters) - Round-up of South Korean
financial markets:
** South Korea's KOSPI index         rose more than 1% on
Wednesday as investors cheered the news that Washington and
Beijing may resume talks at the G20 summit later this month
after the brief pause recently, while European Central Bank
chief's dovish stance also helped the market. The Korean won
strengthened, while the benchmark bond yield fell.
** As of 0234 GMT, the Seoul stock market's main KOSPI rose
21.51 points or 1.02% to 2,120.22, hovering around the highest
level since May 10. 
** U.S. President Donald Trump said he had spoken to Chinese
President Xi Jinping and that the two leaders' teams would
restart trade talks after a long lull in order to prepare for a
meeting at the G20 summit later this month. "Had a very good
telephone conversation with President Xi of China," Trump
** The European Central Bank will ease policy again if inflation
fails to accelerate, ECB President Mario Draghi said on Tuesday,
signalling one of the biggest policy reversals of his eight-year
tenure and provoking the ire of President Trump.             
** Those favourable factors overnight boosted local financial
markets, said Cho Byung-hyun, an analyst at Yuanta Securities
Korea. However, more concrete news about the G20 summit would be
needed for the markets to decide its direction, he added. 
** South Korean central bank's latest minutes also showed that
more board members would vote to cut the rate at next meeting.
Two of the Bank of Korea's seven board members saw the need for
a cut in the policy interest rate at its May 31 meeting,
although only one of them voted to do so.             
** South Korean chipmakers, Samsung Electronics             and
SK Hynix            , led gains on expectations that an upcoming
summit between the United States and China would ease trade
tensions between the world's top two economies.             
** Foreigners were net buyers of 128.1 billion won ($108.74
million) worth of shares on the main board. 
** The won was quoted at 1,177.7 per dollar on the onshore
settlement platform           , 0.69% higher than its previous
close at 1,185.8.
** In offshore trading, the won        was quoted at 1,178.0 per
U.S. dollar, down 0.4% from the previous day, while in
non-deliverable forward trading, its one-month contract
              was quoted at 1,176.3 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 1.43%, after U.S. stocks soared
           . Japanese stocks         rose 1.64%.
** The KOSPI has risen 3.81% so far this year, but lost 4.4% 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 316.29 million shares and, of the total traded
issues of 888, the number of advancing shares was 572.
** The won has lost 5.3% against the U.S dollar so far this
** In money and debt markets, September futures on three-year
treasury bonds         rose 0.08 points to 110.45, while the
3-month Certificate of Deposit rate was quoted at 1.80%.
** The most liquid 3-year Korean treasury bond yield fell by 1.0
basis points to 1.483%, while the benchmark 10-year yield fell
by 1.1 basis points to 1.603%.    

($1 = 1,178.0000 won)

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