November 25, 2019 / 2:46 AM / 16 days ago

S.Korean stocks jump on renewed hopes for U.S.-China trade deal

    * KOSPI jumps 1.2%
    * KRW rises against USD
    * South Korea benchmark bond yield rises

    SEOUL, Nov 25 (Reuters) - Round-up of South Korean financial
markets:
    ** South Korean shares jumped more than 1% on Monday,
recovering some of the last week's losses, as upbeat remarks
from both the United States and China lifted hopes for a trade
deal. The Korean won and the benchmark bond yield both rose.
    
    ** United States said on Saturday that an initial trade
agreement with China is still possible by the end of the year,
but warned Washington would not turn a blind eye to what happens
in Hong Kong.             
    
    ** China has invited top U.S. trade negotiators for a new
round of face-to-face talks in Beijing, the Wall Street Journal
said, citing unnamed sources. It added that Beijing hoped the
talks could take place before next Thursday's U.S. Thanksgiving
holiday.             
    
    ** However, a potential standoff between the world's two
largest economies on the Hong Kong issue threatened to
complicate trade talks between the two countries.  
        
    ** As of 0209 GMT, South Korea's benchmark KOSPI        
jumped 25.28 points, or 1.20%, to 2,127.24.
    
    ** Foreigners were poised to be net sellers for a 13th 
straight session, having sold 53.2 billion won ($45.11 million)
worth of shares on the main board.
    
    ** Despite continued selloff of foreigners ahead of the
rebalancing of MSCI index, the report on China inviting the U.S.
negotiators for trade talks before the Thanksgiving holiday
cheered the market, said Na Jeong-hwan, an analyst at DS
Investment & Securities.
    
    ** Shares of Samsung Heavy Industries             rose 3.8%
after the company said it won 1.8 trillion won ($1.53 billion)
worth order to a build liquefied natural gas (LNG) carrier,
which is expected to be delivered by September 2022.
            
    
    ** South Korean budget airlines Tway Holdings            
and T'way Air             gained 6.5% and 3.7%, respectively, on
hopes of improving ties between Seoul and Tokyo after the two
countries agreed to have formal talks next month.             
    
    ** The won was quoted at 1,175.5 per dollar on the onshore
settlement platform           , 0.29% higher than its previous
close at 1,178.9.
    
    ** In offshore trading, the won        was quoted at 1,176.0
per U.S. dollar, up 0.3% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,174.4 per dollar.
    
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was up 0.71%, after U.S. stocks ended
higher on trade deal hopes and as U.S. manufacturing data beat
forecast            . Japanese stocks         rose 0.89%.
    
    ** The KOSPI has risen 4.22% so far this year, but gained
2.8% in the previous 30 trading sessions.
    
    ** The trading volume during the session in the KOSPI index
        was 205.53 million shares and, of the total traded
issues of 904, the number of advancing shares was 653.
    
    ** The won has lost 5.1% against the dollar so far this
year.
    
    ** In money and debt markets, December futures on three-year
treasury bonds         fell 0.02 points to 110.25.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
0.3 basis points to 1.459%, while the benchmark 10-year yield
rose by 1.9 basis points to 1.703%.
    
    
($1 = 1,179.3300 won)

 (Reporting by Joori Roh; Editing by Aditya Soni)
  
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