S.Korea stocks fall as Fed minutes cast doubt on aggressive rate cuts

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

Seoul, Aug 22 (Reuters) - Round-up of South Korean financial
markets:

** South Korean shares fell on Thursday as minutes of the
Federal Reserve's July meeting cast doubt on how aggressive U.S.
rate cuts will be. The won weakened and the benchmark bond yield
fell.
** The Seoul stock market's main KOSPI fell 5.48
points or 0.28% to 1,959.17.

** Foreigners were net sellers of 32.1 billion won worth of
shares on the main board.

** Federal Reserve policymakers were deeply divided over
whether to cut interest rates last month but were united in
wanting to signal they were not on a preset path to more cuts, a
message not likely to sit well with U.S. President Donald Trump.


** South Korean stocks partially recovered from the loss in
late July and early August, but the sentiment is still week and
foreign net selling is taking place mainly in cyclical sectors,
says Kang Jae-hyun, analyst at Hyundai Motor Securities

** The won was quoted at 1,203.4 per dollar on the onshore
settlement platform , 0.07% lower than its previous
close at 1,202.5.

** In offshore trading, the won was quoted at 1,202.3
per U.S. dollar, down 0.1% from the previous day, while in
non-deliverable forward trading, its one-month contract
was quoted at 1,201.4 per dollar.

** MSCI's broadest index of Asia-Pacific shares outside
Japan was unchanged, while U.S. stocks rose
. Japanese stocks were up 0.12%.

** The KOSPI has fallen 4.01% so far this year, and lost
4.3% 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 was 218.05 million
shares and, of the total traded issues of 889, the number of
advancing shares was 308.

** The won has lost 7.3% against the U.S dollar so far this
year.

** In money and debt markets, September futures on
three-year treasury bonds rose 0.08 points to 111.26.

** The most liquid 3-year Korean treasury bond yield fell by
1.7 basis points to 1.137%, while the benchmark 10-year yield
fell by 3.3 basis points to 1.244%.

(Reporting by Yuna Park; editing by Uttaresh.V)


2019-08-22 05:05:08

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.