S.Korean stocks plunge nearly 1.5 pct amid intensifying trade frictions
* KOSPI index drops, foreigners net sellers
* Korean won weakens versus U.S. dollar
* South Korea benchmark bond yield falls
* For the midday report, please click
SEOUL, April 18 (Reuters) - Round-up of South Korean
** South Korean shares slumped 1.4 percent on Thursday as
foreign investors and local institutions trimmed their equity
exposure amid intensifying trade frictions. The won and the
benchmark bond yield fell after the central bank cut its 2019
growth forecast further to a seven-year low.
** The main KOSPI stock index closed down 32.12 points,
or 1.43 percent, at 2,213.77, declining for a second straight
** Investors worried that tensions between the United States and
China could escalate after Federal Communications Commission
Chairman Ajit Pai opposed China Mobile Ltd's bid to
provide U.S. telecommunications services, citing security risks.
** Planes, tractors, food and handbags featured on a list of
U.S. imports worth $20 billion that the European Union said on
Wednesday it could hit with tariffs in a transatlantic aircraft
** South Korean shares extended losses as foreign investors who
have been key to recent gains turned net sellers, said Kim
Hyoung-ryoul, chief of research centre at Kyobo Securities.
** Foreigners were net sellers of 149.3 billion won ($131.37
million) worth of shares on the main board, while local
institutions offloaded a net 151.8 billion won worth of stocks.
** South Korea's central bank cut its 2019 growth forecast
further to a seven-year low while keeping its policy rate
unchanged, bolstering chances it may soon cut rates amid sagging
exports and muted inflation.
** The won was quoted at 1,136.9 per dollar on the onshore
settlement platform, 0.18 percent lower than its
previous close at 1,134.8.
** In offshore trading, the won was quoted at 1,136.7 per
U.S. dollar, down 0.5 percent from the previous day, while in
one-year non-deliverable forward trading its one-month contract
was quoted at 1,134.9 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
was down 0.37 percent, after U.S. stocks closed
lower in the previous session. Japanese stocks
fell 0.84 percent.
** The KOSPI has risen 8.46 percent so far this year, and rose
3.2 percent in the previous 30 trading sessions.
** The current price-to-earnings ratio is 12.10, the dividend
yield is 1.28 percent and the market capitalisation is 1,242.04
** The trading volume during the session on the KOSPI index
was 507.55 million shares and, of the total traded
issues of 892, the number of advancing shares was 172.
** The won has lost 1.9 percent against the U.S. dollar this
** In money and debt markets, June futures on three-year
treasury bonds rose 0.13 points to 109.49, while the
3-month Certificate of Deposit rate was quoted at 1.86 percent.
** The most liquid 3-year Korean treasury bond yield fell by 4.3
basis points to 1.736 percent, while the benchmark 10-year yield
declined by 6.5 basis points to 1.883 percent.
($1 = 1,136.4600 won)
(Reporting by Hayoung Choi, Yuna Park; Editing by Subhranshu
© 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.