January 8, 2020 / 7:04 AM / a month ago

S.Korean shares end at near 1-month low on escalation in Middle East crisis

* KOSPI sheds 1.1%, foreigners net buyers

* Korean won drops vs dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Jan 8 (Reuters) - Round-up of South Korean financial markets:

** South Korean stocks stumbled more than 1% on Wednesday to end at a near one-month low, as heightened tensions between the United States and Iran dampened risk appetite of investors. The Korean won dropped, while the benchmark bond yield rose.

** The Seoul stock market’s main KOSPI ended down 24.23 points, or 1.11%, at 2,151.31, registering its lowest close since Dec. 12.

** Iran launched missile attacks on U.S.-led forces in Iraq in the early hours of Wednesday in retaliation to a U.S. drone strike killing an Iranian commander, which has raised fears of a wider war in the Middle East.

** Iran is not seeking war but it will deliver a crushing response to any aggression, the government spokesman said a few hours after Tehran hit U.S. targets in Iraq in retaliation to the killing of Quds Force commander Qassem Soleimani.

** After Iran said it intended to avoid war, sentiment slightly eased, helping the index trim some of its losses, said Park Sang-hyun, an analyst at HI Investment & Securities. A rally in chipmakers also limited the broader market’s further losses, he added.

** Shares of Samsung Electronics and SK Hynix surged, bucking the wider markets, after Samsung Elec said its quarterly operating profit likely fell at a milder pace than analysts forecast.

** Foreigners were net buyers of 259.7 billion won ($221.82 million) worth of shares on the main board.

** The won was quoted at 1,170.8 per dollar on the onshore settlement platform, 0.38% lower than its previous close at 1,166.4. By falling as low as 1179.3 per dollar in early trade, the currency hit the lowest since Dec. 12.

** In offshore trading, the won was quoted at 1,170.5 per U.S. dollar, down 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,170.0 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.75%, after U.S. stocks sagged overnight. Japanese stocks fell 1.57%.

** The KOSPI has fallen 2.11% so far this year, but gained 3.8% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 899.62 million shares and, of the total traded issues of 909, the number of advancing shares was 47.

** The won has lost 1.2% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds fell 0.10 points to 110.52, while the 3-month Certificate of Deposit rate was quoted at 1.46% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield rose by 3.3 basis points to 1.362% in late afternoon trade, while the benchmark 10-year yield rose by 1.2 basis points to 1.628%.

$1 = 1,170.7900 won Reporting by Hayoung Choi; Editing by Rashmi Aich

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below