January 16, 2020 / 6:59 AM / a month ago

S.Korean stocks climb amid cautious optimism after Sino-U.S. trade deal

* KOSPI jumps, foreigners net sellers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Jan 16 (Reuters) - Round-up of South Korean financial markets: South Korean stocks ended firmer on Thursday, led by automotive and pharmaceutical sectors, though investors remained wary of unresolved trade issues after an initial pact was signed by Washington and Beijing. The Korean won dropped, while the benchmark bond yield rose.

** The United States and China signed the interim trade deal that will roll back some tariffs and boost Chinese purchases of U.S. goods and services. The deal will, however, leave in place 25% tariffs on a $250 billion array of Chinese industrial goods and components used by U.S. manufacturers.

** The pact does not address structural economic issues that led to the trade conflict. Officials say these will be dealt in Phase 2 negotiations, though the differences there are so fundamental that many investors doubt whether any deal will come through.

** The Seoul stock market’s main KOSPI ended up 17.07 points, or 0.77%, at 2,248.05.

** Shares of Hyundai Motor closed up 3% following positive reviews on the first sport-utility vehicle, under its Genesis premium brand, that was unveiled on Wednesday.

** The KOSPI’s transportation sub-index tacked on 1.1%, buoyed by Hyundai Motor, its affiliates and suppliers.

** South Korean drugmaker Celltrion and its affiliates surged after group chief hinted at potential merger. Celltrion gained 2.3%, while Celltrion Pharm and Celltrion HealthCare firmed 19.3% and 6%, respectively.

** Foreigners were net sellers of 36.8 billion won ($31.70 million) worth of shares on the main board.

** The won was quoted at 1,161.1 per dollar on the onshore settlement platform, 0.35% lower than its previous close at 1,157.0.

** In offshore trading, the won was quoted at 1,161.0 per U.S. dollar, down 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,159.6 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.12%, after U.S. stocks ended higher overnight. Japanese stocks rose 0.07%.

** The KOSPI climbed 2.29% so far this year, and gained 6.8% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 796.46 million shares and, of the total traded issues of 907, the number of advancing shares was 373.

** The won lost 0.4% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds fell 0.14 points to 110.29, 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 2.4 basis points to 1.415% in late afternoon trade, while the benchmark 10-year yield climbed 0.5 basis points to 1.696%.

($1 = 1,161.0400 won)

Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips

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