October 24, 2019 / 7:09 AM / 4 months ago

S.Korean stocks edge higher as SK Hynix earnings boost sentiment

* KOSPI ends higher, foreigners net buyers

* Korean won weakens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Oct 24 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares erased early losses to close higher on Thursday, as SK Hynix’s upbeat third-quarter earnings raised hopes of a recovery in the chip maker industry. The won and the benchmark bond yield fell.

** SK Hynix, the world’s second-largest memory chipmaker, said 5G-enabled smartphones should help lift the global memory market out of the doldrums next year, as its third-quarter profit beat market expectations. Shares of SK Hynix closed up 3%.

** The Seoul stock market’s main KOSPI ended up 5.04 points, or 0.24%, at 2,085.66.

** Hopes of a recovery in the performance of chipmakers were the major momentum behind the KOSPI’s rise, said Lee Won, an analyst with Bookook Securities.

** Pharmaceutical stocks, which dragged down the broader market in early trade, recovered from losses, helping the benchmark stock index close in positive territory. The medical sub-index closed up 0.3%. ** Foreigners were net buyers of 170.8 billion won ($145.62 million) worth of shares on the main board.

** The won was quoted at 1,172.9 per dollar on the onshore settlement platform, 0.04% lower than its previous close at 1,172.4.

** In offshore trading, the won was quoted at 1,172.7 per U.S. dollar, down 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,171.6 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.32%. Japanese stocks rose 0.55%.

** The KOSPI has risen 2.19% so far this year, and gained 3.8% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 352.69 million shares and, of the total traded issues of 899, the number of advancing shares was 394.

** The won has lost 4.9% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds fell 0.04 point to 110.38, while the 3-month Certificate of Deposit rate was quoted at 1.37%.

** The most liquid 3-year Korean treasury bond yield rose by 1.7 basis points to 1.405%, while the benchmark 10-year yield fell by 1.3 basis points to 1.643%. ($1 = 1,172.9300 won) (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)

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