September 4, 2019 / 7:24 AM / 3 months ago

S.Korean stocks jump as investors cheer upbeat China services sector survey

* KOSPI index jumps 1.2%, foreigners net sellers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Sept 4 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose over 1% on Wednesday after a private survey showed an upbeat China service sector in August, easing worries about the Sino-U.S. trade war. The won and the benchmark bond yield rose.

** Activity in China’s services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year, a private survey showed.

** Meanwhile, Hong Kong leader Carrie Lam is expected to announce later on Wednesday the formal withdrawal of a proposed extradition bill that sparked three months of protests in the Chinese-ruled city, the South China Morning Post reported, citing unnamed sources.

** In terms of relieving uncertainties, the media reports provided positive impact to the domestic market, said Park Sang-hyun, an analyst at HI Investment & Securities.

** The Seoul stock market’s main KOSPI ended up 22.84 points, or 1.16%, at 1,988.53.

** Hong Kong’s Hang Seng index soared more than 3%.

** Foreigners were net sellers of 352.7 billion won ($290.85 million) worth of shares on the main board, the most since Aug. 6.

** The won was quoted at 1,208.2 per dollar on the onshore settlement platform, 0.61% higher than its previous close at 1,215.6.

** In offshore trading, the won was quoted at 1,207.8 per U.S. dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,206.7 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.33%, after U.S. stocks dropped . Japanese stocks rose 0.12%.

** The KOSPI has fallen 2.57% so far this year, and lost 6.1% 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.

** The trading volume during the session in the KOSPI index was 342.71 million shares and, of the total traded issues of 890, the number of advancing shares was 532.

** The won has lost 7.7% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds fell 0.09 points to 110.90, while the 3-month Certificate of Deposit rate was quoted at 1.49%.

** The most liquid 3-year Korean treasury bond yield rose by 2.0 basis points to 1.248%, while the benchmark 10-year yield rose by 1.4 basis points to 1.347%. ($1 = 1,212.6600 won) (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)

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