June 3, 2019 / 7:58 AM / 23 days ago

S.Korean stocks jump on bargain-hunting after MSCI EM rebalance

* KOSPI index gains 1.3%, foreigners net buyers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, June 3 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose more than 1% on Monday as the won’s bounce-back eased concerns about possible capital flight, and as investors hunted for bargains on perception that blue chips have been oversold in the wake of weightage changes in MSCI indexes.

** The Seoul stock market’s main KOSPI index ended up 26.11 points, or 1.28%, at 2,067.85 points.

** Foreign capital inflow was prompted by the end of MSCI EM index rebalancing, said Ha In-hwan, an analyst at Meritz Securities. Domestic stocks have been undervalued and the recent fall of the won against the dollar made investors see the major index was relatively cheaper, he added.

** Foreigners were net buyers of 291.5 billion won ($246.51 million) worth of shares on the main board.

** Shares of Samsung Engineering lost nearly 10% after Saudi Al Toukhi and VISION asked a court to arbitrate in a dispute over the cancellation of Saudi’s Yanbu project.

** The won was quoted at 1,182.1 per dollar on the onshore settlement platform, 0.74% higher than its previous close at 1,190.9, after the currency rose as high as 1,178.6 per dollar.

** In offshore trading, the won was quoted at 1,182.1 per U.S. dollar, up 0.5% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,181.0 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.35%, after U.S. stocks stumbled . Japanese stocks fell 0.92%.

** The KOSPI has risen 1.31% so far this year, but has lost 9.1% 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 on the KOSPI index was 381.01 million shares and, of the total traded issues of 894, the number of advancing shares was 401.

** The won has lost 5.6% against the U.S dollar so far this year.

** In money and debt markets, June futures on three-year treasury bonds fell 0.02 points to 110.01, while the 3-month Certificate of Deposit rate was quoted at 1.83%.

** The most liquid 3-year Korean treasury bond yield fell by 0.6 basis points to 1.581%, while the benchmark 10-year yield rose by 1.3 basis points to 1.695%. ($1 = 1,182.5000 won) (Reporting by Hayoung Choi; Editing by Subhranshu Sahu)

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