November 12, 2019 / 7:08 AM / 3 months ago

S.Korean stocks jump on chipmakers; investors eye Trump speech

* KOSPI jumps, foreigners net sellers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Nov 12 (Reuters) - Round-up of South Korean financial markets:

** Chipmakers pushed South Korean shares higher on Tuesday, as investors waited for a speech by U.S. President Donald Trump later in the day that could offer clues on trade talks with China. The Korean won and the benchmark bond yield rose as well.

** The electric sub-index advanced 1.8%, buoyed by Samsung Electronics and SK Hynix which closed up nearly 2% and 2.3%, respectively.

** After a recent correction, chipmakers are rising again on expectations of higher demand, said Cho Byung-hyun, an analyst at Yuanta Securities Korea.

** The Seoul stock market’s main KOSPI index ended up 16.83 points, or 0.79%, at 2,140.92.

** President Trump is scheduled to speak at the Economic Club of New York later in the day, with investors anxious for any positive news about his administration’s long-running trade war with China.

** A consortium led by South Korean construction firm Hyundai Development Co has been picked as the preferred bidder for a controlling stake in Asiana Airlines. The news sent Asiana Airlines’ shares 13% higher.

** Foreigners were net sellers of 66.5 billion won ($57.27 million) worth of shares on the main board.

** The won was quoted at 1,160.8 per dollar on the onshore settlement platform, 0.52% higher than its previous close at 1,166.8.

** In offshore trading, the won was quoted at 1,160.8 per U.S. dollar, up 0.3% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,160.2 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.49%, after U.S. stocks closed down overnight. Japanese stocks rose 0.81%.

** The KOSPI has risen 4.89% so far this year, and gained 2.4% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 601.67 million shares and, of the total traded issues of 904, the number of advancing shares was 426.

** The won has lost 3.9% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds fell 0.15 points to 109.86, while the 3-month Certificate of Deposit rate was quoted at 1.53% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield rose by 7.2 basis points to 1.568% in late afternoon trade, while the benchmark 10-year yield rose by 5.7 basis points to 1.842%. ($1 = 1,161.2300 won) (Reporting by Hayoung Choi; Editing by Aditya Soni)

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