January 11, 2019 / 7:11 AM / 5 months ago

S.Korean stocks near 1-month high on trade hopes, dovish Fed

* KOSPI index highest since Dec 19, foreigners buy

* Korean won inches up against USD

* South Korea bond yields up

* For the midday report, please click

SEOUL, Jan 11 (Reuters) - Round-up of South Korean financial markets:

** South Korea’s KOSPI stock index rose on Friday as U.S. Federal Reserve Chairman Jerome Powell’s dovish comments cheered investors amid news trade talks between Washington and Beijing were moving to higher levels. The Korean won rose while bonds fell.

** Powell on Thursday reiterated that the U.S. central bank could be patient in approving any further rate increases as officials gauge whether the U.S. economy will slow this year, as some in financial markets worry, or continue motoring ahead as the Fed itself expects.

** U.S. officials expect China’s top trade negotiator may visit Washington this month, signaling that higher-level discussions will likely follow this week’s talks with mid-level officials in Beijing as the world’s two largest economies try to hammer out a deal to end a tit-for-tat tariff war.

** The KOSPI closed up 12.29 points or 0.60 percent at 2,075.57 after hitting its highest level since Dec. 19. For the week, the benchmark index jumped 3.2 percent, snapping five consecutive weekly losses.

** Shares of Dexter Studios Co Ltd rose nearly 30 percent after local media reported CJ ENM Co Ltd plans to buy Dexter Studios. CJ ENM said in a regulatory filing that it is not pursuing acquisition of Dexter Studios, but considering financial investment and other options to strengthen contents production capabilities.

** The won was quoted at 1,116.4 per dollar on the onshore settlement platform, 0.17 percent firmer than its previous close at 1,118.3. The currency rose 0.7 percent on week, its biggest weekly gain since Dec. 21.

** In offshore trading, the won was quoted at 1,116.71 per U.S. dollar, up 0.01 percent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,100.15 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.26 percent, after U.S. stocks ended the previous session with gains. Japanese stocks rose 0.97 percent.

** The KOSPI is up around 1.1 percent so far this year, and up by 0.95 percent in the previous 30 days.

** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 percent and the market capitalisation is 1,242.04 trillion won.

** The trading volume during the session on the KOSPI index was 372,532,000 shares. Of the total traded issues of 898, the number of advancing shares was 534.

** Foreigners were net buyers of 177,432 million won worth of shares.

** The won’s high for the year is 1,114.7 per dollar on Jan. 2 and the low is 1,130.05 on Jan. 3.

** In money and debt markets, March futures on three-year treasury bonds fell 0.03 points to 109.27.

** The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.86 percent, while the benchmark 3-year Korean treasury bond yielded 1.803 percent, higher than the previous day’s 1.80 percent. (Reporting by Joori Roh; Editing by Shreejay Sinha)

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