July 4, 2019 / 7:17 AM / 4 months ago

S.Korean stocks snap 4-day losing streak as U.S. rate cut bets rise

* KOSPI index climbs, foreigners net buyers

* Korean won strengthens versus U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, July 4 (Reuters) - Round-up of South Korean financial markets: ** South Korean stocks snapped a four-session losing streak to end higher on Thursday, boosted by rising hopes of a rate cut by the U.S. Federal Reserve, in a choppy session due to caution ahead of Samsung Electronic’s second-quarter results. The won strengthened, while the benchmark bond yield fell.

** Recent data from multiple sectors pointed to slowing economic growth in the United States, bolstering the prospect of rate cuts by the Fed.

** The KOSPI benchmark index closed up 12.71 points, or 0.61%, at 2,108.73, snapping a four-session losing streak.

** The KOSPI index closed higher tracking solid global markets, after Wall Street closed at record highs on expectations of a rate cut by the Fed, said Lee Young-gon, an analyst at Hana Financial Investment. South Korean market had been choppy on worries over Japan’s export curbs and ahead of Samsung’s second-quarter profit announcement, Lee added.

** Samsung Electronics is likely to say second-quarter profit more than halved when it reports preliminary earnings on Friday, as a drop in memory chip shipments to China’s embattled Huawei exacerbated a price-squeezing supply glut.

** The pharmaceutical sub-index was the biggest percentage loser by falling 3%, dragged down by Hanmi Pharm and Hanmi Science that fell more than 27% each.

** Shares of Air Busan, Asiana Airlines’ low-budget carrier, closed up 15%, rising for a fourth straight session on expectations of a sale of the company separately from Asiana.

** South Korea’s economic policy chief said he would not rule out direct countermeasures against Japan if Tokyo keeps restrictions on exports of high-tech materials to South Korean companies for a long time.

** Foreigners were net buyers of 40.0 billion won ($34.23 million) worth of shares on the main board.

** The won was quoted at 1,168.6 per dollar on the onshore settlement platform, 0.23% higher than its previous close at 1,171.3.

** In offshore trading, the won was quoted at 1,168.6 per U.S. dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,167.8 per dollar.

** MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.30%, after U.S. stocks closed at record highs. Japanese stocks rose 0.30%.

** The KOSPI has risen 3.32% so far this year, and gained 1.7% 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 440.23 million shares and, of the total traded issues of 894, the number of advancing shares was 360.

** The won has lost 4.5% against the U.S dollar so far this year.

** In money and debt markets, September futures on three-year treasury bonds rose 0.04 points to 110.57, while the 3-month Certificate of Deposit rate was quoted at 1.78%.

** The most liquid 3-year Korean treasury bond yield fell by 0.4 basis points to 1.425%, while the benchmark 10-year yield fell by 0.3 basis points to 1.531%. ($1 = 1,168.5100 won) (Reporting by Hayoung Choi; Editing by Rashmi Aich)

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