August 21, 2019 / 3:23 AM / a month ago

S.Korea stocks gain as global stimulus hopes boost riskier assets

    * KOSPI index rises, foreigners net sellers
    * Korean won strengthens versus U.S. dollar
    * South Korea benchmark bond yield falls

    Seoul, Aug 21 (Reuters) - Round-up of South Korean financial
markets:
South Korean shares rose on Wednesday as prospects of more
economic stimulus tempered global recession fears amid signs of
a drop in foreign selling. The Korean won strengthened, while
the benchmark bond yield fell.
    
** As of 0311 GMT, the Seoul stock market's main KOSPI        
was up 4.54 points or 0.23% at 1,964.79 points. 
    
** Investors welcomed signs that more monetary stimulus was on
its way, hoping it would help stave off signs of an economic
downturn.     
    
** Foreign net selling has led South Korean stocks to drop
sharply since late-July. "However, it has now begun to ease,"
says Han Ji-young, analyst, Cape Investment & Securities 
    
** Foreigners were net sellers of 26 billion won worth of shares
on the main board. 
    
** U.S. President Donald Trump said on Tuesday his
administration was considering potential tax cuts on wages as
well as profit from asset sales, and sought to play down market
anxieties that the world's top economy could be heading for a
recession.             
    
** Shares of Hyosung Advanced Materials Corp             jump as
much as 19.7% after the South Korean industrial material
producer announced an investment plan of 680 billion won
($562.42 million) to expand carbon fibre production capacity
amid a trade conflict with Japan.             
    
** The won was quoted at 1,204.2 per dollar on the onshore
settlement platform           , 0.34% higher than its previous
close at 1,208.3.
 
** In offshore trading, the won        was quoted at 1,202.5 per
U.S. dollar, up 0.2% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,201.5 per dollar.
 
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.04%, after U.S. stocks dropped.
Japanese stocks         dipped 0.33%.            
 
** The KOSPI dropped 3.55% so far this year, and lost 5% 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 188.53 million shares and, of the total traded
issues of 891, the number of advancing shares was 494.
 
** The won lost 7.3% against the U.S dollar so far this year.
    
** The most liquid 3-year Korean treasury bond yield fell by 0.3
basis points to 1.098%, while the benchmark 10-year yield dipped
by 0.5 basis points to 1.193%.

 (Reporting by Yuna Park, Editing by Sherry Jacob-Phillips)
  
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