September 19, 2019 / 2:43 AM / in a month

S.Korea stocks gain on U.S. Fed move; chip giants rally

    * KOSPI climbs, foreigners net buyers
    * Korean won weakens versus U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, Sept 19 (Reuters) - Round-up of South Korean
financial markets:
South Korean shares gained on Thursday, with chip giants
boosting the broader markets, after the U.S. Federal Reserve
delivered an expected interest rate cut. The Korean won and the
benchmark bond yield dropped.
** The U.S. Federal Reserve cut interest rates again on
Wednesday to help sustain a record-long economic expansion but
signalled a higher bar to further reductions in borrowing costs.
"If the economy does turn down, then a more extensive sequence
of rate cuts could be appropriate," Fed Chair Jerome Powell
** Powell's comments that the Fed would react as appropriate
were not negative for markets, said Cho Byung-hyung, an analyst
at Yuanta Securities Korea. Now investors shifted their focus to
Sino-U.S. trade talks, he added. 
** South Korea's leading chipmakers Samsung Electronics
            and SK Hynix             rallied on expectations of
increased demand and higher chip prices.             
** As of 0239 GMT, the Seoul stock market's main KOSPI        
was up 10.93 points, or 0.53%, at 2,081.66. 
** Foreigners were net buyers of 124.3 billion won ($103.97
million) worth of shares on the main board. 
** The won was quoted at 1,195.7 per dollar on the onshore
settlement platform           , 0.37% lower than its previous
close at 1,191.3.
** In offshore trading, the won        was quoted at 1,195.6 per
U.S. dollar, down 0.4% from the previous session, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,194.5 per dollar.
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was down 0.24%, after U.S. stocks ended
marginally higher            . Japanese stocks         rose
** The KOSPI rose 2.02% so far this year, and gained 3.6% in the
previous 30 trading sessions.
** The trading volume during the session in the KOSPI index
        was 253.92 million shares and, of the total traded
issues of 891, the number of advancing shares was 433.
** The won lost 6.7% against the U.S dollar so far this year.
** In money and debt markets, December futures on three-year
treasury bonds         dipped 0.03 points to 110.73.
** The most liquid 3-year Korean treasury bond yield rose by 0.9
basis points to 1.319%, while the benchmark 10-year yield fell
by 1.1 basis points to 1.458%.
($1 = 1,195.5300 won)

 (Reporting by Hayoung Choi, Editing by Sherry Jacob-Phillips)
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