March 7, 2019 / 2:40 AM / 4 months ago

S.Korea stocks inch lower on global growth concerns; won rises

    * KOSPI index edges down, foreigners sell
    * Korean won inches up against USD
    * South Korea bond yields down

    SEOUL, March 7 (Reuters) - Round-up of South Korean
financial markets:
    ** South Korea's KOSPI stock index         inched down on
Thursday, tracking Wall Street losses after weak U.S. data, amid
global growth concerns as OECD cuts global growth forecasts
again. The Korean won ticked up, while the benchmark bond yields
    ** The U.S. goods trade deficit surged to a record high in
2018 as strong domestic demand fuelled by lower taxes pulled in
imports, despite the Trump administration's "America First"
policies, including tariffs, aimed at shrinking the trade gap.
    ** Other U.S. data on Wednesday suggested some slowing in
the labour market, though the pace of job gains remains more
than enough to drive the unemployment rate down.
    ** Also weighing on investor sentiment were broader concerns
about growth after the Organization for Economic Co-Operation
and Development cut forecasts again for the global economy in
2019 and 2020.             
    ** South Korea's finance ministry said the interim growth
rate forecast by the OECD was also cut to 2.6 percent from 2.8
percent for 2019, and to 2.6 percent from 2.9 percent for 2020,
adding that it expects the expansionary fiscal policy as well as
low inflation rate to support the domestic demands. 
    ** The benchmark KOSPI index fell 1.60 points, or 0.07
percent, to 2,174.00 point as of 0233 GMT.
    ** South Korean budget carrier Jin Air Co Ltd            ,
an affiliate of the country's largest airline Korean Air Lines
Co Ltd            , jumps as much as 7 pct on hopes curbs would
to be lifted after Chairman Cho Yang-ho plans to step down as
director from the group's six affiliates             
    ** Foreigners were net sellers of 59.4 billion won worth of
shares on the main board.
    ** The won was quoted at 1,127.2 per dollar on the onshore
settlement platform           , 0.14 percent higher than its
previous close at 1,128.8.
    ** In offshore trading, the won        was quoted at 1,127.1
per U.S. dollar, up 0.0 percent from the previous day, while in
one-year non-deliverable forward trading its one-month contract
              was quoted at 1,125.2 per dollar.
    ** MSCI's broadest index of Asia-Pacific shares outside
Japan                 was up 0.02 percent, after U.S. stocks
ended the previous session with losses            . Japanese
stocks         fell 0.72 percent.
    ** The KOSPI has risen 6.57 percent so far this year, and
rose 3.3 percent in the previous 30 trading sessions.
    ** 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 121.42 million shares and, of the total traded
issues of 894, the number of advancing shares was 295.
    ** The won has lost 1.0 percent against the U.S dollar this
    ** In money and debt markets, March futures on three-year
treasury bonds         rose 0.05 points to 109.21, while the
3-month Certificate of Deposit rate was quoted at 1.89 percent.
    ** The most liquid 3-year Korean treasury bond yield fell by
1.1 basis points to 1.817 percent, while the benchmark 10-year
yield fell by 2.0 basis points to 2.001 percent.

 (Reporting by Joori Roh; Editing by Rashmi Aich)
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