June 7, 2019 / 3:00 AM / 3 months ago

S.Korea stocks rise as investors pin hopes on G20 summit

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

    SEOUL, June 7 (Reuters) - Round-up of South Korean financial
South Korea's KOSPI stock index         climbed on Friday as
investors pinned hopes on G20 summit, which will host U.S.
President Donald Trump and his Chinese counterpart Xi Jinping.
The Korean won was flat, while the benchmark bond yield rose.
** As of 0254 GMT, the Seoul stock market's main KOSPI was up
10.48 points or 0.51% at 2,079.59 points. 
** Japan will host a Group of 20 finance ministers and central
bankers' meeting on June 8 and 9.             
** President Trump said he would decide whether to carry out his
threat to hit Beijing with tariffs on at least $300 billion in
Chinese goods after a meeting of leaders of the world's largest
economies later this month. The G20 summit in Japan marks the
first opportunity for Trump and Chinese President Xi Jinping to
meet since the last G20 summit in Buenos Aires in late 2018.
** Trump confirmed the summit would happen and investors saw the
Sino-U.S. negotiations are underway, said Seo Sang-young,
analyst, Kiwoom Securities. However, gains could be limited as
global financial markets would be rattled if the United States
slaps tariffs on Mexico, he added. 
** Trump's comments came amid increasing tensions between the
United States and its main trading partners.    
** The White House is standing firm on its position that Mexico
must take significant steps to halt the surge of Central
American migrants by Monday, or face tariffs on its exports to
the United States, spokeswoman Sarah Sanders said.             
** Foreigners were net sellers of 75.0 billion won ($63.68
million) worth of shares on the main board. 
** Samsung Heavy Industries             signed 449.7 billion won
($381.81 million) contract to build two LNG carriers for a
shipowner in Bermuda.             
** The won was quoted at 1,178.2 per dollar on the onshore
settlement platform           , 0.03% higher than its previous
close at 1,178.6.
** In offshore trading, the won        was quoted at 1,177.3 per
U.S. dollar, while in non-deliverable forward trading its
one-month contract               was quoted at 1,176.7 per
** MSCI's broadest index of Asia-Pacific shares outside Japan
                was up 0.20%, after U.S. stocks closed higher.
Japanese stocks         rose 0.52%.            
** The KOSPI rose 1.87% so far this year, but lost 6.7% 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 179.24 million shares and, of the total traded
issues of 889, the number of advancing shares was 557.
** The won lost 5.3% against the U.S dollar so far this year.
** In money and debt markets, June futures on three-year
treasury bonds         fell 0.05 points to 110.08. 
** The most liquid 3-year Korean treasury bond yield rose by 1.1
basis points to 1.553%, while the benchmark 10-year yield rose
by 1.0 basis points to 1.664%.

($1 = 1,177.8000 won)

 (Reporting by Hayoung Choi; Editing by)
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