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Seoul: Stocks rise; won stays at 3-year high on dollar weakness

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[SEOUL] South Korea's KOSPI stock index rose on Tuesday. The Korean won was unchanged and bond yields were steady.

At 0630 GMT, the KOSPI was up 18.01 points or 0.72 per cent at 2,521.74. The won was quoted at 1,062.7 per dollar on the onshore settlement platform, identical with its previous close at 1,062.7.

In offshore trading, the won was quoted at 1,061.87 per US dollar, up 0.05 per cent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,054.17 per dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.53 per cent. Japanese stocks rose 1 per cent.

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The KOSPI is up around 1.5 per cent so far this year, and up by 0.36 per cent in the previous 30 days. The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 per cent and the market capitalisation is 1,242.04 trillion won.

The trading volume during the session on the KOSPI index was 337,355,000 shares, and of the total traded issues of 886, the number of advancing shares was 381. Foreigners were net buyers of 276,843 million won worth of shares.

The US dollar has fallen 0.38 per cent against the won this year. The won's high for the year is 1,056.67 per dollar on Jan 14 and low is 1,073.2 on Jan 11.

In money and debt markets, March futures on three-year treasury bonds rose 0.05 points to107.59. The South Korean three-month Certificate of Deposit benchmark rate was quoted at 1.66 per cent compared with a previous close of 1.66 per cent, while the benchmark three-year Korean treasury bond yielded 2.225 per cent, barely changed from the previous day's 2.22 per cent.

REUTERS

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