You are here
Seoul: Shares down; won weakens on dollar strength
[SEOUL] South Korea's KOSPI stock index weakened on Tuesday following a tepid Wall Street performance overnight. The Korean won fell on the greenback's broad strength, while bond yields rose.
At 0633 GMT, the KOSPI was down 17.57 points, or 0.71 per cent, at 2,458.54. Samsung Electronics declined 1.8 per cent, while SK Hynix and LG Electronics fell 0.9 per cent and 0.6 per cent respectively.
The won was quoted at 1,073.8 per dollar on the onshore settlement platform, 0.54 per cent weaker than its previous close at 1,068. In offshore trading, the won was quoted at 1,072.73 per US dollar, down 0.24 per cent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,057.1 per dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.87 per cent, after US stocks ended the previous session with mild gains. Japanese stocks weakened 0.21 per cent. The KOSPI is up around 0.3 per cent so far this year, and up by 1.63 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 701,110,000 shares and, of the total traded issues of 885, the number of advancing shares was 333. Foreigners were net sellers of 239,056 million won worth of shares. The US dollar has risen 0.6 per cent against the won this year. The won's high for the year is 1,053.55 per dollar on April 2, 2018 and low is 1,098.4 on Feb 6, 2018. In money and debt markets, June futures on three-year treasury bonds fell 0.03 points to107.44. The South Korean three-month Certificate of Deposit benchmark rate was quoted at 1.65 per cent compared with a previous close of 1.65 per cent, while the benchmark three-year Korean treasury bond yielded 2.313 per cent, higher than the previous day's 2.31 per cent.