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Seoul: Stocks end higher; won weakens to over 3-month low
[SEOUL] South Korea's KOSPI stock index ended higher on Monday. The Korean won tumbled to its weakest closing low since early February, while bond yields rose. At 0632 GMT, the KOSPI was up 4.92 points or 0.20 per cent at 2,465.57.
The won was quoted at 1,085.4 per dollar on the onshore settlement platform, 0.72 per cent weaker than its previous close at 1,077.6. The currency extended losses later in the session as greenback continued to hold strong in the global markets.
In offshore trading, the won was quoted at 1,084.19 per US dollar, down 0.34 per cent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,068.25 per dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.25 per cent, after US stocks ended the previous session with losses. Japanese stocks rose 0.31 per cent. The KOSPI slipped about 0.3 per cent so far this year, and slid 2.18 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 570,415,000 shares, and of the total traded issues of 885, the number of advancing shares was 412. Foreigners were net sellers of 44,989 million won worth of shares.
The US dollar has risen 1.67 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 this year. In money and debt markets, June futures on three-year treasury bonds fell 0.06 points to 107.7.
The South Korean three-month Certificate of Deposit benchmark rate was quoted at 1.65 per cent, while the benchmark three-year Korean treasury bond yielded 2.25 per cent, higher than the previous day's 2.24 per cent.