Seoul: Stocks recoup losses on foreign net purchases; won gains

[SEOUL] South Korea's Kospi stock index recouped losses on Tuesday, rising for the eighth consecutive session - the longest term in two months - on foreign net purchases. The South Korean won strengthened, while the benchmark bond yield rose.

Seoul stock market's main Kospi rose 2.96 points or 0.13 per cent to 2,213.56 points. Foreigners were net buyers of 200.6 billion won worth of shares on the main board.

The won quoted at 1,142.1 per dollar on the onshore settlement platform, 0.23 per cent higher than its previous close at 1,144.7.

In offshore trading, the won quoted at 1,142.3 per US dollar, while in one-year non-deliverable forward trading its one-month contract was quoted at 1,141.3 per dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.27 per cent, after US stocks ended the previous session with mild losses. Japanese stocks rose 0.19 per cent.

The Kospi has risen 8.45 per cent so far this year, and fallen 0.9 per cent in the previous 30 trading sessions.

The price-to-earnings ratio was 12.10, the dividend yield was 1.28 per cent and the market capitalisation was 1,242.04 trillion won.

Trading volume during the session on Kospi index was 409.58 million shares and, of the total traded issues of 896, the number of advancing shares was 362.

The won has lost 2.3 per cent against the US dollar this year. In money and debt markets, June futures on three-year treasury bonds rose 0.02 point to 109.57, while the three-month certificate of deposit rate was quoted at 1.86 per cent.

The most liquid three-year South Korean treasury bond yield rose by 0.8 basis point to 1.731 per cent, while the benchmark 10-year yield rose by 1.2 basis points to 1.879 per cent. 

REUTERS