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Seoul: Stocks rise, korean won takes a breather

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[SEOUL] South Korea's Kospi stock index rose on Wednesday. The Korean won weakened in the local platform and bond yields fell.

At 01:29 GMT, the Kospi was up 6.10 points or 0.25 per cent at 2,485.75.

The won was quoted at 1,064.4 per US dollar on the onshore settlement platform, 0.3 per cent weaker than its previous close at 1,061.2. The currency touched a more than three-year high on Tuesday.

In offshore trading, the won was quoted at 1,065.17 per US dollar, down 0.28 per cent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,057.5 per US dollar.

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MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.32 per cent, after US stocks ended their Tuesday session with mild gains.

The Kospi is up around 0.5 per cent this year, and up by 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 99,327,000 shares, and of the total traded issues of 875, the number of advancing shares was 377.

Foreigners were net buyers of 165,236 million won worth of shares.

The US dollar has fallen 0.11 per cent against the won this year. On Jan 2, 2018, the won reached a high for the year of 1,060.35 per US dollar and a low of 1,067.5.

In money and debt markets, March futures on three-year treasury bonds rose 0.02 points to 107.96.

The Korean three-month Certificate of Deposit benchmark rate was quoted at 1.66 per cent, unchanged from its previous close, while the benchmark three-year Korean treasury bond yielded 2.11 per cent, lower than the previous day's 2.12 per cent.

REUTERS