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Seoul: Stocks snap losing streak; won at near 2-week closing high

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South Korea's won edged up to end at a nearly two-week high on Thursday as the greenback weakened in the global markets. Strong gains in the won improved sentiment, helping KOSPI stock index snap a five-day losing streak.

[SEOUL]  South Korea's won edged up to end at a nearly two-week high on Thursday as the greenback weakened in the global markets. Strong gains in the won improved sentiment, helping KOSPI stock index snap a five-day losing streak. 

At 0635 GMT, the KOSPI was up 20.18 points or 0.83 per cent at 2,464.16. The won was quoted at 1,073.1 per dollar on the onshore settlement platform, 0.73 per cent firmer than its previous close at 1,080.9.

In offshore trading, the won was quoted at 1,071.39 per US dollar, up 0.65 per cent from the previous day, while in one-year non-deliverable forwards it was being asked at 1,055.75 per dollar. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.60 per cent, after US stocks ended the previous session with mild gains. Japanese stocks rose 0.39 per cent.

The KOSPI is down around 1.0 per cent so far this year, and slipped 0.28 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.

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The trading volume during the session on the KOSPI index was 483,938,000 shares, and of the total traded issues of 885, the number of advancing shares was 528. Foreigners were net sellers of 41,230 million won worth of shares. The US dollar has risen 0.47 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 rose 0.08 points to 107.55. The Korean three-month Certificate of Deposit benchmark rate was quoted at 1.65 per cent, while the benchmark 3-year Korean treasury bond yielded 2.28 per cent, lower than the previous day's 2.31 per cent.

 

REUTERS