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South Korea: Stocks slightly down, won holds steady

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[SEOUL] South Korea's Kospi stock index was a bit weaker early on Tuesday. The Korean won barely moved in the local platform while bond yields rose.

As of 0109 GMT, the Kospi was down 3.59 points or 0.15 per cent at 2,471.44. The index pared losses after opening lower affected by losses in Wall Street overnight.

The won was quoted at 1,072.1 per dollar on the onshore settlement platform , 0.05 per cent weaker than its previous close at 1,071.6.

In offshore trading, the won was quoted at 1,071.3 per US dollar, up 0.11 per cent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,059.05 per dollar.

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MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.19 per cent, after US stocks ended the previous session with losses as tech shares sank on Facebook. Japanese stocks weakened 0.91 per cent.

The Kospi is up around 0.3 per cent so far this year, and up by 3.56 per cent in the previous 30 days.

The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 percent and the market capitalisation is 1,242.04 trillion won.

The trading volume during the session on the Kospi index was 104,627,000 shares, and of the total traded issues of 877, the number of advancing shares was 309.

Foreigners were net sellers of 80,136 million won worth of shares.

The US dollar has risen 0.46 per cent against the won this year. The won's high for the year is 1,056.67 per dollar on Jan 14, 2018, and low is 1,098.4 on Feb 6, 2018.

In money and debt markets, March futures on three-year treasury bonds rose 0.01 points to 107.84.

The Korean 3-month Certificate of Deposit benchmark rate was quoted at 1.65, while the benchmark 3-year Korean treasury bond yielded 2.284 per cent, higher than the previous day's 2.28 per cent.

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