South Korean shares rise on US trade talk optimism

Reuters
07-14
South Korean shares rise on US trade talk optimism

KOSPI rises, foreigners net buyers

Korean won weakens against dollar

South Korea benchmark bond yield rises

SEOUL, July 14 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose on Monday, buoyed by hopes of further negotiations, even as U.S. President Donald Trump threatened to escalate his trade war with major partners. The won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI .KS11 added 18.20 points, or 0.57%, to 3,193.97 as of 01:24 GMT.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS fell 0.64%, while peer SK Hynix 000660.KS gained 2.04%. Battery maker LG Energy Solution 373220.KS slid 1.87%.

** Hyundai Motor 005380.KS and sister automaker Kia 000270.KS gained 3.00% and up 1.59%, respectively. Steelmaker POSCO Holdings 005490.KS shed 0.62% and drugmaker Samsung BioLogics 207940.KS lost 1.51%.

** JPMorgan Chase & Co. said in a report on Friday Kospi may soar more than 50% from the current level over a two-year period if reform efforts gain momentum.

** On Saturday, Trump threatened to impose 30% tariffs on imports from Mexico and the European Union starting August 1 after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.

** Of the total 932 traded issues, 484 advanced and 405 declined.

** The won was quoted at 1,377.3 per dollar on the onshore settlement platform KRW=KFTC, 0.11% lower than Friday's close of 1,375.8.

** In offshore trading, the won KRW= was quoted at 1,376.6 per dollar, up 0.2% on the day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,373.6.

** The KOSPI has risen 33.11% so far this year.

** In the money and debt markets, September futures on three-year treasury bonds KTBc1 lost 0.05 point to 107.20.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose 1.5 basis points to 2.462%, while the benchmark 10-year yield KR10YT=RR added 2.6 basis points to 2.856%.

(Reporting by Cynthia Kim; Editing by Sumana Nandy)

((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))

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