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MarketScreener Homepage  >  Indexes  >  World  >  KOSPI Composite Index    KOSPI   KRD020020008

KOSPI COMPOSITE INDEX

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South Korean stocks fall as Trump's tariffs on Brazil, Argentina hit risk appetite

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12/03/2019 | 01:59am EST
A currency dealer works in front of electronic boards showing the Korea Composite Stock Price Index (KOSPI) and the exchange rate between the Chinese yuan and South Korean won, at a dealing room of a bank in Seoul

Round-up of South Korean financial markets:

** South Korean shares slipped on Tuesday after U.S. President Donald Trump abruptly imposed tariffs against select imports from Brazil and Argentina, stoking fears that a trade war could be spreading. The Korean won weakened, while the benchmark bond yield rose.

** Trump on Monday announced tariffs on U.S. steel and aluminium imports from the two countries. The sentiment was also hit by weak U.S. manufacturing data.

** The KOSPI, however, erased some of its losses as investors saw the losses as excessive, said Han Ji-young, an analyst at Cape Investment & Securities.

** The Seoul stock market's main KOSPI ended down 7.85 points, or 0.38%, at 2,084.07. The index fell as much as 1.2% in early trade.

** Foreigners were net sellers for a 19th straight session, by selling 271.1 billion won ($229.88 million) worth of shares on the main board on Tuesday.

** The won was quoted at 1,187.2 per dollar on the onshore settlement platform <KRW=KFTC>, 0.35% lower than its previous close at 1,183.1.

** In offshore trading, the won was quoted at 1,187.5 per U.S. dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract <KRW1MNDFOR=> was quoted at 1,185.9 per dollar.

** MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was down 0.44%, after U.S. stocks lost around 1% overnight [MKTS/GLOB]. Japanese stocks <.N225> fell 0.64%.

** The KOSPI has risen 2.11% so far this year, and gained 1.3% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index was 436.16 million shares and, of the total traded issues of 906, the number of advancing shares was 307.

** The won has lost 6.0% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds fell 0.08 points to 110.24, while the 3-month Certificate of Deposit rate was quoted at 1.53% in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield rose by 4.0 basis points to 1.462% in late afternoon trade, while the benchmark 10-year yield rose by 5.5 basis points to 1.737%.

(Reporting by Hayoung Choi; Editing by Rashmi Aich)

Stocks mentioned in the article
ChangeLast1st jan.
EURO / ARGENTINE PESO (EUR/ARS) -0.07% 66.252 Delayed Quote.53.56%
EURO / BRAZILIAN REAL (EUR/BRL) 0.01% 4.5977 Delayed Quote.3.27%
HEWLETT PACKARD ENTERPRISE -0.31% 15.84 Delayed Quote.19.91%
KOSPI COMPOSITE INDEX 0.48% 2107.02 Real-time Quote.2.71%
LME ALUMINIUM CASH -0.91% 1750 End-of-day quote.-5.81%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.02% 59.739 Delayed Quote.59.25%
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