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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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S.Korean stocks fall on Evergrand woes, Fed's tapering hint

09/23/2021 | 03:02am EDT

* KOSPI falls, foreigners net buyers

* Korean won weakens against U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Sept 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell on Thursday as fears lingered over property developer China Evergrande's debt burden, while investors weathered the prospect of a reduction in stimulus by the U.S. Federal Reserve. The Korean won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI fell 12.93 points, or 0.41%, to 3,127.58 as of 06:32.

** Among the heavyweights, technology giant Samsung Electronics rose 0.26% and peer SK Hynix fell 1.40%, while LG Chem rose 8.42% and Naver fell 0.74%.

** South Korea's markets resumed trading on Thursday after being closed from Monday through Wednesday for a public holiday.

** China's embattled property developer Evergrande faced a Thursday deadline to pay interest on one of its dollar bonds, in a crucial moment for global investors worried that its malaise could spread beyond the country's property sector.

** The Federal Reserve said on Wednesday it would likely begin reducing its monthly bond purchases as soon as November and signaled interest rate increases may follow more quickly than expected.

** Foreigners were net buyers of 553.1 billion won ($470.64 million) worth of shares on the main board.

** The won was quoted at 1,175.5 per dollar on the onshore settlement platform, 0.04% lower than its previous close at 1,175.0.

** In offshore trading, the won was quoted at 1,175.6 per dollar, up 0.5% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,175.9.

** The won has lost 7.6% against the dollar so far this year. ** In money and debt markets, December futures on three-year treasury bonds fell 0.09 points to 109.58.

** The most liquid 3-year Korean treasury bond yield rose by 1.9 basis points to 1.556%, while the benchmark 10-year yield rose by 3.4 basis points to 2.100%. ($1 = 1,175.2000 won) (Reporting by Cynthia Kim; Additional reporting by Jihoon Lee; Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 4.26% 2.69 End-of-day quote.-81.95%
LG CHEM, LTD. 1.49% 818000 End-of-day quote.-0.73%
NAVER CORPORATION -0.73% 407500 End-of-day quote.39.32%
SAMSUNG ELECTRONICS CO., LTD. 0.28% 70400 End-of-day quote.-13.09%
SK HYNIX INC. 2.28% 98500 End-of-day quote.-16.88%
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 547 B 70 415 M 70 415 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 354 B 45 488 M 45 488 M
P/E ratio 2021 14,7x
Yield 2021 1,41%
Capitalization 35 511 M 4 568 M 4 569 M
EV / Sales 2021 0,71x
EV / Sales 2022 0,47x
Nbr of Employees 163 119
Free-Float 18,6%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 2,69 HKD
Average target price 11,13 HKD
Spread / Average Target 314%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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