S.Korea stocks drop as grim industry outlook hits chip giants - EntornoInteligente
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* KOSPI index falls over 1%, foreigners net sellers * Korean won weakens versus U.S. dollar * South Korea benchmark bond yield falls SEOUL, June 13 (Reuters) – Round-up of South Korean financial markets: ** South Korea’s KOSPI stock index fell early on Thursday as a dimmer outlook of memory chip industry pulled down shares of chip giants — the heavyweights on the major index. The Korean won and the benchmark bond yield fell. ** As of 0225 GMT, the Seoul stock market’s main KOSPI fell 22.80 points or 1.08% to 2,085.95. ** South Korean chipmakers are falling (after being) affected by a report published by Evercore ISI, which pushed U.S. chip equipment maker Lam Research down more than 5%, said Seo Sang-young, an analyst at Kiwoom Securities. ** Evercore analyst C.J. Muse feared an estimate reset in the H2 2019 time frame, combined with a memory recovery now likely pushed to H2 2020 (from H1 2020), will be headwinds that would make it difficult for shares to move higher over the near term. ** Shares of Samsung Electronics and SK Hynix , which have a combined 28% weight on the KOSPI index, lost 2.1% and 3.2%, respectively, pulling down broader KOSPI index, Seo added. ** Foreigners were net sellers of 149.4 billion won ($126.02 million) worth of shares on the main board. ** The won was quoted at 1,185.3 per dollar on the onshore settlement platform , 0.23% lower than its previous close at 1,182.6. ** In offshore trading, the won was quoted at 1,184.7 per U.S. dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,183.8 per dollar. ** MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.32%, after U.S. stocks slipped . Japanese stocks fell 0.31%. ** The KOSPI has risen 2.46% so far this year, but lost 3.2% in the previous 30 trading sessions. ** The current price-to-earnings ratio is 12.10, the dividend yield is 1.28% and the market capitalisation is 1,242.04 trillion won. ** Trading volume during the session on the KOSPI index was 193.39 million shares and, of the total traded issues of 886, the number of advancing shares was 383. ** The won has lost 5.9% against the U.S dollar so far this year. ** In money and debt markets, June futures on three-year treasury bonds rose 0.07 points to 110.32. ** The most liquid 3-year Korean treasury bond yield fell by 1.0 basis points to 1.456%, while the benchmark 10-year yield fell by 1.0 basis points to 1.588%. ($1 = 1,185.5000 won) (Reporting by Hayoung Choi; editing by Uttaresh.V)


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