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S.Korean stocks close over 1% lower on worries over Sino-U.S. trade deal delay

Credit: REUTERS/KIM KYUNG-HOON

Round-up of South Korean financial markets:

KOSPI shrinks over 1%, foreigners net sellers

Korean won drops to more than 1-month low vs dollar

South Korea benchmark bond yield falls

For the midday report, please click

SEOUL, Nov 21 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares ended over 1% lower on Thursday on worries about a further delay in the U.S.-China trade deal, and as foreigners continued to sell equities ahead of the rebalancing of MSCI index. The Korean won weakened to a more than one-month low and the benchmark bond yield fell.

** The Seoul stock market's main KOSPI .KS11 ended down 28.72 points, or 1.35%, at 2,096.60. The benchmark index dropped for the fourth straight session, and posted its lowest close since Oct. 31.

** The U.S. House of Representatives on Wednesday passed two bills to back protesters in Hong Kong and send a warning to China about human rights, with President Donald Trump expected to sign them into law, despite delicate trade talks with Beijing.

** The trade deal is likely to be postponed to next year, said Huh Jae-hwan, an analyst at Eugene Investment. The news about possible U.S. troop withdrawal from South Korea had limited impact as it is not directly related to corporate results, he added.

** The United States is considering a significant cut to its troop numbers in South Korea if Seoul does not contribute more to the cost of the deployment, South Korean newspaper Chosun Ilbo reported on Thursday.

** Foreigners were net sellers of around 570.8 billion won ($484.60 million) worth of shares on the main board, the most since Aug. 6. They extended selloff for the eleventh consecutive session.

** The won was quoted at 1,178.1 per dollar on the onshore settlement platform KRW=KFTC, 0.68% lower than its previous close at 1,170.1. The currency registered its lowest close since Oct. 18.

** In offshore trading, the won KRW= was quoted at 1,178.0 per U.S. dollar, down 0.7% from the previous day, while in non-deliverable forward trading, its one-month contract KRW1MNDFOR= was quoted at 1,177.4 per dollar.

** MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 1.13%, after U.S. stocks sagged overnight MKTS/GLOB. Japanese stocks .N225 fell 0.48%.

** The KOSPI has risen 2.72% so far this year, and gained 3.9% in the previous 30 trading sessions.

** The trading volume during the session on the KOSPI index .KS11 was 572.00 million shares and, of the total traded issues of 905, the number of advancing shares was 125.

** The won has lost 5.3% against the dollar so far this year.

** In money and debt markets, December futures on three-year treasury bonds KTBc1 fell 0.07 points to 110.23, 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 0.8 basis points to 1.459% in late afternoon trade, while the benchmark 10-year yield fell by 0.6 basis points to 1.667%.

($1 = 1,177.8800 won)

(Reporting by Hayoung Choi; editing by Uttaresh.V)

((hayoung.choi@thomsonreuters.com; +82 2 6936 1468;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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