S.Korea stocks drop as grim industry outlook hits chip giants

* 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

** 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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