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South Korean won firms on policymakers' comments; stocks rise



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Korean won strengthens against dollar

KOSPI rises from over two-month low

South Korea benchmark bond yield falls

SEOUL, April 18 (Reuters) -Round-up of South Korean financial markets:


** The South Korean won currency strengthened on Thursday as policymakers stepped up to make comments against excessive volatility, while shares rebounded from a more than two-month low and the benchmark bond yield fell.

** The won was quoted at 1,378.6 per dollar on the onshore settlement platform KRW=KFTC, 0.59% higher than its previous close at 1,386.8.

** The currency firmed for a second straight session and was 1.55% higher than a 17-month low of 1,400 hit on Tuesday.

** The U.S., Japan and South Korea agreed to "consult closely" on foreign exchange markets in their first trilateral finance dialogue on Wednesday, nodding to concerns from Tokyo and Seoul over their currencies' recent sharp declines.

** Bank of Korea Governor Rhee Chang-yong said authorities have the resources and tools to smooth out any volatile moves in the country's currency, signaling readiness to intervene in the market to shore up the won.

** The benchmark KOSPI stock index .KS11 rose 37.73 points, or 1.49%, to 2,622.69 by 0105 GMT, after falling for four consecutive sessions. On Wednesday, it hit its lowest level since early February.

** South Korea's financial watchdog chief said companies should pay more attention to shareholder voices.

** Most index heavyweights advanced, including chipmakers, battery makers, e-commerce firms and biopharmaceutical manufacturers.

** The Finance-major Index .KS49 jumped 1.61%, while the Securities-minor Index .KS53 gained 1.99%.

** Hanwha Solutions 009830.KS rose 5.60% after a Reuters report of a U.S. plan to remove tariff exemptions on solar panel imports, as requested by the South Korean company.

** Foreigners were net buyers of local shares worth 120.1 billion won ($87.16 million).

** The most liquid three-year Korean treasury bond yield fell by 4.1 basis points to 3.442%, while the benchmark 10-year yield fell by 5.9 basis points to 3.583%.


($1 = 1,377.9200 won)



Reporting by Jihoon Lee; Editing by Rashmi Aich

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