South Korean won firms on US-Japan-S.Korea forex deal; shares rally

Round-up of South Korean financial markets:

** The won strengthened on Thursday after the finance ministers of South Korea, the U.S. and Japan agreed to cooperate on foreign exchange, while shares rebounded from a more-than-two-month low and the benchmark bond yield fell.

** The won ended onshore trade USDKRW at 1,372.9 per dollar, 1.01% higher than its previous close of 1,386.8.

** The won has firmed for two straight sessions since hitting a 17-month low of 1,400 on Tuesday.

** The U.S., Japan and South Korea agreed to "consult closely" on forex markets in their first trilateral finance dialogue, 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 won, signalling readiness to intervene to shore up the currency.

** The benchmark KOSPI stock index KOSPI closed up 50.52 points, or 1.95%, at 2,634.70, posting its biggest daily gain since March 21 and snapping a four-session streak of declines.

** "The stock market also rose on a steep fall in the dollar-won exchange rate after the finance ministers' joint statement showed a stern stance against excessive volatility," said Seo Sang-young, an analyst at Mirae Asset Securities.

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

** Most index heavyweights gained, including chipmakers, battery manufacturers, e-commerce firms and biopharmaceutical stocks. However, automakers fell.

** Foreigners were net buyers of shares worth 580.3 billion won ($422.7 million) on the main board.

** The most liquid three-year Korean treasury bond yield fell by 5.9 basis points to 3.424%, while the benchmark 10-year yield fell by 8.2 basis points to 3.560%.

($1 = 1,372.9500 won)