S.Korean shares slip as EV battery stocks weigh; set for worst week since mid June



KOSPI falls 1%, set for sixth straight weekly loss


Korean won strengthens against U.S. dollar


South Korea benchmark bond yield at 11-year high

SEOUL, Sept 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell 1% on Friday, led by electric-vehicle battery makers and set for their biggest weekly drop in more than three months. The won strengthened, while the benchmark bond yield jumped.

** The benchmark KOSPI fell 23.33 points, or 1.00%, to 2,308.98, as of 0133 GMT, its lowest since July 15.

** The benchmark index has fallen more than 3% so far this week, set to extend its losing streak to a sixth week and mark its biggest weekly loss since mid-June.

** "Sharp gains in bond yields after the U.S. Federal Reserve's monetary policy meeting has set up an inevitably burdensome environment for stocks," Mirae Asset Securities analyst Park Kwang-nam said.

** Electric-vehicle battery makers led the losses, amid worsened sentiment after Tesla slumped. LG Energy Solution fell 3.17%, while Samsung SDI and SK Innovation lost 2.07% and 5.13%, respectively.

** Technology giant Samsung Electronics rose 0.37% but peer SK Hynix fell 1.40%. Of the total traded issues of 930, only 149 shares advanced.

** Foreigners were net sellers of shares worth 192.7 billion won ($136.87 million).

** The won was quoted at 1,406.3 per dollar on the onshore settlement platform , 0.24% higher than Thursday.

** Still, the currency has weakened more than 1% against dollar for the week, eying a seventh weekly loss in row.

** In offshore trading, the won was quoted down 0.2% at 1,407.4 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,406.0.

** In money and debt markets, December futures on three-year treasury bonds fell 0.21 point to 101.84.

** The most liquid 3-year Korean treasury bond yield rose by 11.7 basis points to 4.180%, hitting the highest since June 2011, while the benchmark 10-year yield jumped by 13.7 basis points to 4.124%, its highest since August 2011. ($1 = 1,407.9000 won) (Reporting by Jihoon Lee; Editing by Rashmi Aich) ((jihoon.lee@thomsonreuters.com;)) Keywords: SOUTHKOREA MARKETS/MIDDAY

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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