*
KOSPI falls 1.7%, foreigners net sellers
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Korean won hits two-month low
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South Korea benchmark bond yield rises
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For the midday report, please click SEOUL, Feb 22 (Reuters) - Round-up of South Korean
financial markets:
** South Korean shares dropped on Wednesday to their lowest
close in a month, weighed down by worries that the U.S. Federal
Reserve would deliver more rate increases.
** The Korean won hit a two-month low, while the benchmark
bond yield rose.
** The benchmark KOSPI fell 41.28 points, or 1.68%,
to 2,417.68 by the close of the session. The index marked the
biggest daily percentage fall since Feb. 6 and the lowest
closing level since Jan. 20.
** "Wall Street's overnight losses due to inflation concerns
stemming from an improvement in economic indicators weighed on
overall Asian markets," said Kim Seok-hwan, an analyst at Mirae
Asset Securities.
** S&P Global's flash U.S. Composite PMI Output Index
increased to 50.2 this month from a final reading of 46.8 in
January, ending seven straight months of the index being below
the 50 mark.
** The Fed will release the minutes of its latest policy
meeting later in the day, while the Bank of Korea is expected to
hold its policy rate steady on Thursday.
** A South Korean finance ministry official said the won's
recent pace of weakening was somewhat too fast when compared to
the trend in other currencies.
** Technology giant Samsung Electronics fell
1.61%, peer SK Hynix lost 2.30%, and battery maker
LG Energy Solution dropped 2.31%.
** Of the total 936 issues traded, only 148 shares advanced.
** Foreigners were net sellers of shares worth 240.6 billion
won ($184.30 million).
** The won ended onshore trade 0.69% lower at
1,304.9 per dollar, after touching its lowest level since Dec.
19, 2022 at 1,306.2.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.11 point to 103.62.
** The most liquid three-year Korean treasury bond yield
rose by 2.6 basis points to 3.650%, while the benchmark 10-year
yield rose by 4.6 basis points to 3.646%.
($1 = 1,305.4900 won)
(Reporting by Jihoon Lee; Editing by Subhranshu Sahu)
