*
KOSPI falls, foreigners net sellers
*
Korean won weakens against dollar
*
South Korea benchmark bond yield rises
SEOUL, Feb 27 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares dropped more than 1% on Monday after higher-than-expected U.S. economic data sparked worries that the Federal Reserve will prolong its interest rate-hiking cycle.
** The Korean won touched its lowest in more than two
months, while the benchmark bond yield jumped.
** The benchmark KOSPI was down by 29.39 points, or
1.21%, at 2,394.22, as of 0132 GMT, after falling as much as
1.64% earlier in the day.
** Data showed last Friday that U.S. consumer spending
increased by the most in nearly two years in January amid a
surge in wage gains while inflation accelerated, adding to
market fears that the Fed could continue raising interest rates
into summer.
** "Rather than returning to 50-basis-point steps, the Fed
is likely to opt for 25-bp rate hikes for a longer period of
time," said Kim Seok-hwan, an analyst at Mirae Asset Securities.
** SeAH Besteel Holdings Corp jumped by the
daily limit of 30% to nearly three-month high on reports that
its affiliate was in talks with SpaceX for a supply contract.
** Shares of technology giant Samsung Electronics fell 1.47%, peer SK Hynix lost 1.43%,
and battery maker LG Energy Solution declined 1.37%.
** Of the total 931 issues traded, only 134 shares advanced.
** Foreigners were net sellers of shares worth 144.8 billion
won ($110.14 million).
** The won was quoted 0.75% lower at 1,314.7 per dollar on
the onshore settlement platform , after touching its
lowest level since Dec. 16, 2022 at 1,315.9.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.30 point to 103.61.
** The most liquid three-year Korean treasury bond yield
rose by 9.8 basis points to 3.656%, while the benchmark 10-year
yield climbed 7.3 basis points to 3.607%.
($1 = 1,314.6500 won)
(Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)
