*
KOSPI snaps five-session rising streak
*
Korean won posts worst day in a month
*
South Korea benchmark bond yield jumps
*
For the midday report, please click SEOUL, March 8 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell more than 1% on Wednesday after hawkish comments by U.S. Federal Reserve Chair Jerome Powell raised concerns that the Fed's monetary tightening would become more aggressive.
** The Korean won posted its biggest daily loss since early
February, while the benchmark bond yield rose.
** The benchmark KOSPI closed down 31.44 points, or
1.28%, at 2,431.91. It was the first daily fall in six sessions.
** The Fed will likely need to raise interest rates more
than expected in response to recent strong data and is prepared
to move in larger steps if the "totality" of incoming
information suggests tougher measures are needed to control
inflation, Powell said on Tuesday.
** South Korea's finance minister said on Wednesday the
government would strengthen cooperation with the United States
on foreign exchange, without giving details.
** "Powell's remarks were more hawkish than expected to be,"
said Daishin Securities' analyst Lee Kyoung-min. "Monetary
policy worries will continue to cause volatility in the market,
ahead of U.S. employment and inflation data."
** Technology giant Samsung Electronics fell
0.66%, peer SK Hynix lost 2.36%, and battery maker
LG Energy Solution declined 0.71%.
** Instant messenger Kakao dropped 3.90%, while
search engine Naver fell 4.03%.
** Of the total 933 issues traded, only 199 shares advanced.
** Foreigners were net sellers of shares worth 155.0 billion
won ($117.39 million).
** The won ended onshore trade 1.66% lower at
1,321.4 per dollar, marking its biggest daily fall since Feb. 6.
** In money and debt markets, March futures on three-year
treasury bonds fell 0.37 points to 103.13.
** The most liquid three-year Korean treasury bond yield
jumped by 13.1 basis points to 3.857%, while the benchmark
10-year yield rose by 6.1 basis points to 3.723%.
($1 = 1,320.3600 won)
(Reporting by Jihoon Lee; Editing by Janane Venkatraman)
