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KOSPI down to lowest since late-Jan
*
Korean won at weakest level since late-Nov 2022
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South Korea benchmark bond yield drops
SEOUL, March 10 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell more than 1% on Friday, tracking losses in Wall Street, as investors maintained a cautious stance ahead of a highly anticipated U.S. jobs data, with the benchmark on track for its worst week so far this year.
** The Korean won hit its weakest level since late-November
2022, while the benchmark bond yield dropped.
** The benchmark KOSPI was down 29.34 points, or
1.21%, at 2,389.75, as of 0126 GMT, after falling as much as
1.48% to its lowest intraday level since Jan. 20.
** The KOSPI lost 1.7% so far this week, facing its biggest weekly loss since December-end.
** Investor focus is on U.S. employment data due later in
the day, after Federal Reserve Chair Jerome Powell said earlier
this week that the central bank might have to raise interest
rates by more than previously anticipated.
** "Higher-than-expected (weekly) jobless claims in the
United States provided some relief, but a surprise in monthly
employment data may cause interest rates to rise higher again,"
said Na Jeong-hwan, an analyst at NH Investment and Securities.
** South Korea's finance minister said on Thursday foreign
exchange authorities were in talks to reactivate market
stabilizing measures, including a foreign exchange swap
programme between the pension fund and central bank.
** Banks and security firms were among biggest losers,
tracking a slump in the financial sector on Wall Street
overnight.
** Of the total 930 issues traded, only 109 shares advanced.
** Foreigners were net sellers of shares worth 191.4 billion
won ($144.41 million).
** The won was quoted 0.25% lower at 1,325.5 per dollar on
the onshore settlement platform , after touching the
weakest level since Nov. 30, 2022 at 1,327.2.
** The won was down 1.8% for the week and set for the worst
performance in three.
** The most liquid three-year Korean treasury bond yield
fell 10.4 basis points to 3.759%, while the benchmark 10-year
yield slipped 9.3 basis points to 3.649%.
($1 = 1,325.3600 won)
(Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)
