South Korean shares post worst day in over 5 months on U.S. banking sector woes

Kitco Media
By Reuters
Published:
Updated:
Reuters

* KOSPI falls sharply, foreigners net sellers
* Korean won weakens against dollar
* South Korea benchmark bond yield falls
* For the midday report, please click SEOUL, March 14 (Reuters) - Round-up of South Korean financial markets:


** South Korean shares fell 2.56% on Tuesday to post their worst day in more than five months, as fears of a U.S. banking sector crisis prompted investors to shun riskier assets.
** The won fell due to the risk aversion and foreign sell-off of local shares, while bond prices jumped on the safe-haven appeal of fixed-income securities.
** The stock market's benchmark KOSPI fell 61.63 points to end at 2,348.97. It was the biggest daily percentage drop since Sept. 26, 2022.
** Banks dropped 3.07%, slightly underperforming the broader market's 2.56% fall.
** Technology giant Samsung Electronics fell 1.67% and peer SK Hynix lost 3.80%, while battery maker LG Energy Solution declined 2.66%.
** Of the total 933 issues traded, just 48 shares gained.
** Foreigners were net sellers of shares worth 638.1 billion won ($487.27 million).


** The won ended onshore trade at 1,311.1 per dollar, 0.71% lower than its previous close at 1,301.8.


** In offshore trading, the won was quoted at 1,309.7 per dollar, down 1.0% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,307.7.
** The KOSPI has risen 5.03% so far this year, but lost 3.0% in the previous 30 trading sessions.
** The won has lost 3.6% against the dollar so far this year.
** In money and debt markets, March futures on three-year treasury bonds rose 0.66 point to 105.01.
** The most liquid three-year Korean treasury bond yield fell by 20.8 basis points to 3.224%, while the benchmark 10-year yield fell by 14.8 basis points to 3.250%. ($1 = 1,309.5500 won) (Reporting by Choonsik Yoo; Editing by Subhranshu Sahu)

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