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KOSPI closes at five-week low
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Korean won posts worst day in four weeks
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South Korea benchmark bond yield falls
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For the midday report, please click SEOUL, May 12 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell on Friday for a fourth straight
session, as risk appetite retreated on uncertainties surrounding
the U.S. debt ceiling, and logged their fourth consecutive
weekly loss. The won weakened, while the benchmark bond yield
fell.
** The benchmark KOSPI closed down 15.58 points, or
0.63%, at 2,475.42, the lowest since April 6. It ended the week
1.02% lower.
** A debt limit meeting between U.S. President and top
lawmakers that had been scheduled for Friday has been postponed,
and the leaders agreed to meet early next week, a White House
spokesperson said on Thursday.
** "Risk assets saw increased volatility on growth worries
and due to frictions in debt limit negotiations," said Lee
Kyoung-min, analyst at Daishin Securities.
** Technology giant Samsung Electronics Co Ltd fell 0.16%, but peer SK Hynix Inc gained 1.04%,
while battery maker LG Energy Solution Ltd declined
1.08%.
** Search Engine Naver Corp and instant
messenger Kakao Corp rose 1.18% and 1.07%,
respectively.
** Korea Electric Power Corp jumped 1.86% as the
state-run power utility announced a plan to cut costs and sell
assets, while the company's first-quarter loss narrowed from a
year before.
** Of the total 931 issues traded, 235 shares rose.
** Foreigners were net sellers of shares worth 248.9 billion
won ($188.4 million).
** The won ended onshore trade 0.61% lower at
1,334.5 per dollar, marking the worst daily performance since
April 17. It ended down 0.88% for the week.
** In money and debt markets, June futures on three-year
treasury bonds ended unchanged at 105.15.
** The most liquid three-year Korean treasury bond yield
rose by 0.9 basis point to 3.228%, while the benchmark 10-year
yield fell by 1.2 basis points to 3.277%.
($1 = 1,320.9300 won)
(Reporting by Jihoon Lee; Editing by Sonia Cheema)
