South Korean shares fall over 2% on heightening Mideast conflict

KOSPI falls, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield rises

- Round-up of South Korean financial markets:


** South Korean shares fell more than 2% on Wednesday, as worries mounted over rising hostilities in the Middle East.

** The benchmark KOSPI .KS11 was down 194.09 points, or 2.40%, at 7,902.84, as of 0138 GMT.

** The United States on Tuesday launched strikes against Iran after President Donald Trump said Tehran had shot down a U.S. Apache helicopter in the Strait of Hormuz, deepening doubts over a potential peace deal and further straining a fragile ceasefire.

** South Korea's finance minister agreed with other top economic policymakers to closely monitor risk around increased volatility in financial markets and its impact on various sectors, the ministry said.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS fell 4.35%, while peer SK Hynix 000660.KS lost 3.70%. Battery maker LG Energy Solution 373220.KS slid 0.76%.

** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 2.50% and down 0.24%, respectively. Steelmaker POSCO Holdings 005490.KS added 0.55%, while drugmaker Samsung BioLogics 207940.KS fell 0.46%.

** Of the total 919 traded issues, 443 shares advanced, while 431 declined.

** Foreigners were net sellers of shares worth 1.9 trillion won ($1.25 billion).

** The won was quoted at 1,519.4 per dollar on the onshore settlement platform KRW=KFTC, 0.88% higher than its previous close at 1,532.7.

** South Korea's central bank and financial watchdog are conducting on-site inspections from Wednesday on disturbing behaviour in the currency market, the finance ministry said.

** In money and debt markets, June futures on three-year treasury bonds KTBc1 were unchanged at 103.01.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 1.5 basis points to 3.920%, while the benchmark 10-year yield KR10YT=RR rose by 3.0 basis points to 4.302%.


($1 = 1,520.4000 won)