South Korean bonds fall sharply, led by foreign selloff

SEOUL: South Korean government bond prices fell sharply on Wednesday led by foreign investors' heavy sales, with the yield on the benchmark 10-year debt rising to its highest closing level in more than three months.

The yield on the 10-year treasury bonds rose by 10 basis points to end at 3.04 percent, the highest close since Feb. 20.

Lead June futures on 3-year treasury bonds fell by 0.36 points to 106.28, with foreigners' net selling on the contract hitting a record 4.5 trillion won ($3.99 billion).