South Korea stocks fall on virus variant woes, firm dollar; focus on US data

SEOUL: Round-up of South Korean financial markets:

** South Korean shares ended lower on Thursday, pressured by worries about the spread of COVID-19's Delta variant and a strengthening of the US dollar ahead of a closely-watched US jobs report on Friday. The won weakened, while the benchmark bond yield also fell.

** The KOSPI closed down 14.62 points, or 0.44%, at 3,282.06.

** Among heavyweights, chip giants Samsung Electronics and SK Hynix fell 0.74% and 2.35%, respectively, while battery maker LG Chem and internet giant Naver dropped 0.59% and 1.08%.

** Foreigners were net sellers of 407.4 billion won ($359.70 million) worth of shares on the main board.

** The dollar headed for its biggest monthly rise since November 2016, as investors turned to the safe-haven currency betting that a good Friday jobs report will strengthen the US Federal Reserve's hawkish tilt.

** Worries about the novel coronavirus persist with high readings and snap lockdowns being announced in Australia, Indonesia, Malaysia and Thailand.

** Meanwhile, South Korean exports marked a fourth consecutive month of double-digit growth in June.

** Separately, a private sector survey also showed the country's factory activity extended growth into a ninth month in June.

** The won ended at 1,133.1 per dollar on the onshore settlement platform, 0.62% lower than its previous close at 1,126.1.

** In offshore trading, the won was quoted at 1,132.7, while in non-deliverable forward trading its one-month contract was quoted at 1,132.8.

** In money and debt markets, September futures on three-year treasury bonds fell 0.04 points to 109.93.

** The most liquid 3-year Korean treasury bond yield rose by 2.1 basis points to 1.469%, while the benchmark 10-year yield fell by 0.3 basis points to 2.089%.