South Korean stocks slip amid Middle East tensions

SEOUL: Round-up of South Korean financial markets:

South Korean shares end lower on caution ahead of elections, US data

• South Korean shares slipped on Monday amid a flight to safety, as investors grappled with tensions in the Middle East. The won hit a 17-month low, while the benchmark bond yield rose.

• The benchmark KOSPI fell 25.11 points, or 0.94%, to 2,657.58 by 02:06 GMT.

• Among index heavyweights, chipmaker Samsung Electronics fell 2.27% and peer SK Hynix lost 1.23%, while battery maker LG Energy Solution slid 0.13%.

• South Korea’s finance minister stepped up warnings that the government is ready to act to counter any renewed volatility in currency markets after the won has extended declines against the dollar.

• Hyundai Motor added 1.26% and sister automaker Kia Corp gained 3.55%, while search engine Naver and instant messenger Kakao were down 1.40% and down 1.25%, respectively.

• Iran launched explosive drones and fired missiles at Israel late on Saturday in its first direct attack on Israeli territory, a retaliatory strike that raised the threat of a wider regional conflict.

• Of the total 925 traded issues, 174 shares advanced, while 725 declined.

• Foreigners were net sellers of shares worth 138.8 billion won on the main board.

• The won was quoted at 1,383.3 per dollar on the onshore settlement platform, 0.57% lower than its previous close at 1,375.4.

• The KOSPI has risen 0.09% so far this year, but gained 1.1% in the previous 30 trading sessions.

• The won has lost 6.9% against the dollar so far this year.

• In money and debt markets, June futures on three-year treasury bonds fell 0.05 point to 104.38.

• The most liquid three-year Korean treasury bond yield rose by 1.7 basis points to 3.424%, while the benchmark 10-year yield rose by 0.1 basis points to 3.542%.