South Korean shares fall for third day on US tech selloff

KOSPI falls, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield rises

For the midday report, please click

SEOUL, - Round-up of South Korean financial markets:

** South Korean shares fell for a third straight session on Wednesday, as overnight losses in U.S. technology stocks weighed.

** The benchmark KOSPI lost 21.47 points, or 0.68%, to 3,130.09, the lowest closing level since August 1. It fell as much as 2.29% during the session.

** Overnight declines in Nvidia and other major artificial intelligence -related stocks dragged the S&P 500 and the Nasdaq 0.6% and 1.5% lower, respectively.

** "Profit taking in Wall Street has been weighing on domestic market sentiment as well," said Lee Kyoung-min, an analyst at Daishin Securities.

** "The KOSPI recouped some losses near the close of the session on dip-buying, but volatility is expected to persist for the time being," said Park Kwang-nam, an analyst at Mirae Asset Securities.

** Chipmaker Samsung Electronics rose 0.71%, after media reports said the U.S. was considering taking equity stakes in chip companies in exchange for grants under the CHIPS Act that was meant to spur factory-building in the country.

** Peer SK Hynix fell 2.85%, tracking major customer Nvidia's overnight decline.

** LG Chem rose 2.16% after major South Korean petrochemical companies, including itself, agreed to restructure their operations, including large production cuts.

** Lotte Chemical cut early gains to gain 0.65%, while Hanwha Solutions fell 2.61%.

** Of the total 935 traded issues, 243 advanced and 645 declined.

** Foreigners were net sellers of shares worth 232.6 billion won .

** The won was quoted at 1,398.4 per dollar on the onshore settlement platform, 0.46% lower than Tuesday's close of 1,392.0.

** In the money and debt markets, September futures on three-year treasury bonds lost 0.01 point to 107.29.

** The most liquid three-year Korean treasury bond yield rose 0.1 basis point to 2.446%, while the benchmark 10-year yield added 1.7 basis points to 2.861%.

This article was generated from an automated news agency feed without modifications to text.

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