S.Korea stocks inch lower on virus worries, Fed official comments



* KOSPI falls, foreigners net sellers

* Korean won weakens against U.S. dollar

* South Korea benchmark bond yield rises

SEOUL, Aug 5 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares edged down on Thursday, as worries about the Delta coronavirus variant persisted and hawkish remarks from a senior U.S. Federal Reserve official weighed on risk appetite. The won was flat, while the benchmark bond yield rose.

** The KOSPI .KS11 fell 2.71 points, or 0.08%, to 3,277.67 as of 0247 GMT.

** Fed Vice Chair Richard Clarida, a major architect of the Fed's new policy strategy, said he felt the conditions for raising interest rates could be met by the end of 2022, driving U.S. bond yields and the dollar higher.

** South Korea reported 1,776 new coronavirus cases for Wednesday, more than a day earlier and nearing the daily record of 1,895 marked last week, as it struggled to tame the worst-ever outbreak of variant strains.

** Among heavyweights, technology giants Samsung Electronics 005930.KS and SK Hynix 000660.KS tumbled 0.60% and 2.07%, respectively, while battery maker LG Chem 051910.KS slid 0.35%.

** Foreigners were net sellers of 5.8 billion won ($5.07 million) worth of shares on the main board.

** The won was quoted at 1,143.7 per dollar on the onshore settlement platform KRW=KFTC , nearly unchanged from its previous close.

** In offshore trading, the won KRW= was quoted at 1,143.1 per dollar, up 0.1% from the previous day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,143.2.

** In money and debt markets, September futures on three-year treasury bonds KTBc1 rose 0.03 points to 110.33.

** The most liquid 3-year Korean treasury bond yield fell by 0.9 basis points to 1.409%, while the benchmark 10-year yield rose by 1.9 basis points to 1.885%. ($1 = 1,142.9600 won)
Reporting by Joori Roh; Editing by Ramakrishnan M.

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.