South Korean shares fall over 1% on China COVID woes; won drops



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KOSPI falls 1.2%, foreigners net sellers

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Korean won posts worst day in seven weeks

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South Korea benchmark bond yield inches down

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For the midday report, please click

SEOUL, Nov 28 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares closed more than 1% lower on Monday as risk-averse sentiment prevailed on worries over China's COVID-19 lockdown measures. The Korean won posted its biggest fall in seven weeks, while the benchmark bond yield fell.

** The benchmark KOSPI .KS11 fell 29.59 points, or 1.21%, to close at 2,408.27.

** China's strenuous efforts to contain COVID-19 outbreaks with lockdown measures have been met with public anger, triggering protests and social uneasiness.

** "The political uneasiness strengthened risk-averse sentiment in financial markets," said Mirae Asset Securities' analyst Seo Sang-young. "China will soon have to modify its 'zero-COVID' policy stance."

** Meanwhile, South Korea's central bank and government on Monday rolled out additional rescue measures for the local credit market.

** Among heavyweights, technology giant Samsung Electronics 005930.KS fell 1.48% and peer SK Hynix 000660.KS dropped 2.35%, tracking a more than 1% loss of the Philadelphia Semiconductor Index .SOX in the previous session.

** Battery maker LG Energy Solution 373220.KS lost 1.58%, while platform stocks Naver 035420.KS and Kakao 035720.KS ended down 2.43% and 2.67% each.

** Of the total 932 traded issues, only 166 shares rose.

** Foreigners were net sellers of shares worth 121.8 billion won ($90.98 million) on the main board.

** The won ended 1.23% lower at 1,340.2 per dollar on the onshore settlement platform KRW=KFTC . The currency weakened by the most since Oct. 11 and snapped a three-session gaining streak.

** In money and debt markets, December futures on three-year treasury bonds KTBc1 fell 0.08 point to 103.74.

** The most liquid three-year Korean treasury bond yield rose by 2.3 basis points to 3.670%, while the benchmark 10-year yield fell by 1.3 basis points to 3.610%. ($1 = 1,338.6900 won)
Reporting by Jihoon Lee

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