KOSPI falls, foreigners net sellers
Korean won weakens against U.S. dollar
South Korea benchmark bond yield rises
For the midday report, please click
SEOUL, Sept 26 (Reuters) - Round-up of South Korean
** South Korean shares dropped to the lowest in more than two
years on Monday while the won posted its sharpest daily loss
since March 2020, as fears of a global recession grew after
Britain announced new tax cuts and huge increase in borrowing.
** The Korean won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI was down 69.06 points, or 3.02%,
at 2,220.94, as of 0630 GMT, the lowest close since July 27,
** Among heavyweights, technology giant Samsung Electronics
fell 1.10% and peer SK Hynix dropped
1.20%, while battery maker LG Energy Solution
** Britain's new measures to support the economy as well as
Italy's election results sparked worries about a further
downturn in the global economy, said Park Gwang-nam, an analyst
at Mirae Asset Securities.
** Britain's new finance minister, Kwasi Kwarteng, unleashed
historic tax cuts and huge increases in borrowing on Friday in
an economic agenda that floored financial markets, sending the
sterling and British government bonds into freefall.
** Oil prices plunged about 5% to an eight-month low on Friday
as the U.S. dollar hit its strongest level in more than two
decades and on fears rising interest rates will tip major
economies into recession, cutting demand for oil.
** The trading volume during the session in the KOSPI index
was 611.40 million shares. Of the total traded issues of
931, the number of advancing shares was 34.
** Foreigners were net sellers of shares worth 5.9 billion won
on the main board.
** The won was quoted at 1,431.3 per dollar on the onshore
settlement platform, 1.54% lower than its previous
close at 1,409.3.
** The most liquid 3-year Korean treasury bond yield rose by
31.0 basis points to 4.440%, while the benchmark 10-year yield
rose by 18.6 basis points to 4.293%.
(Reporting by Cynthia Kim; Additional reporting by Youn Ah
Moon; Editing by Sherry Jacob-Phillips)