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KOSPI falls, foreigners net sellers

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Korean won strengthens against dollar

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South Korea benchmark bond yield rises

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For the midday report, please click

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

** South Korean shares dropped more than 2% on Wednesday, on the ex-dividend effect and sharp losses of heavyweight chipmakers as well as battery manufacturers. The Korean won strengthened, while the benchmark bond yield jumped.

** The benchmark KOSPI fell 52.34 points, or 2.24%, to 2,280.45 by the close of the session.

** The index hit the lowest closing level since Oct. 28 and the biggest daily loss since Sept. 28.

** It was the ex-dividend date for the year 2022, and the sharp fall of local stocks reflected no entitlement to annual dividend payouts early next year.

** "A 1.56% loss in the benchmark index was estimated to have accounted for the effect of ex-dividend, while the rest was due to tech-led weakness on Wall Street overnight," said Lee Kyoung-min, analyst at Daishin Securities.

** Thursday will be the last day of trading for this year for South Korean financial markets.

** Chipmakers Samsung Electronics and SK Hynix fell 2.58% and 1.30%, respectively, tracking U.S. peers' losses overnight.

** Battery maker LG Energy Solution dropped 4.49% after its customer Tesla tumbled more than 10% on a plan to run a reduced production schedule at its Shanghai plant next month. Peers Samsung SDI and SK Innovation declined 3.37% and 2.80%, respectively.

** Less than a third of the shares advanced among 933 total traded issues.

** Foreigners were net sellers of shares worth 303.0 billion won ($238.96 million).

** The won ended onshore trade at 1,267.0 per dollar, 0.35% higher than its previous close at 1,271.4.

** In money and debt markets, March futures on three-year treasury bonds fell 0.12 point to 103.65.

** The most liquid three-year Korean treasury bond yield rose by 3.9 basis points to 3.700%, while the benchmark 10-year yield rose by 8.6 basis points to 3.698%. ($1 = 1,268.0100 won) (Reporting by Jihoon Lee; Editing by Krishna Chandra Eluri)