South Korean financial markets in brief:
** South Korean stocks and the won weakened on Tuesday as rising U.S. Treasury yields weighed on investor sentiment. Benchmark bond yields edged higher.
** The benchmark KOSPI index fell 18.11 points, or 0.65 percent, to 2,786.20 at 0158 GMT.
** Yields on 10-year U.S. Treasury notes rose Monday to their highest levels since late May as investors saw a greater likelihood of former President Donald Trump winning re-election in this year’s presidential election following last week’s debate with current President Joe Biden.
** The broad weakness in South Korean financial markets came despite data showing that the country’s consumer inflation slowed to an 11-month low in June, below market expectations and providing some relief to policymakers.
** Most of the index’s heavyweights fell, with automakers losing more than 2% and e-commerce companies more than 1%.
** Battery maker LG Energy Solution, which won a contract with Renault’s electric vehicle unit, erased early gains of more than 4% to hold steady.
** Chipmaker Samsung Electronics rose 0.24% as the impact of a strike declaration by a workers’ union in South Korea was not yet clear.
** Of the 929 stocks traded, 173 rose, while 710 fell.
** Foreigners were net buyers of shares worth 14.7 billion won ($10.59 million).
** The won was quoted at 1,387.5 per dollar on the onshore settlement platform, 0.27 percent lower than its previous close of 1,383.8.
** In money and debt markets, September three-year Treasury futures rose 0.08 points to 105.19.
** The yield on the most liquid three-year Korean Treasury bond fell 3.3 basis points to 3.180%, while the benchmark 10-year yield rose 0.4 bps to 3.315%. ($1 = 1,388.7300 won) (Reporting by Jihoon Lee; Writing by Rashmi Aich)
