S.Korea stocks drop 3% on Wall St tech rout, higher U.S. yields

S.Korea stocks drop 3% on Wall St tech rout, higher U.S. yields
    * KOSPI falls, foreigners net sellers
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Feb 26 (Reuters) - Round-up of South Korean financial
markets:
    
    ** South Korean shares tumbled on Friday, reversing almost
all gains clocked in the previous session, as a tech rout on
Wall Street and a steep rise in U.S. Treasury yields weighed.
The won weakened, while the benchmark bond yield rose.
    
    ** The benchmark KOSPI         fell 85.74 points, or 2.77%,
to 3,013.95 by 0143 GMT, after jumping 3.50% in the previous
session.
    
    ** A drop in technology shares sank Wall Street overnight,
while the U.S. Treasury yields vaulted to their highest since
the pandemic began on expectations of a strong economic
expansion and related inflation.     
    
    ** Most heavyweights slid, with technology giants Samsung
Electronics             and peer SK Hynix             slumping
3.63% and 4.38%, respectively, while Naver             and LG
Chem             fell 2.35%-4.83%.
    
    ** Meanwhile, South Korea's exports likely grew for a fourth
straight month in February, a Reuters poll showed, thanks to
improving global trade, hopes of a vaccine-led recovery and
demand for semiconductors and cars. Full-month data is due on
March 1.             
    
    ** The Bank of Korea plans to make outright purchases of
treasury bonds worth around 5 to 7 trillion won ($4.5-$6.3
billion) during the first half of the year, a day after it kept
the benchmark interest rate              steady.             
    
    ** Foreigners were net sellers of 857.0 billion won ($764.34
million) worth of shares on the main board. 
    
    ** The won was quoted at 1,120.9 per dollar on the onshore
settlement platform           , down 1.17%.
    
    ** In offshore trading, the won        was quoted at
1,119.5, while in non-deliverable forward trading its one-month
contract               was quoted at 1,119.4.
    
    ** The most liquid 3-year Korean treasury bond yield rose by
2.8 basis points to 1.022%, while the benchmark 10-year yield
rose by 7.8 basis points to 1.959%.

($1 = 1,121.2300 won)

 (Reporting by Joori Roh)
  

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