South Korea shares dip as rising global bond yields pressure equities

By Reuters News

SEOUL, Oct 2 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell on Friday and were set to log a weekly loss as rising global yields have put a premium on borrowing costs, undercutting equity prices. The won weakened, while the benchmark bond yield fell. ** The benchmark KOSPI .KS11 was down 23.46 points, or 0.34%, at 6,947.89, as of 0144 GMT. For the week, the index is down 1.41%.

** South Korean policymakers are ratcheting up verbal interventions to stabilise domestic financial markets amid an accelerating global bond selloff, vowing to curb short-term Treasury bond issuance and deploy market support measures if needed.

** The three-year yield stood at 4.01% on Friday morning, hovering near a four-year high reached earlier in the week. ** Chipmaker Samsung Electronics 005930.KS fell 0.72%, while peer SK Hynix 000660.KS lost 0.05%. ** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 0.97%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 1% and 1.24%, respectively.

** South Korea's annual consumer inflation slowed to the 2% range in September, driven down by government price control measures and falling agricultural costs, official data showed on Friday. ** Shares of steelmaker POSCO Holdings 005490.KS added roughly 1%, while drugmaker Samsung BioLogics 207940.KS fell 2.68%. ** Of the total 914 traded issues, 374 shares advanced, while 489 declined. ** The won was quoted at 1,362.5 per dollar on the onshore settlement platform , 0.26% lower than its previous close at 1,359.0. ** The KOSPI has risen 64.87% so far this year. ** The won has strengthened 5.7% against the dollar so far this year. ** In money and debt markets, December futures on three-year treasury bonds gained 0.16 point to 102.52. ** The most liquid three-year Korean treasury bond yield fell 4.7 basis points to 3.970%, while the benchmark 10-year yield fell 4.5 basis points to 4.394%.

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