South Korea shares log weekly loss as rising global bond yields pressure equities

By Reuters News

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

** South Korean shares closed higher on Friday, but posted a weekly loss as rising global yields have put a premium on borrowing costs, undercutting equity prices. ** The benchmark KOSPI .KS11 closed up 32.39 points, or 0.46%, at 7,003.74. For the week, the index is down 1.09%. ** Chipmaker Samsung Electronics 005930.KS was flat, while peer SK Hynix 000660.KS gained 0.44%.

** 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 countrys'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.

** The three-year yield stood at 3.96%, hovering near a four-year high reached earlier in the week. ** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 2.91%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 0.72% and 0.35%, respectively.

** Steelmaker POSCO Holdings 005490.KS added 1.47%, while drugmaker Samsung BioLogics 207940.KS fell 4.51%. ** Of the total 918 traded issues, 500 shares advanced, while 362 declined. ** Foreigners were net sellers of shares worth 143.1 billion won. ** The won was quoted at 1,351.4 per dollar on the onshore settlement platform , 0.56% higher than its previous close at 1,359.0. ** The KOSPI has risen 66.20% so far this year. ** The won has strengthened 6.5% against the dollar so far this year. ** In money and debt markets, December futures on three-year treasury bonds gained 0.28 point to 102.64. ** The most liquid three-year Korean treasury bond yield fell 8.7 basis points to 3.930%, while the benchmark 10-year yield fell by 5.3 basis points to 4.386%.

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