SEOUL: Round-up of South Korean financial markets:
South Korean shares tumbled more than 6% on Thursday, weighed down by a global selloff in chipmakers as Meta Platforms' plan to sell computing power raised questions over excess AI capacity. The won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI was down 519.03 points, or 6.25%, at 7,784.38, as of 0103 GMT. The Korea Exchange briefly suspended programme selling by triggering a sidecar.
** Among index heavyweights, chipmaker Samsung Electronics fell 7.71%, while peer SK Hynix lost 9.34%. Battery maker LG Energy Solution climbed 0.43%.
** Meta Platforms is building a cloud business to sell excess AI computing capacity.
** Hyundai Motor and sister automaker Kia Corp were down 4.10% and down 0.99%, respectively. Steelmaker POSCO Holdings shed 1.90%, while drugmaker Samsung BioLogics rose 0.21%.
** Of the total 912 traded issues, 277 shares advanced, while 613 declined.
** Foreigners were net sellers of shares worth 3,174.2 billion won.
** The won was quoted at 1,554.8 per dollar on the onshore settlement platform, 0.23% lower than its previous close at 1,551.2.
** In offshore trading, the won was quoted at 1,554.7 per dollar, down 0.3% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,553.7.
** The KOSPI has risen 84.72% so far this year.
** The won has weakened 7.4% against the dollar this year.
** In money and debt markets, September futures on three-year treasury bonds gained 0.10 point to 103.02.
** The most liquid three-year Korean treasury bond yield fell by 1.9 basis points to 3.768%, while the benchmark 10-year yield rose by 3.8 basis points to 4.195%. - Reuters
