S.Korean stocks end at 1-month low as tech shares, China data weigh

REUTERS | NOVEMBER 10, 20212:04 PM UPDATED 19 HOURS AGO

By Reuters Staff

* KOSPI falls, foreigners net sellers

* Korean won weakens against U.S. dollar

* South Korea benchmark bond yield falls

* For the midday report, please click

SEOUL, Nov 10 (Reuters) – Round-up of South Korean financial markets:

** South Korean shares hit their lowest close in a month on Wednesday, as major tech heavyweights tracked a sharp decline in Tesla Inc and as inflation data from China stoked fears of policy tightening. The won weakened and the benchmark bond yield fell.

** The benchmark KOSPI ended down 32.29 points, or 1.09%, at 2,930.17, marking the lowest close since Oct. 12.

** Tesla suffered its sharpest share price fall in 14 months on Tuesday as investors dumped the high-flying stock ahead of a possible stake sale by company chief Elon Musk.

** Chip giants Samsung Electronics and SK Hynix fell 0.43% and 0.46%, respectively, while battery maker LG Chem and carmaker Hyundai Motor fell 3.90% and 2.11% each.

** Foreigners were net sellers of 20.7 billion won ($17.51 million) worth of shares on the main board.

** Data from China that showed its factory gate inflation hit a 26-year high in October on soaring coal prices added to worries that a hot U.S. inflation reading, due later on Wednesday, could renew pressure on policymakers to lift interest rates.

** The won ended trading at 1,180.9 per dollar on the onshore settlement platform, 0.31% lower than its previous close.

** In offshore trading, the won was quoted at 1,180.9 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,181.6.

** In money and debt markets, December futures on three-year treasury bonds rose 0.01 points to 108.78.

** The most liquid 3-year Korean treasury bond yield rose by 0.2 basis points to 1.867%, while the benchmark 10-year yield fell by 0.2 basis points to 2.292%. ($1 = 1,181.8900 won) (Reporting by Joori Roh; Editing by Shailesh Kuber)