South Korean shares post worst day in four years on tech rout
KOSPI falls 3.65%, biggest drop since Aug 2020
Samsung Electronics posts worst day since June 2020
Korean won weakens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N3JP019
SEOUL, Aug 2 (Reuters) -Round-up of South Korean financial markets:
** South Korean shares on Friday posted their worst session in four years, as chip stocks plunged after Wall Street's overnight slump on worries about an economic slowdown.
** The benchmark KOSPI .KS11 closed down 101.49 points, or 3.65%, at 2,676.19, marking its biggest daily percentage fall since Aug. 20, 2020.
** The KOSPI ended the week down 2.04%, extending its declines to a fourth straight week.
** "It's unlikely that the market will weaken in trend and is more likely to calm, but it is difficult to say at the moment where the trough will be," said Na Jeong-hwan, an analyst at NH Investment Securities.
** The U.S. stock benchmarks tumbled on Thursday as data suggested a weakening labour market and slowing manufacturing activity, a day after the U.S. Federal Reserve signalled that its rate cut could come as soon as September.
** U.S. employment data for July, which will be reported later in the day, will be closely watched to assess whether the U.S. economy is just slowing or heading into a recession, analysts said.
** Chipmaker Samsung Electronics 005930.KS fell 4.21%, posting its biggest drop since June 15, 2020, and peer SK Hynix 000660.KS plunged 10.40%, after overnight losses of 7.1% on the Philadelphia Semiconductor Index .SOX.
** South Korea's consumer inflation ticked up in July on supply-side pressures after weakening for three straight months, data showed on Friday, with policymakers attributing the rise to temporary factors.
** Most other index heavyweights also fell, including automakers, e-commerce firms and biopharmaceutical stocks.
** Of the total 936 traded issues, only 60 shares advanced, while 871 declined.
** Foreigners were net sellers of shares worth 843.2 billion won ($615.14 million).
** The won was quoted at 1,371.2 per dollar on the onshore settlement platform KRW=KFTC, 0.10% lower than its previous close at 1,369.8.
** The most liquid three-year Korean treasury bond yield fell by 1.3 basis points to 2.943%, while the benchmark 10-year yield fell by 2.2 basis points to 2.986%.
($1 = 1,370.7400 won)
Reporting by Jihoon Lee; Editing by Mrigank Dhaniwala
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