S.Korean shares slump 4% as traders gauge US recession fears
KOSPI falls, foreigners net sellers
Korean won weakens against dollar
South Korea benchmark bond yield falls
SEOUL, Aug 5 (Reuters) -Round-up of South Korean financial markets:
** South Korean shares dropped more than 4% on Monday, tracking Wall Street's tumble in the previous session on fears the United States could be heading for recession, while authorities were alert amid heightened market volatility.
** The benchmark KOSPI .KS11 was down 109.81 points, or 4.1%, at 2,566.38, as of 0105 GMT, hitting its lowest level since April 19.
** On Friday, the KOSPI fell 3.6% to mark its biggest daily fall in nearly four years.
** U.S. stocks sold off for a second straight session on Friday, with the Nasdaq confirming it was in correction territory, after a soft jobs report stoked fears of an oncoming recession.
** South Korea's finance ministry issued a statement that authorities would take measures to respond to heightened volatility if needed, prior to market open on Monday.
** The country's financial regulator also said there was a need to closely monitor heightened volatility in the stock market.
** Chipmaker Samsung Electronics 005930.KS fell 4.9% while peer SK Hynix 000660.KS lost 3.4%.
** Most other index heavyweights also declined sharply, including automakers, e-commerce firms and biopharmaceutical manufacturers, but battery maker LG Energy Solution 373220.KS was flat.
** Of the total 933 traded issues, only 26 shares advanced, while 903 declined.
** Foreigners were net sellers of shares worth 679.0 billion won ($498.51 million).
** The won was quoted 0.56% lower at 1,363.6 per dollar on the onshore settlement platform KRW=KFTC, after dropping on Friday to its highest level since May 28.
** In money and debt markets, September futures on three-year treasury bonds KTBc1 rose 0.33 point to 106.24.
** The most liquid three-year Korean treasury bond yield fell 10.7 basis points to 2.826%, while the benchmark 10-year yield eased 9.9 basis points to 2.885%. They hit their lowest levels since April 2022.
($1 = 1,362.0600 won)
Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips
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