S.Korean shares end nearly 2% higher on U.S.-China tariff optimism

* KOSPI snaps four-session losing streak

* Korean won weakens against U.S. dollar

* South Korea benchmark bond yield drops

* For the midday report, please click

SEOUL, July 5 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares closed 1.8% higher on Tuesday, after four straight sessions of losses, on hopes that the United States will ease some Chinese tariffs.

** But, the Korean won weakened, while the benchmark bond yield dropped amid the country’s inflation hitting a 24-year high.

** The benchmark KOSPI ended up 41.44 points at 2,341.78, after touching its lowest since early-November 2020 in the previous session.

** China’s commerce ministry said Vice Premier Liu He had a “constructive” exchange via a video call with U.S. Treasury Secretary Janet Yellen on Tuesday.

** Hopes increased even more for Biden administration’s easing of Chinese tariffs after the talk, said Daishin Securities’ analyst Lee Kyoung-min.

** South Korea’s inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big rate hike by the central bank.

** Among heavyweights, technology giant Samsung Electronics rose 0.18% and peer SK Hynix jumped 3.82%, while battery maker LG Energy Solution gained 1.54%.

** COVID-19 vaccine maker SK Bioscience soared 24.87% as the country’s daily infections jumped to the highest since late-May, fanning expectations of additional booster shots.

** Foreigners were net buyers of 135.4 billion won ($104.11 million) worth of shares on the main board, snapping a five-session selling streak.

** The won was last quoted at 1,300.3 per dollar on the onshore settlement platform, down 0.25%.

** In offshore trading, the won was quoted down 0.3%, while in non-deliverable forward trading its one-month contract was quoted at 1,299.5.

** In money and debt markets, September futures on three-year treasury bonds rose 0.38 point to 104.34 in late afternoon trade.

** The most liquid 3-year Korean treasury bond yield fell by 12.6 basis points to 3.319%, while the benchmark 10-year yield dropped by 11.9 basis points to 3.380%. ($1 = 1,300.5300 won) (Reporting by Jihoon Lee; editing by Uttaresh.V)