S.Korea stocks fall as traders gauge impact of commodity surge

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  • KOSPI falls, foreigners net sellers
  • Korean won weakens against U.S. dollar
  • South Korea benchmark bond yield rises

SEOUL, March 8 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares declined for a third session on Tuesday as investors evaluated the impact from surging commodity costs amid inflationary pressures, which may dampen global economic growth. The won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI (.KS11) was down 17.09 points, or 0.64%, at 2,634.22, as of 0319 GMT.

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** Among the heavyweights, technology giant Samsung Electronics (005930.KS) fell 0.57% and peer SK Hynix (000660.KS) dropped 0.84%, while LG Chem (051910.KS) dipped 0.97% and Naver (035420.KS) slipped 0.65%.

** Rising oil prices are fanning worries about slower global growth after Wall Street shares fell on such concerns, said Seo Sang-young, an analyst at Mirae Asset Securities said.

** A Western ban on Russian oil imports may more than double the price to $300 a barrel and prompt the closure of the main gas pipeline to Germany, Moscow warned on Monday, as talks on Ukraine hardly advanced amid efforts to agree on civilian safe passage. read more

** Foreigners were net sellers of 332.1 billion won worth of shares on the main board.

** The won was quoted at 1,234.0 per dollar on the onshore settlement platform , 0.56% lower than its previous close at 1,227.1.

** In offshore trading, the won was quoted at 1,234.5 per dollar, down 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,235.0.

** The KOSPI lost 11.53% so far this year, but fell 7.4% in the previous 30 trading sessions.

** The trading volume during the session in the KOSPI index (.KS11) was 331.31 million shares. Of the total traded issues of 927, the number of advancing shares was 151.

** The won weakened 3.7% against the dollar so far this year.

** In money and debt markets, March futures on three-year treasury bonds rose 0.03 points to 107.95.

** The most liquid 3-year Korean treasury bond yield fell by 0.5 basis points to 2.284%, while the benchmark 10-year yield rose by 0.8 basis points to 2.715%.

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Reporting by Cynthia Kim; Additional reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips

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