S.Korea stocks fall on Ukraine woes, looming U.S. rate hike

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

SEOUL, March 14 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell on Monday, extending a decline from the previous week, as fighting between Russia and Ukraine continued, while a widely expected interest rate hike in the United States also dampened risk appetite. The Korean won weakened, while the benchmark bond yield rose.

** By 0157 GMT, the benchmark KOSPI (.KS11) fell 17.48 points, or 0.69%, to 2,642.94, following a 0.71% decline on Friday.

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** Among heavyweights, battery maker LG Energy Solution (373220.KS) slumped 6.65%, while chip maker SK Hynix (000660.KS) and platform company Naver (035420.KS) slid 0.85% and 0.46%, respectively.

** The fighting between Russia and Ukraine continued to rage, with a barrage of Russian missiles hitting a large Ukrainian base near the border with NATO member Poland. read more

** The U.S. Deputy Secretary of State said on Sunday Russia was showing signs it might be willing to have substantive negotiations over Ukraine.

** The Federal Open Market Committee is meeting this week, and is all but certain to begin hiking interest rates from their pandemic lows. The Bank of Japan and the Bank of England are also meeting this week.

** At home, South Korea's presidential office believes North Korea could test an intercontinental ballistic missile (ICBM) as soon as Monday, local media reported, citing an unnamed source. read more

** Foreigners were net sellers of 345.8 billion won ($279.29 million) worth of shares on the main board.

** The won was quoted at 1,238.1 per dollar on the onshore settlement platform , 0.50% lower than its previous close.

** In offshore trading, the won was quoted at 1,238.2 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,238.4.

** In money and debt markets, March futures on three-year treasury bonds fell 0.07 point to 108.08.

** The benchmark 10-year yield rose by 4.1 basis points to 2.741%.

($1 = 1,238.1400 won)

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Reporting by Joori Roh; Editing by Subhranshu Sahu

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