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S.Korea shares track Wall Street lower on valuation, recovery concerns

* KOSPI tumbles near 2%, foreigners sell net $1.4 bln

* KRW marks sharpest fall since March 2020 vs USD

* South Korea benchmark bond yield edges down

* For the midday report, please click

SEOUL, Jan 28 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares tumbled on Thursday, tracking an overnight Wall Street sell-off, due to concerns over excessive valuations, while U.S. Federal Reserve’s caution on slowing economic recovery also weighed on sentiment. The won marked its sharpest fall in 10 months, while the benchmark bond yield also edged down.

** The benchmark KOSPI closed down 53.51 points, or 1.71%, at 3,069.05, after slumping as much as 2.4% in early trade.

** Most heavyweights slumped, leading benchmark declines, with chip giants Samsung Electronics and SK Hynix dropping 2.2% and 4.3%, respectively.

** Samsung Electronics posted a 26% jump in fourth-quarter operating profit but warned that a stronger currency and costs related to new chip production would lead to a weaker profit result in the current quarter.

** Adding to the stock rout worries, U.S. Federal Reserve policymakers flagged a worrying slowdown in the pace of the economic recovery.

** Foreign investors sold net 1.56 trillion won ($1.40 billion) worth of shares on the main board, while retail investors gobbled up net 1.94 trillion won.

** Meanwhile, a Reuters poll showed South Korea’s exports likely expanded for a third month in January on continued strong chip sales and overseas demand, underpinning export-led recovery hopes.

** The won ended at 1,119.6 per dollar on the onshore settlement platform, 1.36% lower than its previous close, marking the sharpest daily fall since March 23, 2020.

** In offshore trading, the won was quoted at 1,118.9 per dollar, down 0.9% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,118.6.

** In money and debt markets, March futures on three-year treasury bonds rose 0.03 points to 111.55.

** The most liquid 3-year Korean treasury bond yield fell by 0.5 basis points to 0.977%. ($1 = 1,118.6600 won) (Reporting by Joori Roh; Editing by Rashmi Aich)

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