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S.Korea stocks slide for third day; all eyes on Powell, Yellen remarks

    * KOSPI slides, foreigners net sellers
    * Korean won flat against U.S. dollar
    * South Korea benchmark bond yield falls

    SEOUL, March 23 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares slipped for a third straight session
on Tuesday, hit by concerns about volatile U.S. bond yields,
while investors awaited fresh comments from top U.S.
policymakers. The won was nearly unchanged, while the benchmark
bond yield fell.
    
    ** The KOSPI         fell 6.55 points, or 0.22%, to 3,028.91
as of 0207 GMT, reversing early gains of as much as 0.77%. It
ended 0.13% lower on Monday.
    
    ** Among the benchmark heavyweights, technology giant
Samsung Electronics             rose 0.24%, while peer SK Hynix
            fell 0.72%. Battery maker LG Chem             and
internet giant Naver             also dropped 2.24% and 1.89%,
respectively.
    
    ** The 10-year U.S. bond yields eased to 1.684%            
after peaking at 1.754% on Thursday, but market's immediate
focus is on the Congressional testimony by Federal Reserve Chair
Jerome Powell and Treasury Secretary Janet Yellen later in the
day.
    
    ** Yellen expects Biden administration's $1.9 trillion
stimulus to boost economic growth and help the country return to
full employment in 2022, as it emerges from the pandemic.
            
    
    ** Meanwhile, Powell said in remarks prepared for a
congressional hearing on Monday that the U.S. recovery had
progressed "more quickly than generally expected and looks to be
strengthening".             
    
    ** Foreigners were net sellers of 138.4 billion won ($122.77
million) worth of shares on the main board. 
    
    ** The won was quoted at 1,128.2 per dollar on the onshore
settlement platform           , 0.02% higher than its previous
close at 1,128.4.
    
    ** In offshore trading, the won        was quoted at 1,127.3
per dollar, down 0.1% from the previous day, while in
non-deliverable forward trading its one-month contract
              was quoted at 1,127.3.
    
    ** The most liquid 3-year Korean treasury bond yield fell by
1.0 basis points to 1.120%, while the benchmark 10-year yield
fell by 0.1 basis points to 2.057%.

($1 = 1,127.3200 won)

 (Reporting by Joori Roh; Editing by Rashmi Aich)
  
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