Round-up of South Korean financial markets:
** South Korean shares fell sharply on Friday, and were on track for their biggest weekly drop in more than three months, as overnight losses in US tech stocks prompted investors to book profits.
** The benchmark KOSPI .KS11 was down 521.35 points, or 5.84 percent, at 8,408.95, as of 0225 GMT. During the session, the index triggered a "sidecar" trading curb, temporarily halting programme trading.
** The KOSPI has fallen 6.5 percent so far this week, heading for its biggest weekly loss since early March.
** US technology shares reversed early gains to move lower on Thursday, weighing on the Nasdaq as investors worried about hyperscaler spending on AI and who foots the bill. Those fears outweighed upbeat signals on AI demand from Micron MU.O and Qualcomm QCOM.O. .N
** Samsung Group will announce on Monday plans to invest 1,000 trillion won (US$645.87 billion) in South Korea over 10 years, including a potential 300 trillion won to build chip factories in the southwest of the country, a report said.
** "Today's slump can be mostly explained by high volatility amid concentration in the chip sector, while worries about memory demand declining are a bit excessive," said Han Ji-young, an analyst at Kiwoom Securities.
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS fell 6.69 percent, while peer SK Hynix 000660.KS lost 7.03 percent. Battery maker LG Energy Solution 373220.KS slid 5.11 percent.
** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 4.77 percent and down 4.30 percent, respectively. Steelmaker POSCO Holdings 005490.KS shed 5.73 percent, while drugmaker Samsung BioLogics 207940.KSfell 3.10 percent.
** Of the total 915 traded issues, 111 shares advanced, while 792 declined.
** Foreigners were net sellers of shares worth 2.6 trillion won (US$1.68 billion).
** The won was quoted at 1,548.2 per dollar on the onshore settlement platform KRW=KFTC, 0.33 percent lower than its previous close at 1,543.1.
** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 0.5 basis point to 3.757 percent, while the benchmark 10-year yield KR10YT=RR rose by 4.4 basis points to 4.165 percent.
Reuters
