October 11, 2018 / 2:13 AM / 8 months ago

S.Korean shares plunge to 1-1/2-yr low, won slumps

    * KOSPI index drops as much as 2.9 pct, foreigners sell
    * Korean won plunges to 1-yr low versus U.S. dollar
    * South Korean bond yields drop

    SEOUL, Oct 11 (Reuters) - South Korean stocks markets
        slumped on Thursday, with the main KOSPI index tumbling
to its lowest since April 2017, amid a rout in Asian shares
after steep overnight losses on Wall Street.
    The session's 2.9 percent plunge deepened KOSPI index's
losses over the last eight sessions to more than 8 percent.
    South Korean technology stocks Samsung Electronics
            and SK Hynix             dropped more than 2 and 3
percent, respectively, pulling the KOSPI technology sub-index
down as much as 2.6 percent in the session.
    Almost all top 10 KOSPI stocks were in red, except Naver
           , which was under a trading halt ahead of a stock
split. Junior KOSDAQ index         slid 3.3 percent. 
    "South Korea (markets) have been hit by the United States
and these days also by China," said Kim Hak-kyun, an analyst at
Mirae Asset Daewoo. 
    The KOSPI index is down about 9.7 percent so far this year,
and has dropped 1.97 percent in the previous 30 days. Foreigners
were net sellers of 125,866 million won ($110.2 million) worth
of shares in the session.
    "There could be a rebound, but this will be limited,
considering the rout in U.S. tech shares and the possibility of
an extended trade conflict between the U.S. and China...," said
Kim Doo-un, an economist at KB Securities.
    The won was quoted at 1,140 per dollar on the onshore
settlement platform            as of 01:00 GMT, 0.53 percent
weaker than its previous close at 1,134. 
    The U.S. dollar has risen 6.9 percent against the won this
year. The won's high for the year is 1,053.55 per dollar on
April 2, 2018 and low is 1,143.56 on Oct. 10, 2018.
    In money and debt markets, December futures on three-year
treasury bonds         rose 0.09 points to 108.29.
    The Korean 3-month Certificate of Deposit benchmark rate was
quoted at 1.65 percent, while the benchmark 3-year Korean
treasury bond yielded 2.034 percent, lower than the previous
day's 2.06 percent. 

($1 = 1,142.1700 won)

 (Reporting by Hayoung Choi; Editing by Amrutha Gayathri)
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