S.Korean stocks end at 1-week low as Kakao, Naver drop on regulatory risks | MarketScreener

* KOSPI falls, foreigners net sellers

* Korean won weakens against U.S. dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Sept 8 (Reuters) – Round-up of South Korean financial
markets:

** South Korean shares closed on Wednesday at their lowest
in more than a week, as regulatory risks dragged technology
heavyweights Naver and Kakao, while a sharp rise in local
COVID-19 cases dented sentiment.

** The won weakened, while the benchmark bond yield rose.

** The KOSPI ended down 24.43 points, or 0.77%, at
3,162.99, its lowest since Aug. 30.

** The country’s financial regulator said financial services
platform apps such as Kakao’s soon-to-be-listed unit Kakao Pay
must stop their financial product comparison and recommendation
service by Sept. 24 unless they register with the regulator or
receive a license or permission to carry it out.

** That pulled down mobile messenger app operator Kakao
and Naver, the country’s dominant web
portal operator which also offers financial services through
unit Naver Financial, by 10.06% and 7.87%, respectively.

** Other heavyweights such as chip giants Samsung
Electronics and SK Hynix rose 0.26% and
1.44%, respectively.

** Meanwhile, the Korea Disease Control and Prevention
Agency (KDCA) reported 2,050 new COVID-19 cases for Tuesday, a
jump from 1,597 a day earlier.

** Foreigners were net sellers of 282.3 billion won ($242.10
million) worth of shares on the main board.

** The won ended at 1,166.7 per dollar on the onshore
settlement platform, down 0.76%.

** In offshore trading, the won was quoted at 1,166.0
per dollar, down 0.3%, while in non-deliverable forward trading,
its one-month contract was quoted at 1,166.4.

** In money and debt markets, September futures on
three-year treasury bonds fell 0.08 point to 110.24.

** The benchmark 10-year yield rose by 4.2 basis points to
2.016%.
($1 = 1,166.0500 won)
(Reporting by Joori Roh; editing by Uttaresh.V)