SEOUL, Nov. 29 (Reuters) – Overview of South Korean financial markets:

** South Korean stocks hit their lowest level in nearly 11 months on Monday, as concerns over the Omicron coronavirus variant and its impact on the global economy sparked a wide sell-off. The won remained stable, while the yield on benchmark bonds increased.

** As of 02:16 GMT, KOSPI (.KS11) lost 8.83 points, or 0.30%, to 2,927.61, after falling 1.55% in early trade to the lowest intraday level since January 4.

** The index is set for a fifth consecutive session of losses.

** The Omicron variant spread around the world on Sunday, with new cases found in the Netherlands, Denmark and Australia even as more countries imposed travel restrictions to shut down. Read more

** At home, South Korea reported 3,309 new coronavirus cases for Sunday, but no Omicron variant cases have been reported so far.

** The global spread of the variant may impact the country’s strong export growth. South Korean exports likely increased for the 13th consecutive month in November, according to a Reuters poll. Read more

** Chip giants Samsung Electronics (005930.KS) and SK Hynix (000660.KS) rose 0.69% and 2.16%, respectively, while battery maker LG Chem (051910.KS) and Hyundai Motor (005380.KS) fell 0.69% and 1.22%, respectively.

** Foreigners were net buyers of 27.7 billion won ($ 23.20 million) of shares on the main board.

** The won was traded at 1,193.1 to the dollar on the onshore settlement platform, largely unchanged from its previous close.

** In offshore trading, the won was listed at 1,193.8, while in undeliverable futures trading, its one-month contract was listed at 1,194.0.

** In money and debt markets, December futures on three-year Treasury bills fell 0.04 points to 108.84.

** The 10-year benchmark yield increased 4.7 basis points to 2.300%.

($ 1 = 1,193.8,800 earned)

Reporting by Joori Roh; Editing by Devika Syamnath

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