South Korean shares cut gains as sluggish exports weigh

Round-up of South Korean financial markets:

** South Korean shares gave up most of their early gains on Thursday, as sluggish export data countered support from U.S. Federal Reserve Chair Jerome Powell's dovish remarks. The Korean won jumped, while the benchmark bond yield rose.

** The benchmark KOSPI KOSPI ended 7.31 points, or 0.30%, higher at 2,479.84, extending gains to a third session and marking its highest close since Nov. 15.

** Earlier in the session, it rose as much as 1.17% after Wall Street rallied overnight as Federal Reserve Chair Jerome Powell said the U.S. central bank could scale back the pace of its interest rate hikes "as soon as December".

** South Korea's exports suffered the worst annual drop in 2-1/2 years last month, hurt by cooling global demand in major markets led by China and a downturn in the semiconductor industry.

** "Exports had already been somewhat expected to be weak, but the data still weakened the local stock market's gaining momentum," said Park Kwang-nam, an analyst at Mirae Asset Securities.

** Among heavyweights, technology giant Samsung Electronics 005930 rose 0.64%, but peer SK Hynix 000660 lost 0.35% and battery maker LG Energy Solution 373220 declined 0.34%.

** Of the total 932 traded issues, 642 shares rose.

** Foreigners were net buyers of shares worth 31.9 billion won ($24.54 million) on the main board.

** The won ended 1.47% higher at 1,299.7 per dollar on the onshore settlement platform USDKRW, after hitting the highest since July 5 at 1,294.6.

** In money and debt markets, December futures on three-year treasury bonds (KTBc1) rose 0.17 point to 103.82.

** The most liquid three-year Korean treasury bond yield fell by 0.6 basis point to 3.660%, while the benchmark 10-year yield rose by 1.2 basis points to 3.666%.

($1 = 1,299.7000 won)