BUZZ-South Korean ADRs, ETFs slide as President Yoon declares martial law

Reuters12-03
BUZZ-South Korean ADRs, ETFs slide as President Yoon declares martial law

Updates

** Most U.S.-listed shares of South Korean companies and exchange-traded products linked to the country fall as President Yoon Suk Yeol declares martial law in an unannounced late night address

** Korea Electric Power Corp (KEPCO) KEP.N, SK Telecom SKM.N, e-commerce company Coupang CPNG.N, KT Corp KT.N, LG Display LPL.N down between 2.2% and 5.7%

** iShares MSCI South Korea ETF EWY.P declines 4.4% to $54.26 and Franklin FTSE South Korea ETF FLKR.P drops 3% to $18.3. Both hit over two-year lows

** Financial stocks KB Financial Group KB.N falls 2.5% and Shinhan Financial Group SHG.N slips 1.6%

** South Korean won KRW= dropped to as low as 1,429.72 won per dollar, a more than two-year low

(Reporting by Shashwat Chauhan and Ankika Biswas in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))

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