Round-up of South Korean financial markets:
** South Korean shares dropped more than 2% on Wednesday to their lowest close in more than two years, weighed down by heightened global recession fears.
** The Korean won weakened more than 1% against the dollar to hit a fresh 13-1/2-year low, while the benchmark bond yield erased much of early gains on market stabilising measures.
** The benchmark KOSPI ended down 54.57 points, or 2.45%, at 2,169.29, its lowest close since July 10, 2020.
** "The local market saw bigger losses than most Asian peers because of its higher proportion of tech shares, which were under pressure from the reports on Apple," said Na Jeong-hwan, an analyst at Cape Investment and Securities.
** LG Innotek, a camera part supplier, saw its worst day since mid-March 2020, falling 10.5% on reports that Apple dropped plans to increase production of its new iPhones this year.
** Among heavyweights, technology giant Samsung Electronics fell 2.40%, peer SK Hynix lost 0.98%, and battery maker LG Energy Solution declined 2.36%.
** Celltrion gained 0.6% after the company said it had received the final U.S. sales licence for a biosimilar anticancer drug.
** Foreigners were net sellers of shares worth 145.9 billion won ($101.06 million) on the main board.
** The won ended 1.28% lower at 1,439.9 per dollar on the onshore settlement platform, after touching its weakest level since March 16, 2009 at 1,442.2.
** In money and debt markets, December futures on three-year treasury bonds ended down 0.11 point at 101.40, after falling as much as 0.65 point.
** South Korea's finance ministry and central bank said they would each conduct buy-back and direct purchases of treasury bonds to stabilise the bond market.
** The most liquid 3-year Korean treasury bond yield fell by 7.8 basis points to 4.216%, while the benchmark 10-year yield rose by 2.5 basis points to 4.231%, after touching its highest since May 11, 2011 at 4.426%. ($1 = 1,443.7200 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)