Round-up of South Korean financial markets:

 

** South Korean shares posted their biggest weekly drop since mid-January as the benchmark index closed 1% lower on Friday, tracking Wall Street's overnight weakness on U.S. Federal Reserve officials' hawkish comments.

** The benchmark KOSPI closed down 27.79 points, or 1.01%, at 2,714.21. It fell 1.18% this week.

** Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday that no interest rate cut may be required by the end of the year, if inflation continues to stall.

** Samsung Electronics fell 0.94%, even after the chipmaker's preliminary first-quarter profit beat market expectations. Peer SK Hynix dropped 2.77%.

** "Earnings expectations have already been priced in, and chipmakers will likely take a breather unless investors find more upside drivers," said Lee Kyoung-min, analyst, Daishin Securities.

** Hanwha Aerospace slumped 9.96% in its biggest drop since September 2022, after its announcement to spin off industrial solutions and semiconductor equipment businesses from its flagship defence division.

** Of the total 930 traded issues, 247 shares advanced, while 635 declined.

** Foreigners were net sellers of shares worth 116.7 billion won ($86.28 million) on the main board.

** The won ended onshore trade at 1,352.8 per dollar, 0.42% lower than its previous close at 1,347.1.

** In money and debt markets, June futures on three-year treasury bonds rose 0.05 point to 104.77.

** The most liquid three-year Korean treasury bond yield fell by 1.1 basis points to 3.328%, while the benchmark 10-year yield fell by 2.8 basis points to 3.428%. ($1 = 1,352.6500 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)