Round-up of South Korean financial markets:

 

** South Korean shares gained more than 1% on Friday and notched a third straight weekly rise, joining a global rally on eased U.S. default risks.

** The Korean won jumped, while the benchmark bond yield fell.

** The benchmark KOSPI ended up 32.19 points, or 1.25%, at 2,601.36, marking its highest closing level since June 9, 2022. It ended the week 1.66% higher.

** A bill to suspend the U.S. government's $31.4 trillion debt ceiling and avoid a disastrous default secured enough votes to pass in the Senate on Thursday.

** "There is practically no uncertainty left for the issue, and hopes grew for a rate hold by the U.S. Federal Reserve this month," said analyst Lee Kyoung-min at Daishin Securities.

** South Korea's consumer inflation eased for a fourth consecutive month in May to the lowest in 19 months but core inflation remained elevated, data showed on Friday.

** Chipmaker Samsung Electronics rose 1.83% and peer SK Hynix was flat, while battery maker LG Energy Solution advanced 0.68%.

** Among other index heavyweights, Hyundai Motor climbed 1.01% and its sister automaker Kia Corp was 1.19% higher. Search engine Naver added 0.25%, while instant messenger Kakao was up 1.96%.

** Of the total 935 issues traded, 603 shares rose.

** Foreigners were net buyers of shares worth 380.9 billion won ($288.36 million).

** The won ended onshore trade 1.22% higher at 1,305.7 per dollar, after touching its strongest level since April 14. It marked the biggest daily gain since March 23.

** The currency strengthened by 1.44% this week, the third consecutive weekly gain and the biggest since mid-March.

** The most liquid three-year Korean treasury bond yield fell by 4.1 basis points to 3.436%, while the benchmark 10-year yield fell by 5.4 basis points to 3.495%. ($1 = 1,320.9300 won) (Reporting by Jihoon Lee; Editing by Sharon Singleton)