South Korean shares hit near 10-month high on rate cut, US tariff ruling

• KOSPI rises, foreigners net buyers
• Korean won steady against dollar
• South Korea benchmark bond yield rises
• For the midday report, please click

SEOUL, May 29 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares jumped on Thursday to their highest levels in nearly 10 months, as investors welcomed the central bank's decision to trim interest rates and a U.S. court's move to block President Donald Trump's proposed tariffs.

** The benchmark KOSPI .KS11 closed up 50.49 points, or 1.89%, at 2,720.64, its highest level since August 1, 2024.

** The Bank of Korea central bank cut interest rates for a fourth time in its current easing cycle to support an economic recovery clouded by U.S. tariffs, just days ahead of a presidential election in Asia's fourth-largest economy.

** South Korea's exports are expected to have fallen in May for the first time in four months, as the impact of U.S. tariffs offset strong demand for semiconductors, according to a Reuters poll.

** A U.S. trade court blocked Trump's tariffs from going into effect in a sweeping ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 0.36%, while peer SK Hynix 000660.KS gained 1.92%. Battery maker LG Energy Solution 373220.KS slid 0.35%.

** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS closed higher by 2.74% and 4.72%, respectively. Steelmaker POSCO Holdings 005490.KS added 2%, while drugmaker Samsung BioLogics 207940.KS fell 0.19%.

** Of the total 937 traded issues, 751 shares advanced, while 153 declined.

** Foreigners were net buyers of shares worth 290.3 billion won ($211.26 million).

** The won was quoted steady at 1,376.0 per dollar on the onshore settlement platform KRW=KFTC.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 3.1 basis points to 2.340%, while the benchmark 10-year yield KR10YT=RR rose by 4.0 basis points to 2.757%.

($1 = 1,374.1100 won)