South Korean shares start week lower ahead of BOK rate decision, Powell's speech

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South Korean shares fell on Monday, ahead of a series of monetary policy events this week, with chipmakers dragging the benchmark index lower.

** The benchmark KOSPI index was down 11.91 points, or 0.44%, at 2,685.32, as of 0137 GMT, on track to snap a five-session rally.

** The U.S. Federal Reserve will release the minutes of its latest monetary policy meeting this week, and its Chair Jerome Powell is scheduled to give a speech at the annual Jackson Hole event.

** The Bank of Korea will meet on Thursday for an interest rate decision, after keeping rates on hold at a 15-year high of 3.50% for the 12th straight meeting in July.

** Chipmaker Samsung Electronics fell 2.12% and peer SK Hynix lost 2.85%, and were the biggest decliners among index heavyweights. ** Battery makers also fell, but e-commerce firms and biopharmaceutical stocks rose. ** Of the total 936 traded issues, 370 shares advanced, while 503 declined. ** Foreigners were net sellers of shares worth 174.7 billion won ($130.45 million).

** The won was quoted at 1,341.0 per dollar on the onshore settlement platform, 0.77% higher than its previous close at 1,351.3.

** In money and debt markets, September futures on three-year treasury bonds fell 0.05 point to 105.90.

** The most liquid three-year Korean treasury bond yield rose by 1.2 basis points to 2.935%, while the benchmark 10-year yield rose by 0.9 basis point to 2.981%.

($1 = 1,339.2600 won)

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