Round-up of South Korean financial markets:

** South Korean shares reversed early gains to end the first session of 2023 lower, dragged down by institutional sell-off in relatively thin trading. The won weakened, while the benchmark bond yield rose.

** The benchmark KOSPI ended down 10.72 points, or 0.48%, at 2,225.68, after rising as much as 1.05%, led by electric-vehicle (EV) stocks.

** The index closed at its lowest since Oct. 20, 2022 and extended its losing streak to a third straight session.

** "The market turned down on institutional investors' selling due to the seasonal factor of rebalancing at the beginning of a new year," said Seo Sang-young, analyst at Mirae Asset Securities.

** "With most stock markets closed across major countries, trading was also thin in the local market."

** Institutional investors were net sellers of shares worth 264.4 billion won ($207.83 million), while foreigners bought a net 8.5 billion won in stocks.

** Automakers and battery manufacturers jumped as U.S. guidance on electric-vehicle tax credits released last week was seen to reduce South Korean companies' disadvantages related to the Inflation Reduction Act.

** Most airline, hotel and travel agency stocks fell following South Korea's announcement of measures to restrict travellers from China. Cosmetics stocks also dropped as it forms a big part of the visitors' shopping carts.

** Korea Electric Power Corp dropped 11.24% and logged its biggest daily loss since late October 2008, with analysts saying that South Korea's decision to raise electricity prices by nearly 10% did not met their expectations.

** Only 177 shares gained among 927 traded issues.

** The won ended onshore trade at 1,272.6 per dollar, 0.64% lower than its previous close.

** In money and debt markets, March futures on three-year treasury bonds fell 0.12 point to 103.33.

** The most liquid three-year Korean treasury bond yield rose by 5.8 basis points to 3.783%, while the benchmark 10-year yield rose by 7.8 basis points to 3.813%. ($1 = 1,272.2000 won) (Reporting by Jihoon Lee Editing by Vinay Dwivedi)