S.Korean stocks rise as e-commerce companies make progress

* KOSPI rises, foreigners net sellers

* Korean won strengthens against the dollar

* Yields on benchmark bonds from South Korea are falling

SEOUL, May 3 (Reuters) – Overview of South Korea’s financial markets:

** South Korean shares rose slightly on Friday, helped by e-commerce companies, and were poised for a second straight weekly gain.

** The won strengthened while benchmark bond yields fell.

** The benchmark KOSPI rose 2.41 points, or 0.09%, to 2,686.06 by 0211 GMT.

** For the week, KOSPI rose 1.2%, after rising 2.5% in the previous week, marking its first weekly gain in five.

** Search engine Naver and instant messenger Kakao rose 2.70% and 1.76% respectively, making them the biggest gainers in the index.

** Naver said it would consider its position on a potential sale of a stake in LY Corp from a medium to longer-term business perspective.

** South Korea’s central bank governor Rhee Chang-yong said it was inevitable the bank would raise its economic growth forecast, currently 2.1% for this year.

** Among other heavyweights, automakers also fell, with Hyundai Motor down 1% and Kia Corp down 2.34%. Chipmakers and biopharmaceutical manufacturers rose.

** Of the total 929 issues traded, 372 shares rose, while 480 shares fell.

** Foreigners were net sellers of shares worth 9.0 billion won ($6.60 million) on the mainboard.

** The won was quoted at 1,363.7 per dollar on the onshore settlement platform, up 0.89% from the previous close of 1,375.9.

** On the money and debt markets, three-year government bond futures rose 0.06 point to 104.19 in June.

** The most liquid three-year Korean government bond yield fell 1.5 basis points to 3.493%, while the benchmark 10-year yield fell 1.9 basis points to 3.617%. ($1 = 1,363.6700 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)