ID :
169158
Fri, 03/18/2011 - 09:38
Auther :
Shortlink :
https://oananews.org//node/169158
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Seoul stocks end up 1.13 pct on easing Japan reactor woes
SEOUL, March 18 (Yonhap) -- South Korean stocks closed 1.13 percent higher on Friday on subsiding worries over Japan's nuclear power plant crisis, analysts said. The local currency rose sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) jumped 22.10 points to 1,981.13. Trading volume was light at 287.8 million shares, worth 6.8 trillion won (US$6 billion), with gainers outnumbering losers 661 to 182.
"The key index rose for the third consecutive session as foreign investors increased share holdings on diminishing worries over Japan's nuclear power plant crisis," said Lee Sun-yup, an analyst at Shinhan Investment & Securities.
Builders made big gains as the Libyan government's truce offer with rebels helped subdue jitters over the companies' business activities in the country.
GS Engineering & Construction jumped 5.8 percent to 104,000 won with top builder Hyundai Engineering & Construction also rising 4.32 percent to 79,700 won.
Carmakers and steelmakers extended gains as production disruptions affecting earthquake-hit Japanese rivals were expected to spur their sales growth.
Top automaker Hyundai Motor rose 0.56 percent to 179,500 won and its affiliated car manufacturer Kim Motors also surged 2.35 percent to 60,900 won.
POSCO, the world's fourth-largest steel producer, increased 3.19 percent to 502,000 won with smaller rival Hyundai Steel gaining 2.99 percent to 138,000 won.
Doosan Heavy Industries & Construction surged 4.95 percent to 61,500 won on hopes that the nuclear power plant maker may beat Japanese rivals to win a contract to build reactors in Turkey.
Trading company Daewoo International soared 5.97 percent to end at 35,500 won on an analyst report that the natural gas developer may benefit from natural gas demand growth that followed Japan's nuclear power plant crisis triggered by last week's massive earthquake and tsunami.
Hana Financial Group also advanced 1.76 percent to 43,300 won on news that the financial regulator's recent decision to delay the decision on Lone Star Funds' eligibility as the biggest shareholder of Korea Exchange Bank may not jeopardize the group's deal to buy the bank from the U.S. buyout fund.
The South Korean won ended at 1,126.6 won against the U.S. dollar, up 8.7 won from Thursday's close, as foreign investors increased local share holdings, dealers said.
pbr@yna.co.kr
The benchmark Korea Composite Stock Price Index (KOSPI) jumped 22.10 points to 1,981.13. Trading volume was light at 287.8 million shares, worth 6.8 trillion won (US$6 billion), with gainers outnumbering losers 661 to 182.
"The key index rose for the third consecutive session as foreign investors increased share holdings on diminishing worries over Japan's nuclear power plant crisis," said Lee Sun-yup, an analyst at Shinhan Investment & Securities.
Builders made big gains as the Libyan government's truce offer with rebels helped subdue jitters over the companies' business activities in the country.
GS Engineering & Construction jumped 5.8 percent to 104,000 won with top builder Hyundai Engineering & Construction also rising 4.32 percent to 79,700 won.
Carmakers and steelmakers extended gains as production disruptions affecting earthquake-hit Japanese rivals were expected to spur their sales growth.
Top automaker Hyundai Motor rose 0.56 percent to 179,500 won and its affiliated car manufacturer Kim Motors also surged 2.35 percent to 60,900 won.
POSCO, the world's fourth-largest steel producer, increased 3.19 percent to 502,000 won with smaller rival Hyundai Steel gaining 2.99 percent to 138,000 won.
Doosan Heavy Industries & Construction surged 4.95 percent to 61,500 won on hopes that the nuclear power plant maker may beat Japanese rivals to win a contract to build reactors in Turkey.
Trading company Daewoo International soared 5.97 percent to end at 35,500 won on an analyst report that the natural gas developer may benefit from natural gas demand growth that followed Japan's nuclear power plant crisis triggered by last week's massive earthquake and tsunami.
Hana Financial Group also advanced 1.76 percent to 43,300 won on news that the financial regulator's recent decision to delay the decision on Lone Star Funds' eligibility as the biggest shareholder of Korea Exchange Bank may not jeopardize the group's deal to buy the bank from the U.S. buyout fund.
The South Korean won ended at 1,126.6 won against the U.S. dollar, up 8.7 won from Thursday's close, as foreign investors increased local share holdings, dealers said.
pbr@yna.co.kr
