ID :
100126
Fri, 01/15/2010 - 00:17
Auther :
Shortlink :
https://www.oananews.org//node/100126
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Seoul shares end up 0.86 pct on shipbuilders, tech gains
By Lee Youkyung
SEOUL, Jan. 14 (Yonhap) -- South Korean stocks closed 0.86 percent higher
Thursday as investors brushed off concerns from China's credit-tightening
measures and scooped up shares of shipbuilders and tech chips, analysts said. The
local currency gained against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 14.36 points to
1,685.77. Volume was moderate at 428 million shares worth 6.11 trillion won
(US$5.45 billion) with gainers leading losers 421 to 356.
"Investors bet on tech issues ahead of the release of Intel Corp.'s earnings
report later in the evening," said Choi Chang-ho, an analyst at Shinhan
Investment Corp. "Chinese stocks traded in positive territory and U.S. markets
gained overnight, helping investors ease concerns about China's tightening of
monetary policy."
On Tuesday, the People's Bank of China raised the reserve requirements for local
banks in a bid to stem inflation, but investors shrugged off initial jitters,
betting that China may take more time to raise its benchmark interest rates,
analysts said.
Top shipbuilder Hyundai Heavy Industries soared 5.97 percent to 204,000 won.
Memory chipmakers finished higher on a recent upturn in benchmark DRAM chip
prices. Market heavyweight Samsung Electronics climbed 3.76 percent to 827,000
won while the world's second-largest memory chip maker Hynix Semiconductor rose
5.82 percent to 25,450 won.
LG Display, the world's second-largest maker of liquid-crystal-display panels,
jumped 5.35 percent to 40,400 won on a brokerage's note that its first-quarter
profits will rebound.
The world's fourth-largest steelmaker POSCO however, fell 0.67 percent to 592,000
won as investors took profit ahead of the imminent earnings reports slated to
release after the closing bell.
The local currency closed at 1,121.10 won to the greenback, up 4.40 won from
Wednesday's close, as offshore investors bet on risky assets on expectation that
China's measure to curb bank lending will not hinder its growth, dealers said.
ylee@yna.co.kr
(END)
SEOUL, Jan. 14 (Yonhap) -- South Korean stocks closed 0.86 percent higher
Thursday as investors brushed off concerns from China's credit-tightening
measures and scooped up shares of shipbuilders and tech chips, analysts said. The
local currency gained against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 14.36 points to
1,685.77. Volume was moderate at 428 million shares worth 6.11 trillion won
(US$5.45 billion) with gainers leading losers 421 to 356.
"Investors bet on tech issues ahead of the release of Intel Corp.'s earnings
report later in the evening," said Choi Chang-ho, an analyst at Shinhan
Investment Corp. "Chinese stocks traded in positive territory and U.S. markets
gained overnight, helping investors ease concerns about China's tightening of
monetary policy."
On Tuesday, the People's Bank of China raised the reserve requirements for local
banks in a bid to stem inflation, but investors shrugged off initial jitters,
betting that China may take more time to raise its benchmark interest rates,
analysts said.
Top shipbuilder Hyundai Heavy Industries soared 5.97 percent to 204,000 won.
Memory chipmakers finished higher on a recent upturn in benchmark DRAM chip
prices. Market heavyweight Samsung Electronics climbed 3.76 percent to 827,000
won while the world's second-largest memory chip maker Hynix Semiconductor rose
5.82 percent to 25,450 won.
LG Display, the world's second-largest maker of liquid-crystal-display panels,
jumped 5.35 percent to 40,400 won on a brokerage's note that its first-quarter
profits will rebound.
The world's fourth-largest steelmaker POSCO however, fell 0.67 percent to 592,000
won as investors took profit ahead of the imminent earnings reports slated to
release after the closing bell.
The local currency closed at 1,121.10 won to the greenback, up 4.40 won from
Wednesday's close, as offshore investors bet on risky assets on expectation that
China's measure to curb bank lending will not hinder its growth, dealers said.
ylee@yna.co.kr
(END)
