Seoul Stocks end up 0.66 pct on exporter gains

(ATTN: ADDS bond yields at bottom)
SEOUL, March 3 (Yonhap) -- South Korean stocks climbed 0.66 percent Tuesday as
exporting companies got a boost from the won's recent downturn, analysts said.
The local currency rose against the U.S. dollar for the first time in four
sessions.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.76 points to
1,025.57 after falling as much as 2.4 percent in early trading. Volume was heavy
at 531.1 million shares worth 3.5 trillion won (US$2.3 billion), but losers
outnumbered gainers 548 to 275.
"Exporters led the gains as the local currency's downtrend is expected to
increase overseas demand for their goods," said Lee Sun-yup, an analyst at
Goodmorning Shinhan Securities.
Shipbuilders and automakers jumped with largest shipyard Hyundai Heavy Industries
rising 3.6 percent to 172,500 won. Leading automaker Hyundai Motor gained 4.36
percent to 49,050 won on positive earnings forecasts.
Tech exporters also finished sharply higher with market bellwether Samsung
Electronics advancing 2.92 percent to 475,500 won. Its smaller rival LG
Electronics also rose 3.91 percent to 71,700 won, snapping a three-day fall in a
row.
However, bank shares lost ground due to sustained global financial jitters.
Shinhan Financial Group, which controls second-biggest Shinhan Bank, lost 2.27
percent to end at 21,500 won.
The local currency ended at 1,552.4 won against the U.S. dollar, up 17.9 won from
Monday's close, on suspected government intervention in the market, dealers said.
Bond prices, which move inversely to yields, closed higher. The return on
three-year Treasuries dropped 0.13 percentage point to 3.74 percent and the
benchmark yield on five-year government bonds also declined 0.04 percentage point
to 4.59 percent.
pbr@yna.co.kr
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